Clay Mathile
| Clay Mathile | |
|---|---|
| Born |
Clayton Lee Mathile January 11, 1941 |
| Residence | Brookville, Ohio, US |
| Nationality | American |
| Alma mater | Ohio Northern University |
| Net worth | $3.4 billion (April 2015) |
| Spouse(s) | married |
| Children | 5 |
Clayton Lee "Clay" Mathile (pronounced [Muh-til]), born January 11, 1941, is an American entrepreneur, investor and philanthropist, best known for leading The Iams Company, to nearly $1 billion in sales before selling it to Procter & Gamble for $2.3 billion in 1999 in what was, at the time, the largest cash-only deal in P&G's history. Mathile shared some of the proceeds with 2,000 Iams employees.
In 1970, dissatisfied with corporate life, Mathile accepted a job as sales manager at a small, regional pet food manufacturer: The Iams Food Company in Dayton, Ohio. Over time, he became the company's sole owner, CEO, and chairman. Known for his commitment to developing products that delivered superior nutrition, Mathile also emphasized innovative marketing. He is one of the few entrepreneurs to lead a company with two successful premium brands — Iams and Eukanuba.
Mathile was born the oldest child of Wilbert "Bill" Ray Mathile and Helen Good Mathile (married in 1939) in the tiny, northwest Ohio town of Portage, where his parents owned and operated a 40-acre farm. Growing up on the family farm — where everyone worked together to raise crops such as wheat, soybeans, hay, and oats, as well as dairy and beef cattle — instilled Mathile with an abiding respect for the role of the farmer, a keen interest in entrepreneurship, a love of learning and discovery, a strong sense of self-discipline, and an intense work ethic.
Mathile asked to start school at age four and soon reported to the local two-room schoolhouse. By age six, he helped milk and feed the family’s twenty cows, tended extensive vegetable gardens, and participated in family dinner meetings about farm operations. Playing an active role in running the farm and working for successful local entrepreneurs like oil wildcatter Harry Moran sparked his early interest in business. Also at age six, Mathile traveled outside northwestern Ohio for the first time during a family trip to Arkansas, where his great-uncle owned a prosperous farm, sawmill, and cotton gin.
Mathile graduated at age 16 from Portage High School, ranking first in his small class of 14 students. He also lettered in basketball and earned an honorable mention for the all-state team, feats that helped to earn him a spot on the basketball team at Ohio Northern University in Ada, Ohio. He initially studied mechanical engineering before transferring to the business school. When an expected scholarship fell through, Mathile took a job pumping gas.
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