Sir Martin E. Franklin is Chief Executive Officer and Chairman of the Board of Directors at Jarden Corporation. As a child, he was brought up to make deals, and his stellar career path is testimony to that fact. He makes a staggering $2 million per year, as of 2007, with bonuses bringing that figure up to about $3 million. One might say that his is a career young executives dream about.
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Franklin attended the University of Pennsylvania and graduated in 1986 with a bachelor’s degree in Political Science. He married and had three sons and a daughter.
At the age of 24, Franklin joined his father in the takeover of DRG, a British paper and packaging company. After the company was split, it took over two years to sell it and no profit was made. However, the experience he gained was invaluable to his corporate career.
While still in London and working with his father, Sir Martin Franklin started an eyewear company, Benson Eye Care, which was actually composed of several companies. Four years after starting the company he sold it for $50 million.
Franklin is presently involved in many aspects of the business world. As CEO of Jarden Corporation, he is also able to lend money and support to certain causes. One of his efforts is on behalf of the veterans of the armed services. It is called Wounded Warrior Project (WWP). This program seeks to help men and women who have been seriously injured while serving our country. Recently an event that was held to raise awareness of this cause was held in Death Valley, California. This was a 135-mile run for the purpose of establishing a program for hiring veterans. Franklin ran in this marathon himself and was seeking sponsors of $13,500 per mile. His company donated $27,000 and he personally is donating $135,000.
Sir Martin Franklin has served as a member of the boards of the following companies:
Benson Eye Care Corporation, CEO from 1992 to 1996
Benson Eye Care Corporation, Chairman of the Board from 1992 to 1996
Bolle Inc., Chairman from 1997 to 2000
Lumen Technologies, CEO from 1996 to 1998
Lumen Technologies, Chairman of the Board from 1996 to 1998
Freedom Acquisition Holding, Inc., Chairman of the Board
Kenneth Cole Productions, member of the board
Jarden Corporation headquarters is located in Rye, New York, but the company has more than 20,000 employees throughout the world. The company started when Franklin was supposed to buy Alltrista and did not do so. Instead, he got the CEO job that he presently has. Alltrista was a company that sold a mixture of different industrial products and had been manufacturing Ball canning jars that are still used today. The efforts to purchase this company were fruitless, but when the board of directors of the company heard his plans they were decidedly impressed enough to offer him the position of CEO. The name was changed to Jarden in 2003.
The focus has always been on necessary home products. One of the products that became a big seller was the Oster, which prompted a spin-off called Margaritaville. This frozen-drink blender has generated a $40 million business.
Even through business hardship, Franklin remains hopeful and manages to keep his companies afloat. Young executives would be wise to look to Franklin and his career as a model for their own.
