David Dayne Glass (born September 2, 1935) is the former president and chief executive officer of Wal-Mart Stores, Inc. He is the owner and chief executive officer of the Kansas City Royals.
Video David Glass (businessman)
Career with Walmart
David Glass joined the company in 1976. In his position as Executive Vice President of Finance for Wal-Mart Stores, he administered the overall financial and accounting responsibilities of the company prior to his appointment as vice chairman and chief financial officer. He served in that role until 1984 when he was named president and Walmart's chief operating officer. Along with Rob Walton, in 1985, Glass managed development of Retail Link program, Walmart's proprietary trend-forecasting software. In 1988, he was named Walmart's chief executive officer, stepping down from the position in January 2000. Glass was active in the company's growth from 123 stores in 1976 to its more than 4,000 nationally and internationally in 2005.
Glass was named Retailer of the Year by members of the retail industry in 1986 and 1991 and was inducted into the Retail Hall of Fame in August 2000. Glass has been a member of the board of Wal-Mart Stores, Inc. since 1977.
Maps David Glass (businessman)
Career with Kansas City Royals
Glass became the interim CEO and chairman of the Royals on September 23, 1993, following the death of the founding owner, Ewing Kauffman. Under Glass' leadership, the board cut the payroll from $41 million to $19 million. During the Major League Baseball strike of 1994-1995, Glass opposed any settlement with the players' union without a salary cap, and supported the use of strike-breaking "replacement" players, despite a court ruling that the use of replacement players violated federal labor law.
On April 18, 2000, Glass became sole owner of the Royals, purchasing the organization from the Kauffman estate for $96 million. The Royals board approved his offer despite a competing bid of $120 million by Miles Prentice. However, MLB rejected Prentice's offer because he didn't have enough net worth to withstand substantial losses. With none of the area's wealthy families willing to even consider making a bid for the Royals--or any other existing or prospective professional team in Kansas City--Glass was the only credible bidder who was interested in keeping the team in town. An original stipulation of the sale was that any profits from Glass' sale of the Royals must go to charity, but that clause has since expired.
For much of his tenure as owner, Glass was criticized for bringing the same cost-cutting management style he used at Walmart to the Royals. While he garnered large profits, the Royals were barely competitive for most of the early part of the new millennium. Glass' management is cited for transforming the Royals from a perennial playoff contender in the 1970s and 1980s to one of the worst teams in Major League Baseball during the 1990s and early 2000s.
Glass created a controversy on June 9, 2006, by revoking the press credentials of two reporters who had earlier asked pointed questions to Royals management. The move to avoid criticism infuriated many within the press and led to a backlash of articles that extended far beyond the Kansas City sports community.
The Royals have had four winning seasons during his ownership: 2003, 2013, 2014 and 2015. In 2014, the Royals won 89 games and reached the 2014 Major League Baseball Playoffs for the first time in 29 years. They advanced to the World Series for the first time since 1985. The Royals finished the following year with the best regular-season record in the American League, and a second consecutive victory in its championship series. He owned the Royals when they won their second World Series title in franchise history.
Personal life
The son of Marvin Glass and Myrtle Van Winkle, Glass was born on a farm in Oregon County, Missouri, and grew up in Mountain View, Missouri. He then graduated from Missouri State University in Springfield. Glass and his wife, Ruth, are the parents of three children, Dan, Don and Dayna, all of whom serve on the Royals' board of directors. Additionally, MSU's Glass Hall, which houses business and management classes, was named after him.
References
External links
- Kansas City Royals' front office
- "Walmart bio". Archived from the original on 2005-12-16.
- NBC Dateline story at PBS Frontline
- 'Dateline story at Time Magazine (subscription required)
Source of article : Wikipedia
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