INDUSTRY
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John H. McConnell, Steel Magnate/Worthington
Industries Founder, Dies at 84
A memorial service for John H. McConnell, founder of
Worthington Industries, will be be held at 7 p.m. EST
on Wednesday, May 7, at Nationwide Arena in Columbus,
Ohio. Doors will open at 6 p.m
McConnell passed away on Friday, April 25, 2008, at
the age of 84. The son of a steel worker, he was born
May 10, 1923, in Pughtown, W.Va., and grew up during
the Great Depression. He served aboard the U.S.S. Saratoga
during World War II and married his high school sweetheart,
Peggy Rardin upon discharge from the Navy. He then used
the GI bill to enter Michigan State University, where
he studied business and played football.
While working for Weirton Steel Corp., McConnell identified
a niche in the industry for custom steel processing
services. He used his 1952 Oldsmobile as collateral
for a loan, and in 1955 launched Worthington Industries
and the steel processing industry.
Known as “Mr. Mac,” he championed the idea
that workers should partake in their company’s
success and set up an employee profit sharing plan in
1966. Today, the company he founded in Columbus, Ohio,
is traded on the New York Stock Exchange and employs
8,000 people in 69 facilities in 11 countries. It has
annual sales of approximately $3 billion.
He served as Chairman until 1996 and retired from the
board in 2002. Although he stepped down from a formal
leadership role in the company, McConnell’s leadership
style, which has been included in the business curriculum
at Harvard University and praised by management guru
Tom Peters, still drives the company’s culture.
That philosophy, based on the Golden Rule: “We
treat our customers, employees, investors and suppliers
as we would like to be treated,” is the subject
of McConnell’s 2004 book, “Our Golden Rule.”
Memorial contributions may be made in his name to the
Peggy R. McConnell Arts Center, P.O. Box 986, Worthington,
OH 43085 or online at www.worthingtonarts.org/arts_center.php.
The arts center is named after Mr. McConnell’s
late wife, Peggy.
http://www.worthingtonindustries.com/NewsRoom/NewsReleases_Details.asp?rId=240
Source: Worthington Industries
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