Joe Coulombe

Joseph Hardin Coulombe (June 3, 1930 – February 28, 2020)[1] was an American entrepreneur who founded the grocery store chain Trader Joe's in 1967 and served as its CEO until his retirement in 1988.[2]

Early life and education

Coulombe was born in San Diego, California, and grew up on an avocado farm in nearby Del Mar.[3][4] After serving a year in the U.S. Air Force, he attended Stanford University, where he earned a bachelor's degree in economics in 1952 and a Master of Business Administration degree in 1954.[4][5] Coulombe was a member of Alpha Kappa Lambda.[6]

Career

Coulombe started his career at Rexall, a chain of American drugstores. In 1958, he was asked to test the launch of Pronto Markets, a store brand to compete against 7-Eleven. After running six Pronto Markets in the Los Angeles area, Rexall asked Coulombe to liquidate them; he decided to buy them out instead.[2] In 1967, Coulombe changed the name Pronto Markets to Trader Joe's. He led the chain to success and sold it in 1979 to German billionaire Theo Albrecht, co-founder of the Aldi supermarket chain.[2][7] Coulombe continued with Trader Joe's as chief executive officer until retiring in 1988.[2]

Coulombe served on the corporate boards of Cost Plus World Market, Bristol Farms, True Religion, and Imperial Bank.[4][8]

Personal life and death

In 1952, Coulombe married Alice Steere, whom he met at a party while they were students at Stanford. Alice served on the board and was a life trustee of the Los Angeles Opera.[9][10] They had three children, Joe, Charlotte, and Madeleine. Coulombe and his family lived in Pasadena, California.[4]

Coulombe was a board member of the Huntington Library,[11] the Colburn School, and the Los Angeles Opera.[4]

On February 28, 2020, Coulombe died at his home in Pasadena, at age 89.[12][4][1]

In 2021, his memoir was published: Becoming Trader Joe: How I Did Business My Way and Still Beat the Big Guys. [13]

External links