Drayton McLane, Jr. (born July 22, 1936) is an American entrepreneur. He is chairman of the McLane Group, a holding company with a portfolio of various diverse enterprises. He was, until 1990, the CEO of the McLane Company, a grocery and food service warehouse, supply, and logistics firm, and was, from 1993 until 2011, the chairman and CEO of the Major League Baseball’s Houston Astros. On the Forbes 400 list of richest Americans, he was ranked #324 in 2015 with an estimated net worth of $2 billion.
Personal history
He was born on July 22, 1936 in Cameron, Texas. His father, Drayton McLane, Sr., owned a wholesale grocery distribution center. At age nine, the young McLane went to work for his father’s business that had been established by his grandfather, Robert McLane, in 1894. His grandfather came from Abbeville, S.C., to Cameron, Texas, in the late 1800s and worked as a farm laborer until about 1885, when he was able to buy and build a small retail grocery and in 1894 went into the wholesale grocery business in a small way. McLane, Jr., spent most Saturdays and summers during his teen years sweeping floors and learning various aspects of the wholesale grocery business. He graduated from C.H. Yoe High School in Cameron in 1954.
He earned his undergraduate degree at Baylor University in 1958 and his Master of Business Administration (MBA) degree in marketing at Michigan State University in 1959. After graduation, McLane, Jr., returned home and went to work for his father. For the first 18 months, he worked the second (night) shift loading trucks. Three years later he moved into management as vice president of purchasing. He then served 14 years as general manager of operations. He became president and CEO of McLane Company in 1978 and chairman in 1992.
During his years with the company, Drayton McLane, Jr., assisted his father in building an effective grocery distribution network that served convenience stores, supermarkets, and the fast-food industry nationwide. He used computer-based technology to enhance the distribution system. He was largely responsible for expanding the family business from a $3 million-a-year operation into a $19 billion enterprise.
As President and CEO of McLane Company from 1965 to 1994, he added 16 distribution facilities across the US. During that time the company experienced an average yearly sales growth of 30%. During those years, Drayton Jr. served as President of the Texas Wholesale Grocers Association (1970–1971) and Chairman of the National American Wholesale Grocers Association (1986–1988).
He sold the family business to tennis partner Sam Walton for cash and Wal-Mart shares in 1990. He invested much of the profits in pro baseball’s Houston Astros. He continued as chairman of McLane Co. and was named vice chairman of Wal-Mart Corporation. In 1993, he resigned both of these positions in order to devote his full-time as Chairman of McLane Group, which is a holding company founded in 1992.
| Drayton McLane, Jr. | |
|---|---|
| Born | July 22, 1936 |
| Residence | Temple, Texas |
| Citizenship | United States |
| Education | Baylor University Michigan State University |
| Occupation | Chairman of McLane Group, |
| Net worth |  US $ 2 billion (est.)(May 2015) |
| Spouse(s) | Elizabeth |
| Children | two |
Source:wikipedia