Scott Simplot

Last updated

Scott Simplot
Education University of Idaho (BA)
University of Pennsylvania (MBA)
OccupationBusinessman
Employer J.R. Simplot Company
Parent

Scott Simplot (born 1947) is the American chairman and chief executive officer of the J.R. Simplot Company and formerly the wealthiest man in Idaho.

Contents

Early life and education

Simplot is the youngest son of J.R. Simplot, the founder of the diversified agriculture company J.R. Simplot Company, and his first wife Rudy Rosevear. He received a Bachelor of Science in Business from the University of Idaho in 1968 and went on to earn a Masters in Business Administration (MBA) from the Wharton School at the University of Pennsylvania in 1973. [1] [2] [3] [4]

Career

Simplot first obtained a seat on the J.R. Simplot Company board of directors in 1970 and was hired as the company's director of planning and information technology in 1973, following his graduation from Wharton. He was quickly promoted to more senior positions and became chairman of the board of directors in 2001 after he reportedly "pushed out" his father, J.R.; [1] [2] [5] [6] the two adopted markedly different approaches to management. [7]

During his time at J.R. Simplot Company, Simplot has been credited with engineering the company's lucrative early-stage investment in Micron Technology, which grew to 22-percent of that company by 1996. He is also responsible for the company's 2003 purchase of the Australian arm of John West Foods. [4] [5] [7]

In addition to his seat on the J.R. Simplot Company board, he also serves on the boards of directors of nearly a dozen other companies. In 2016, Forbes named him the wealthiest man in Idaho, with an estimated net worth of $2.1 billion. [1] [2]

Personal life

Bloomberg News described Simplot as being "unassuming, with a thoughtful, almost professorial air," a marked contrast to his gregarious father, [8] which was reflected in their different management styles with J.R. acting on hunches and Scott preferring detailed analysis of potential business actions. [7] He is divorced and has two daughters. His sister, Gay Simplot, is also a billionaire and works with Scott in running the J.R. Simplot company. [1] Gay is divorced from the former Governor of Idaho, Butch Otter. [8]

In 2004 Simplot received an honorary doctorate in Administrative Science from the University of Idaho in recognition of "lifelong achievement, public service, and significant contributions to the state of Idaho and the nation." [3]

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References

  1. 1 2 3 4 Sola, Katie (May 25, 2016). "The Richest Person in Every Western State". Forbes . Retrieved October 31, 2016.
  2. 1 2 3 "Scott R. Simplot". Bloomberg L.P. Retrieved November 1, 2016.
  3. 1 2 "Outstanding Alumni: Scott R. Simplot Honorary Doctor of Administrative Sciences". uidaho.edu. University of Idaho . Retrieved November 1, 2016.
  4. 1 2 Longden, Tom. "J.R. Simplot". Des Moines Register . Retrieved November 1, 2016.
  5. 1 2 Zuckerman, Lawrence (February 8, 1996). "From Mr. Spud to Mr. Chips;The Potato Tycoon Who Is the Force Behind Micron". The Wall Street Journal . Retrieved October 31, 2016.
  6. ↑ Anders, George (November 1, 2016). "J.R. Simplot keeps potato business all in the family". Salt Lake Tribune . Retrieved October 31, 2016.
  7. 1 2 3 "He Put The 'Business' Into Argribusiness: Scott R. Simplot, WG'73". Wharton Magazine. Retrieved November 1, 2016.
  8. 1 2 Gogoi, Pallavi (March 7, 2007). "The Man Behind the Cloning Movement". Bloomberg News . Retrieved October 31, 2016.
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