Jerry W. Levin (born 1944) is an American businessman.
Levin is a CEO, turnaround expert and mergers & acquisitions specialist. He is currently chairman and chief executive officer of Wilton Brands Inc., chairman and chief executive officer of JW Levin Partners LLC, and serves on the board of directors of Ecolab (NYSE: ECL); Saks (NYSE: SKS); U.S. Bancorp (NYSE: USB)
Biography and education
Levin graduated from the University of Michigan with B.S.E. degrees in Electrical Engineering and Mathematics and received an MBA from the University of Chicago in 1968.
Pillsbury
From 1974 to 1989, Levin worked for the Pillsbury Company. In his initial capacity as head of corporate development, Levin completed hundreds of mergers, acquisitions and divestitures. Some of the transactions he led included Häagen-Dazs, Green Giant, Totino's Pizza, Steak and Ale, Chart House, and American Beauty Macaroni. Levin also became the chief executive officer of several operating units within Pillsbury, including Häagen-Dazs and the second largest restaurant group in the U.S. (comprising Burger King, Steak and Ale, Bennigan's, Chart House and Godfather's Pizza).
Coleman
From 1989 until 1991, Levin was the chief executive officer of The Coleman Company, Inc., or Coleman. During his tenure as their chief executive officer, he divested non-strategic businesses to devote resources to their core camping business. He returned as chief executive officer of Coleman from 1997 until the sale of Coleman to Sunbeam Corporation in 1998.
Revlon
From 1991 until 1997, Levin was the chief executive officer of Revlon, Inc. When he joined Revlon, it was suffering from significant losses and debt load, and had a number three, and declining, market share in the United States mass market for color cosmetics. By the end of his tenure as chief executive officer, the firm had been restructured with its debt load significantly reduced and the number one market share in the United States mass market for color cosmetics. Levin oversaw the divestiture of non-strategic businesses, and the development and launch of several new products and brands, including Colorstay.
American Household
From June 1998 until January 2005, Levin served as chairman and chief executive officer of American Household, Inc. (formerly named Sunbeam), the holding company for Coleman, Sunbeam Products, Inc., Coleman Powermate, Inc., and First Alert, Inc. He was hired after the termination of Al Dunlap with Sunbeam facing numerous significant financial, operational and legal issues, and restructured Sunbeam’s operations during 1999 and 2000; in 2001, he led Sunbeam through a chapter 11 restructuring. American Household, Inc., was sold in two separate transactions during 2004 and at the time of its sale, its businesses were the leading or one of the leading businesses in the markets they served.
JW Levin Partners & Sharper Image
While at JW Levin Partners, a private management and investment firm, Levin was chairman of Sharper Image Corporation from September 2006 to April 2008 and interim chief executive officer of the firm from September 2006 through April 2007.
On February 19, 2008, the company filed for Chapter 11 bankruptcy, as a result low sales, aggravated by a decline in consumer spending and negative publicity surrounding its Ionic Breeze air purifiers.[13] Some analysts concluded Levin was responsible, having ignored any advice or wisdom from Thalheimer, and previous management.
On April 10, 2008, Levin resigned as a member and chairman of the board to join other investors in acquiring some or all of the company’s businesses or assets.[14][15] through JWL Partners Acquisition Corp., a SPAC, or special-purpose acquisition company, submitted an IPO filing. The filing showed $200 million proceeds targeted. The underwriting group was listed as Credit Suisse and Ladenburg Thalmann & Co. They applied to list under the ticker “JWL.U” on the American Stock Exchange. The filing stated that the blank check corporation intended to acquire or acquire control of one or more businesses.[19][20] On December 22, 2008, however, JWL Partners Acquisition withdrew its IPO due to poor market conditions, and the faltering U.S. and Global economies.[21] This made Levin seem to be more bluster than substance.
