26 Facts About Derald Ruttenberg

Derald H Ruttenberg was a lawyer who became a deal maker, organizing large industrial mergers.

Derald Ruttenberg arranged the merger of Studebaker and Worthington Corporation, and for some time ran the combined Studebaker-Worthington.

Derald Ruttenberg provided the financing for the Derald H Ruttenberg Cancer Center at Mount Sinai Hospital, New York.

Derald Ruttenberg was born on 17 February 1916 in Lafayette, Indiana.

Derald Ruttenberg studied philosophy at the University of Wisconsin, graduating in 1937.

Derald Ruttenberg went on to the Yale Law School where he earned an LL.

Derald Ruttenberg served in the US Air Force during World War II and served in Europe in the US Strategic Bombing Survey.

Derald Ruttenberg received an honorable discharge as a lieutenant in 1945.

Derald Ruttenberg then became owner of a number of privately held industrial companies in the American Midwest.

Derald Ruttenberg borrowed the money to make his purchases, using methods that foreshadowed leveraged buy-out firms.

Derald Ruttenberg avoided publicity and focused on basic industries where he saw hidden potential, such as foundries and private manufacturers.

Derald Ruttenberg moved to New York where he became chairman of I-T-E Circuit Breaker in 1967.

In 1967 Derald Ruttenberg arranged the merger between Studebaker and Worthington.

Derald Ruttenberg took the risk of buying Studebaker despite the liabilities that came with it, including dealer warranties and union agreements.

Derald Ruttenberg saw that Onan generators and STP engine additives were healthy businesses.

In January 1969 Derald Ruttenberg became president and chief executive officer.

Derald Ruttenberg was determined to weed out all poorly performing units.

The Alco Products Division, a railway locomotive manufacturer, became a victim of Derald Ruttenberg's drive for profit.

Derald Ruttenberg became chairman and chief executive officer of Studebaker-Worthington in 1971.

One of his golfing partners was Ted Forstmann, who arranged for Derald Ruttenberg to meet Henry Kravis and Jerry Kohlberg of the start-up Kohlberg Kravis Roberts.

From 1980 to 1982 Derald Ruttenberg was chairman of the Madison Fund, an investment fund.

Derald Ruttenberg was successfully treated at Mount Sinai for lymphoma, and in 1986 donated $7 million to found centers for cancer research and treatment at the hospital.

Derald Ruttenberg gave a donation to Yale Law School, which thoroughly restored and renovated its Wall Street wing, renamed Derald Ruttenberg Hall.

Derald Ruttenberg endowed the Derald H Ruttenberg Professorial Lectureship at Yale Law School in 1993.

Derald H Ruttenberg died at Mount Sinai from complications of lung cancer on 19 September 2004, aged 88.

Derald Ruttenberg was survived by his wife, Janet, and four children.