Tom Duncan

Last updated
Tom Duncan
Education M.B.A. in International Business Studies
Alma mater University of Virginia
University of South Carolina (M.B.A.)
Occupation CEO of Positec

Tom Duncan is an American entrepreneur and business executive who is the current President and CEO of the North American division of the Positec Tool Corporation. [1] [2] He was previously an executive for the Vermont American Tool Company, which was a joint venture between the Robert Bosch Tool Group and the Emerson Electric Company. [3] He has been featured in publications and media like The New York Times , [4] The Wall Street Journal , [2] and the Bloomberg Television program, Taking Stock. [5]

Contents

Early life and education

Tom Duncan grew up in Nashville, Tennessee. [3] He has indicated that his early interest in tools was a product of his father's penchant for home improvement when Duncan was a child. [5] Duncan attended the University of Virginia where he earned a business degree. He then took a job at Lawler Ballard Advertising in Nashville, Tennessee where he wrote sales brochures and managed accounts. He would quit that job to attend the University of South Carolina's Moore School of Business where he earned an M.B.A. in International Business Studies. He also took an intensive course in the German language and spent 8 months in Germany as an intern at a packaging machinery company. He would graduate from the M.B.A. program in 1991. [4] [6]

Career

After earning his M.B.A., Duncan was recruited by the Germany-based Robert Bosch Tool Group to work at the Vermont American Tool Company, which was jointly owned with the Emerson Electric Company. He was promoted to Vice President of Vermont American in 1998, and remained in that position when Bosch purchased the company outright. He left the Robert Bosch Tool Group in 2003 [6] with the intention of starting his own business. [7]

He acquired the rights to use the "Rockwell" brand name for power tools in 2004. The brand name had not been in use for tools since the 1980s. [8] In 2004, he also met Don Gao, the CEO of the Positec Tool Corporation based in Suzhou, China. Duncan partnered with Gao and became the head of Positec's North American division in 2005. There, he began marketing and selling WORX and Rockwell products to American consumers. [6] Early on, Duncan and Positec had difficulty selling their products to major American retailers like Lowe's and The Home Depot. The retailers wanted to use their own brand names for the products rather than Positec's WORX and Rockwell Tools brands. [9]

Because Duncan wanted to maintain the private branding of the products, he and his Positec staff opted for direct response marketing in the form of infomercials. The company launched its first infomercial for the battery-powered WORX GT lawn trimmer in March 2007. By the end of that year, the company had sold over 300,000 WORX GT units. [3] During that year, the company also launched the Rockwell Tools line of power tools and accessories. [10] In October 2009, Duncan helped Positec become a supplier of Lowe's, and, in 2010, Lowe's named Positec its "Innovator of the Year." [1]

By 2012, Duncan had helped oversee Positec's inclusion in additional retailers like Costco, Walmart, and The Home Depot. [10] He was also instrumental in moving the company's distribution facility from Long Beach, California to Huntersville, North Carolina, which is closer to the company's headquarters in Charlotte. [11]

Related Research Articles

Rockwell International Defunct American manufacturing conglomerate

Rockwell International was a major American manufacturing conglomerate involved in aircraft, the space industry, defense and commercial electronics, components in the automotive industry, printing presses, avionics and industrial products. Rockwell International's predecessor was Rockwell Manufacturing Company, founded in 1919 by Willard Rockwell. In 1968, Rockwell Manufacturing Company included 7 operating divisions manufacturing industrial valves, German 2-cycle motors, power tools, gas and water meters. In 1973, it was combined with the aerospace products and renamed Rockwell International. At its peak, Rockwell International was No. 27 on the Fortune 500 list, with assets of over $8 billion, sales of $27 billion and 115,000 employees.

Robert Bosch GmbH German conglomerate

Robert Bosch GmbH, commonly known as Bosch, is a German multinational engineering and technology company headquartered in Gerlingen. The company was founded by Robert Bosch in Stuttgart in 1886. Bosch is 92% owned by Robert Bosch Stiftung, a charitable institution.

An infomercial is a form of television commercial that resembles regular TV programming yet is intended to promote or sell a product, service or idea. It generally includes a toll-free telephone number or website. Most often used as a form of direct response television (DRTV), they are often program-length commercials, and are typically 28:30 or 58:30 minutes in length. Infomercials are also known as paid programming. This phenomenon started in the United States, where infomercials were typically shown overnight, outside peak prime time hours for commercial broadcasters. Some television stations chose to air infomercials as an alternative to the former practice of signing off, while other channels air infomercials 24 hours a day. Some stations also choose to air infomercials during the daytime hours, mostly on weekends, to fill in for unscheduled network or syndicated programming. By 2009, most infomercial spending in the U.S. occurred outside of the traditional overnight hours. Stations in most countries around the world have instituted similar media structures. The infomercial industry is worth over $200 billion.

Best Buy Consumer electronics retailer

Best Buy Co. Inc. is an American multinational consumer electronics retailer headquartered in Richfield, Minnesota. Originally founded by Richard M. Schulze and James Wheeler in 1966 as an audio specialty store called Sound of Music, it was rebranded under its current name with an emphasis on consumer electronics in 1983.

Ace Hardware American hardware cooperative

Ace Hardware Corporation is an American hardware retailers' cooperative based in Oak Brook, Illinois, United States. It is the world's largest hardware retail cooperative, and the largest non-grocery American retail cooperative.

PTC (software company) U.S.-based software company

PTC Inc. is an American computer software and services company founded in 1985 and headquartered in Boston, Massachusetts. The global technology company has over 6,000 employees across 80 offices in 30 countries, 1,150 technology partners and over $1bn in revenue. The company began developing parametric, associative feature-based, solid computer-aided design (CAD) modeling software in 1988, including an Internet-based product for product lifecycle management (PLM) in 1998.

Hardware store Store that sells household hardware for home improvement

Hardware stores, sometimes known as DIY stores, sell household hardware for home improvement including: fasteners, building materials, hand tools, power tools, keys, locks, hinges, chains, plumbing supplies, electrical supplies, cleaning products, housewares, tools, utensils, paint, and lawn and garden products directly to consumers for use at home or for business. Many hardware stores have specialty departments unique to its region or its owner's interests. These departments include hunting and fishing supplies, plants and nursery products, marine and boating supplies, pet food and supplies, farm and ranch supplies including animal feed, swimming pool chemicals, homebrewing supplies and canning supplies. The five largest hardware retailers in the world are The Home Depot, Lowe's, Kingfisher of the United Kingdom, Obi of Germany, and Leroy Merlin of France.

Craftsman is a line of tools, lawn and garden equipment, and work wear. Originally a house brand established by Sears, the brand is now owned by Stanley Black & Decker.

Dick Smith Holdings Limited was an Australian chain of retail stores that sold consumer electronics goods, hobbyist electronic components, and electronic project kits. The chain expanded successfully into New Zealand and unsuccessfully into several other countries. The company was founded in Sydney in 1968 by Dick Smith and owned by him and his wife until they sold 60% to Woolworths in 1980, and the remaining 40% two years later.

Emerson Electric American multinational corporation

Emerson Electric Co. is an American multinational corporation headquartered in Ferguson, Missouri. The Fortune 500 company manufactures products and provides engineering services for industrial, commercial, and consumer markets. Emerson has approximately 86,700 employees and 170 manufacturing locations.

Harris Teeter American supermarket chain

Harris Teeter Supermarkets, Inc., also known as Harris Teeter Neighborhood Food & Pharmacy, is an American supermarket chain based in Matthews, North Carolina, a suburb of Charlotte. As of November 2021, the chain operates 261 stores in seven South Atlantic states and the District of Columbia. Supermarket News ranked Harris Teeter No. 34 in the 2012 "Top 75 Retailers & Wholesalers" based on 2011 fiscal year sales of $4.3 billion.

Pentair plc (PNR) is an American water treatment company incorporated in Ireland with tax residency in UK, with its main U.S. office in Golden Valley, Minnesota. Pentair was founded in the US, with 65% of company's revenue coming from the US and Canada as of 2017. PNR was reorganized in 2014, shifting the corporate domicile from Switzerland to Ireland.

The Home Depot American home improvement supplies retailing company

The Home Depot is an American multinational home improvement retail corporation that sells tools, construction products, appliances, and services. Home Depot is the largest home improvement retailer in the United States. In 2021, the company had 490,600 employees and more than $151 billion in revenue. The company is headquartered in incorporated Cobb County, Georgia, with an Atlanta mailing address.

Kevin Harrington is an American entrepreneur and business executive. He has appeared on the television series Shark Tank.

WORX Brand of lawn and garden equipment

WORX, sometimes stylized as Worx, is a line of lawn and garden equipment and power tools owned and distributed by the Positec Tool Corporation, a manufacturing company based in Suzhou, China, with North American headquarters in Charlotte, North Carolina. The brand is known primarily for its lawn and garden tools like trimmers, lawn mowers, and chainsaws. In North America, WORX products can be found at numerous major retailers including Lowe's, Walmart, The Home Depot, Canadian Tire, and Costco. The brand is also sold on other continents, such as in Europe.

Kobalt is a line of hand and mechanics' tools, power tools, and tool storage products owned by the American home improvement chain Lowe's. It is the house brand for both Lowe's in North America and their joint venture with the now defunct Masters Home Improvement in Australia.

SPX Corporation is a supplier of highly engineered infrastructure equipment and technologies. The company operates within four markets: heating, ventilation, and air conditioning (HVAC), detection and measurement, power transmission and generation, and engineered solutions. Examples of SPX’s products include cooling towers and boilers, underground pipe and cable locators, power transformers, and heat exchangers. Brands include Waukesha, Dielectric, Fahrenheat, Radiodetection, and Pearpoint. SPX operates in 17 countries with a sales presence in 100 countries. In 2019, the company earned approximately $1.5 billion in annual revenue. Based in Charlotte, North Carolina, SPX employs over 6,000 employees. Eugene Joseph Lowe is the CEO.

Ajit "A. J." Khubani is an American inventor, entrepreneur and marketing executive. Known as the "Infomercial King," Khubani is the founder and CEO of the infomercial firm Telebrands and a pioneer of the infomercial industry. He is the creator of the original "As seen on TV" logo and category at retail.

The Positec Tool Corporation, or simply Positec, is a manufacturing company that specializes in the production of power tools and lawn and garden equipment. The company's corporate headquarters are located in Suzhou, China and the head of its North American division is located in Charlotte, North Carolina. Positec is known for its production of the Rockwell Tools and WORX brands which can be found in retailers like Lowe's, The Home Depot, Costco, and Walmart.

Rockwell Tools is a line of power tools that is currently owned and distributed by Positec Tool Corporation, a China-based company with North American headquarters in Charlotte, North Carolina. The brand offers power tools and hand tools that are most often used in professional and private construction, automotive repair, and woodworking. Its products are sold at a variety of retailers including Lowe's, Costco, and The Home Depot.

References

  1. 1 2 Boye, Will (15 July 2011). "Positec finds tools for growth". Charlotte Business Journal . Retrieved 30 April 2015.
  2. 1 2 Kapner, Suzanne (28 May 2013). "At Sears, CEO's Tech Focus Hasn't Led to a Turnaround". The Wall Street Journal . Retrieved 30 April 2015.
  3. 1 2 3 Haire, Thomas (1 November 2012). "DR Gives Positec a Big Edge". Response Magazine. Retrieved 30 April 2015.
  4. 1 2 Duncan, Tom (26 May 2012). "Immersed in Global Business". The New York Times . Retrieved 30 April 2015.
  5. 1 2 Pimm Fox (interviewer) (20 May 2014). Positec Measures U.S. Home Market With Tool Sales. Bloomberg Television . Retrieved 30 April 2015.
  6. 1 2 3 "Positive Technology". Greater Charlotte Biz. August 2014. Archived from the original on 4 March 2016. Retrieved 30 April 2015.
  7. ↑ Minter, Steve (3 June 2011). "Positec's Path to Success Built on Brand". IndustryWeek . Retrieved 30 April 2015.
  8. ↑ Flannery, Russell (3 December 2010). "Doing It Himself". Forbes . Retrieved 30 April 2015.
  9. ↑ Pellet, Jennifer (15 February 2012). "DIY Brand Building". Chief Executive . Retrieved 30 April 2015.
  10. 1 2 Shao, Heng (3 July 2012). "Chinese Power Tool Company To Expand U.S. Market". Forbes . Retrieved 30 April 2015.
  11. ↑ Wilson, Jen (24 February 2012). "Positec Tool Corp. opens Huntersville distribution facility". Charlotte Business Journal . Retrieved 30 April 2015.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.