John D. Macomber

{{Short description|American banker (1928–2024)}} {{For|the American financier and sportsman born in 1875|John R. Macomber}} {{Infobox person | name = John Dewitt Macomber | image = | caption = | birth_name = | birth_date = {{birth date|1928|01|13}} | birth_place = Rochester, New York, U.S. | death_date = {{death date and age|2024|08|02|1928|01|13}} | death_place = Washington D.C., U.S. | education = Philips Academy Yale University {{small|(BA)}} Harvard Business School {{small|(MBA)}} | occupation = President of the Ex-Im Bank CEO of Celanese | years_active = | employer = | signature = | political_party = Republican Party | boards = Lehman Brothers Bristol-Myers Squibb Company The Brown Group Chase Manhattan Bank RJR Nabisco Pilkington Xerox Corporation Rand McNally Lincoln Center International Chamber of Commerce Atlantic Council Philips Academy | spouse = | children = }}

'''John Dewitt Macomber''' (January 13, 1928 – August 2, 2024) was an American banker. He was the principal of JDM Investment Group and was the president of the Export-Import Bank of the United States from 1989 to 1992.

==Career== Macomber was a senior partner at McKinsey & Co. until 1973 and chairman and CEO of Celanese Corporation from 1973 until 1986.<ref>{{cite web|url=https://www.bloomberg.com/research/stocks/people/person.asp?personId=635363&privcapId=32787845|publisher=Bloomberg|title=Executive Profile - John Dewitt Macomber|accessdate=March 12, 2018}}</ref> He exited when the company was acquired by Hoechst AG to become the largest chemical company.<ref>{{Cite news |last=Hicks |first=Jonathan P. |date=1986-11-04 |title=HOECHST TO ACQUIRE CELANESE |language=en-US |work=The New York Times |url=https://www.nytimes.com/1986/11/04/news/hoechst-to-acquire-celanese.html |access-date=2022-03-03 |issn=0362-4331}}</ref> Celanese had been ahead of its time in stock buybacks, and Macomber was especially proud that 20% of company stock was "owned by middle managers and ordinary folk who are extraordinarily well off".<ref name="timesmachine.nytimes.com">{{Cite news |title=BUSINESS PEOPLE; CELANESE CHIEF LEAVING AS HOECHST TAKES OVER | work=The New York Times |url=http://timesmachine.nytimes.com/timesmachine/1987/03/05/676387.html?pageNumber=85 |access-date=2022-03-03 |language=en}}</ref> During the 13 years he led the company, the stock increased in value by 10 times, from $24.50 to $245.<ref name="timesmachine.nytimes.com"/>

Macomber was also chairman of the Council for Excellence in Government, Rand McNally and Company, and vice chairman of the Atlantic Council. He also served on the board of directors of Lehman Brothers, Bristol-Myers Squibb Company, The Brown Group, Inc., Chase Manhattan Bank, RJR Nabisco, Pilkington Ltd., and Xerox Corporation. In addition, Macomber served on the Lincoln Center board and the International Chamber of Commerce.<ref name="barbarians">{{cite book|title=Barbarians at the Gate: The Fall of RJR Nabisco|first1=Bryan|last1=Burrough|first2=John|last2=Helyar|date=2009|publisher=Harper Business|page=60}}</ref>

==Personal life and death== Macomber was born in Rochester, New York, and served in the US Air Force for two years.<ref>{{cite web|url=http://www.presidency.ucsb.edu/ws/index.php?pid=17194|title=Nomination of John D. Macomber To Be President of the Export-Import Bank of the United States|publisher=The American Presidency Project|date=June 11, 1989|accessdate=March 12, 2018|first1=Gerhard|last1=Peters|first2=John T.|last2=Woolley}}</ref> He had two older brothers, William Butts Macomber and Robert Macomber. He graduated from Phillips Academy, Yale University in 1950, and Harvard Business School in 1952.<ref>{{cite web|url=https://www.nytimes.com/1992/08/23/business/making-a-difference-the-businessman-at-ex-im.html|work=New York Times|title=Making a Difference; The Businessman at Ex-Im|accessdate=March 12, 2018|date=August 23, 1992|first=Keith|last=Bradsher}}</ref><ref name="barbarians" /> Macomber died in Washington D.C. on August 2, 2024, at the age of 96.<ref>{{cite web |title=John D. Macomber |url=https://www.legacy.com/us/obituaries/washingtonpost/name/john-macomber-obituary?id=55817112 |website=Legacy |access-date=7 February 2025}}</ref>

==References== * [http://www.andover.edu/About/AdministrationGovernance/Pages/ Trustee Emeritus: John D. Macomber '46]{{dead link|date=April 2017 |bot=InternetArchiveBot |fix-attempted=yes }}. Phillips Academy. Accessed 2011-03-01.

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{{DEFAULTSORT:Macomber, John D.}} Category:1928 births Category:2024 deaths Category:Atlantic Council Category:American chief executives of Fortune 500 companies Category:Harvard Business School alumni Category:McKinsey & Company people Category:Yale University alumni Category:Lehman Brothers people Category:Phillips Academy alumni Category:Businesspeople from Rochester, New York