Ronald J. "Ron" Kramer (born 1958) is an

American American(s) may refer to: * American, something of, from, or related to the United States of America, commonly known as the "United States" or "America" ** Americans, citizens and nationals of the United States of America ** American ancestry, pe ...

business executive. He is the Chairman and

CEO A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...

Griffon Corporation Griffon Corporation is a multinational conglomerate headquartered in New York City. The company conducts its operations through five subsidiaries: The AMES Companies, ClosetMaid, Clopay Building Products, CornellCookson, and Telephonics Corp ...

, a

conglomerate Conglomerate or conglomeration may refer to: * Conglomerate (company) * Conglomerate (geology) * Conglomerate (mathematics) In popular culture: * The Conglomerate (American group), a production crew and musical group founded by Busta Rhymes ** Co ...

holding company A holding company is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own shares of other companies ...

headquartered in

New York New York most commonly refers to: * New York City, the most populous city in the United States, located in the state of New York * New York (state), a state in the northeastern United States New York may also refer to: Film and television * '' ...

Biography

Kramer received a

B.S. A Bachelor of Science (BS, BSc, SB, or ScB; from the Latin ') is a bachelor's degree awarded for programs that generally last three to five years. The first university to admit a student to the degree of Bachelor of Science was the University of ...

from the

Wharton School of the University of Pennsylvania The Wharton School of the University of Pennsylvania ( ; also known as Wharton Business School, the Wharton School, Penn Wharton, and Wharton) is the business school of the University of Pennsylvania, a Private university, private Ivy League rese ...

in 1980 and a MBA from

New York University New York University (NYU) is a private research university in New York City. Chartered in 1831 by the New York State Legislature, NYU was founded by a group of New Yorkers led by then-Secretary of the Treasury Albert Gallatin. In 1832, the ...

in 1981. He started his career at

Citibank Citibank, N. A. (N. A. stands for " National Association") is the primary U.S. banking subsidiary of financial services multinational Citigroup. Citibank was founded in 1812 as the City Bank of New York, and later became First National City ...

and then worked as a corporate finance specialist at

Ladenburg Thalmann Ladenburg Thalmann Financial Services is a diversified financial services company with two primary business lines: independent brokerage and advisory and investment banking and capital markets. The company is engaged in investment banking, equit ...

, a

-based investment bank, for thirteen years, becoming

Chairman The chairperson, also chairman, chairwoman or chair, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the grou ...

and

in 1995. In 1999, Kramer became a

Managing Director A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...

and Partner at Wasserstein Perella & Co. and its successor

Dresdner Kleinwort Wasserstein Kleinwort Hambros is a private bank owned by Société Générale that offers financial services from offices throughout the United Kingdom and Channel Islands. Kleinwort Hambros focuses on private banking, providing a range of services for high ...

. Kramer left

Wall Street Wall Street is an eight-block-long street in the Financial District of Lower Manhattan in New York City. It runs between Broadway in the west to South Street and the East River in the east. The term "Wall Street" has become a metonym for t ...

in 2002 to become President and Director of Wynn Resorts Ltd (), a

Las Vegas Las Vegas (; Spanish for "The Meadows"), often known simply as Vegas, is the 25th-most populous city in the United States, the most populous city in the state of Nevada, and the county seat of Clark County. The city anchors the Las Vegas ...

-based developer and operator of destination casino resorts. Kramer succeeded his father-in-law

Harvey R. Blau Harvey R. Blau (November 14, 1935 – January 19, 2018) was an Americans, American Lawyer, attorney and business executive. He was the Chairman of the Board and former CEO of Griffon Corporation (formerly Instrument Systems Corporation). He becam ...

as CEO of Griffon in 2008. To improve Griffon's balance sheet, Kramer secured a new $100 million revolving line of credit from

JPMorgan Chase JPMorgan Chase & Co. is an American multinational investment bank and financial services holding company headquartered in New York City and incorporated in Delaware. As of 2022, JPMorgan Chase is the largest bank in the United States, the ...

, exited the residential installation services business, refinanced Griffon's senior debt, and raised approximately $250 million through a common stock rights offering with investments by

Goldman Sachs Goldman Sachs () is an American multinational investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered at 200 West Street in Lower Manhattan, with regional headquarters in London, Warsaw, Bangalore, H ...

and Kramer himself. This recapitalization built a foundation to transform the company for growth. In 2017, Kramer repositioned Griffon's Portfolio by selling its Clopay Plastics business and acquiring ClosetMaid a home storage and organization business. In addition, Griffon executed a number of smaller tuck-in acquisitions for Griffon's subsidiary, The AMES Companies, which expanded the company's geographic footprint in Australia and the United Kingdom as well as expanding the AMES product portfolio. In May 2018, Griffon announced the acquisition of CornellCookson, a leader in rolling steel commercial doors, to further expand Griffon's Clopay Building Products in the commercial market. Griffon operates as a diversified management and holding company, conducting business through its wholly owned subsidiaries:

Clopay Building Products Griffon Corporation is a multinational conglomerate headquartered in New York City. The company conducts its operations through five subsidiaries: The AMES Companies, ClosetMaid, Clopay Building Products, CornellCookson, and Telephonics Corpo ...

, the largest manufacturer of residential garage doors in North America; The AMES Companies, a leading global manufacturer of non-powered lawn and garden tools and accessories; ClosetMaid, a leading North American manufacturer and marketer of closet organization, home storage, and garage storage products; and

Telephonics Corporation Griffon Corporation is a multinational conglomerate headquartered in New York City. The company conducts its operations through five subsidiaries: The AMES Companies, ClosetMaid, Clopay Building Products, CornellCookson, and Telephonics Corp ...

, a manufacturer of advanced electronic surveillance, intelligence and communication systems for defense, aerospace and civil applications. Kramer has served on the Board of Directors of Leap Wireless International,

Monster Worldwide Monster Worldwide, Inc. is an American provider of employment services, the largest of which is Monster.com. Through online media sites and services, the company delivers targeted audiences to advertisers. In 2010, these operating segments re ...

, Sapphire Industrials Corporation,

Grand Casinos Grand Casinos () was a casino operator, co-founded by poker player Lyle Berman and Dave Anderson, Founder of Famous Dave's BBQ Restaurants, that started out managing several casinos in Minnesota in 1990. The company ceased to exist when it was pur ...

, Republic Properties,

New Valley Corporation New Valley LLC is an American investment company owned by Vector Group. History Western Union was renamed New Valley in the early 1990s as the corporate parent of all Western Union-related businesses. In 1994, New Valley sold its Western Union bu ...

, and Lakes Entertainment. Kramer currently serves as the Chairman of the Undergraduate Board of the

Wharton School The Wharton School of the University of Pennsylvania ( ; also known as Wharton Business School, the Wharton School, Penn Wharton, and Wharton) is the business school of the University of Pennsylvania, a private Ivy League research university in P ...

. He resides with his wife, Stephanie, and two daughters in New York City.

Personal life

In 1992, he married Stephanie Blau, daughter of

, in a

Jewish Jews ( he, יְהוּדִים, , ) or Jewish people are an ethnoreligious group and nation originating from the Israelites Israelite origins and kingdom: "The first act in the long drama of Jewish history is the age of the Israelites""The ...

ceremony at the Metropolitan Club in

Manhattan Manhattan (), known regionally as the City, is the most densely populated and geographically smallest of the five boroughs of New York City. The borough is also coextensive with New York County, one of the original counties of the U.S. state ...

References

{{DEFAULTSORT:Kramer, Ronald Living people 1958 births 20th-century American businesspeople 21st-century American businesspeople 20th-century American Jews American chief executives American corporate directors Wharton School of the University of Pennsylvania alumni New York University Stern School of Business alumni New York University alumni 21st-century American Jews