John D. Macomber
John Dewitt Macomber | |
|---|---|
| Born | 13 January 1928 Rochester, New York, U.S. |
| Died | 2 August 2024 (aged 96) Washington, D.C., U.S. |
| Occupation(s) | Banker, businessman |
| Known for | Founder of JDM Investment Group; President of Export-Import Bank of the United States (1989–1992); Chairman and CEO of Celanese Corporation (1973–1986) |
John Dewitt Macomber (January 13, 1928 – August 2, 2024) was a prominent American banker and the founder of JDM Investment Group. From 1989 until 1992, he held the position of president at the Export-Import Bank of the United States.
Career
Prior to 1973, Macomber was a senior partner at McKinsey & Co., after which he assumed the roles of chairman and CEO at Celanese Corporation from 1973 through 1986. He departed when Celanese merged with Hoechst AG, creating the largest chemical enterprise globally. During his leadership, Celanese became a pioneer in implementing stock repurchase programs, resulting in approximately 20% ownership by middle management and regular employees who reaped substantial benefits. Over his 13-year leadership span, the company’s stock price escalated tenfold, rising from $24.50 to $245.
Macomber also served as chairman for the Council for Excellence in Government, Rand McNally and Company, and held the position of vice chairman at the Atlantic Council. His directorships extended to several major corporations including Lehman Brothers, Bristol-Myers Squibb Company, The Brown Group, Inc., Chase Manhattan Bank, RJR Nabisco, Pilkington Ltd., and Xerox Corporation. Furthermore, he contributed as a board member to both the Lincoln Center and the International Chamber of Commerce.
Personal life and death
Born in Rochester, New York, Macomber served two years in the United States Air Force. He was the youngest of three brothers, with siblings William Butts Macomber and Robert Macomber. His educational background includes graduation from Phillips Academy, earning a degree from Yale University in 1950, followed by completion of studies at Harvard Business School in 1952. Macomber passed away in Washington D.C. on August 2, 2024, at the age of 96.