Timothy Boyle
- For the former Australian rules football player, see Tim Boyle
| Timothy Boyle | |
|---|---|
| Born | 1949 (age 66–67) |
| Nationality | American |
| Education | University of Oregon (attended) |
| Occupation | businessman |
| Known for | President and CEO of Columbia Sportswear |
| Net worth | US$1.71 billion (November 2015)[1] |
| Religion | Roman Catholic |
| Spouse(s) | Mary Boyle |
| Parent(s) |
Gert Lamfromm Boyle Joseph Cornelius “Neal” Boyle |
Timothy Boyle (born 1949) is an American billionaire, and the president and CEO of Columbia Sportswear.[2]
Early life
Boyle is one of three children born to Joseph Cornelius "Neal" Boyle, an Irish Catholic and Gertrude Lamfrom.[3] His mother was Jewish and fled as a teenager from Nazi Germany and immigrated to Portland, Oregon;[4] she converted to Catholicism after marrying her husband.[4] He has two sisters: Kathy Boyle (born 1952) and Sally Boyle (born 1958).[3]
His grandfather purchased the Rosenfeld Hat Company[3] and changed its name to the Columbia Hat Company[5] (after the river).[3] His father became president of Columbia hat after his grandfather died and then diversified the hat business into outerwear[3] for hunters, fishermen, and skiers.[4] In 1960, his mother designed the first fishing vest (his father was an avid fisherman) and the name of the company was changed to Columbia Sportswear.[5]
Career
Boyle attended the University of Oregon, but left after his father died in 1970[6] at the age of 47 and joined his mother - who had become president of Columbia - then with $800,000 in annual sales.[3] The company struggled and teetered on bankruptcy[7] until in the 1970s when he and his mother refocused the business on outdoor clothing and casual wear which paralleled a general trend away from formal work attire.[8] In 1975, they were the first company to introduce Gore-Tex parkas.[5] In 1986, Columbia released the Bugaboo, a jacket with a zip out lining which became quite trendy and further propelled the company's growth.[3] Columbia was unique among specialty clothing manufacturers in that it would sell its products to any retail shop or chain.[4] In 1987, Columbia had $18.8 million in sales and by 1997 it had grown to $353.5 million.[4] The company went public in 1998.[8] In the early 2010s, Boyle refocused Columbia away from top line products and more towards the mid-range, moderately priced products; he also continued to align sales with changes happening in the retail industry, shifting the company more toward internet sales.[2]
Boyle's 41% ownership interest in Columbia Sportswear was worth over $1.0 billion in 2013.[2]
Personal life
In 2007, he and his wife Mary donated $5 million to the University of Oregon.[9]
In 2016, he donated $10 million to the University of Oregon's aquatic animal care facility. [10]
References
- ↑ "Timothy Boyle". Forbes. Retrieved 8 November 2015.
- 1 2 3 Forbes: "Columbia Sportswear Thrives, Lifting CEO Tim Boyle To Billionaire Ranks" by Kathryn Dill November 8, 2013
- 1 2 3 4 5 6 7 Whitford, David; Gert Boyle (September 1, 2003). "Gert Boyle Columbia Sportswear Co.". Fortune Small Business. Retrieved 10 November 2013.
- 1 2 3 4 5 Immigrant Entrepreneurship: "Gertrude Boyle" retrieved November 9, 2013
- 1 2 3 "History". About Us. Columbia Sportswear. Retrieved 10 November 2013.
- ↑ Oregon Business: "Tim Boyle charts the future as Columbia Sportswear turns 75" by Linda Baker January 28, 2013
- ↑ Harriet Shapiro; Diane S. Lund (September 18, 1989). "Gert Boyle Has a Vested Interest in George Bush's Fishing Fortunes". People. Retrieved November 9, 2013.
- 1 2 Boyle, Gert (April 1, 2006). "How I Did It: Gert Boyle, chairman, Columbia Sportswear". Inc. magazine. Retrieved November 9, 2013.
- ↑ Business Wire: "Columbia Sportswear Tim Boyle, Wife Donate $5 Million to University of Oregon" April 13, 2007
- ↑ Katu: "Columbia Sportswear CEO donates $10 million to University of Oregon" February 28, 2016