Thomas G. Stemberg

Thomas George Stemberg (January 18, 1949 – October 23, 2015) was an American businessman, investor, and philanthropist. He was a pioneer of the office supplies superstore industry, most notably for founding office supply retail chain Staples Inc. with Leo Kahn.[1][2]

Early life and education

Stemberg was born on January 18, 1949, in Orange, New Jersey,[3] the son of immigrants from Vienna, Austria, Erika (née Ratzer) and Oscar Michael Stemberg.[4][5] His father was a lawyer who became a restaurateur.[6] His father was Jewish and his mother was Catholic.[7][8]

At Harvard College, he headed on managerial roles at Harvard Student Agencies, a hands-on organization of campus businesses, and the Harvard Independent, a newly established student newspaper.[6] In 1973, Stemberg graduated from the Harvard Business School receiving his M.B.A. as a George F. Baker Scholar.[9]

Career

He started his career with the Jewel Company's Star Markets where he became the vice president for the company's sales and merchandising division.[10]

In 1986, Stemberg started Staples with backing from private equity firms, including Hambro International Ventures, Harvard Management, Bessemer Ventures, Adler & Company, and Bain Capital;[11] Bain co-founder Mitt Romney served on the company's board of directors for the next 15 years.[12] By 1999, Staples had worldwide sales of over US$7 billion, with more than one thousand superstores, mail order catalogs, e-commerce outlets, and a contract business.[11]

In 2005, Stemberg joined Highland Capital Partners, a venture capital firm, in Lexington, Massachusetts, as managing general partner.[13]

Stemberg had an estimated net worth of $202 million, he was a philanthropist who donated funds in areas pertaining to education.[14]

Stemberg, a political supporter of Mitt Romney since Romney ran for the U.S. Senate in 1994, spoke on Romney's behalf at the 2012 Republican National Convention.[12] Stemberg encouraged Romney to make healthcare more accessible, which led Romney to reform healthcare in the commonwealth.[15]

Personal life

In 2012, Stemberg was involved in a legal dispute with his first wife, Maureen Sullivan.[16][17]

Stemberg died on October 23, 2015, from gastric cancer. He was 66 years old.[18][19]