People: R. Drayton McLane Jr.
R. DRAYTON McLANE, JR.: ASTRONOMICAL SUCCESS
Move over, Ross Perot. America's favorite self-made Texas millionaire might well become R. Drayton McLane, Jr., MBA '59, of Temple, TX, who boasts ownership of the $115-million Houston Astros baseball team and a personal fortune estimated by Forbes at $360 million. McLane's success mirrors Perot's, except he prefers to play 'hardball' on a diamond.
At age nine, Drayton got his first job sweeping the warehouse floors of his family's grocery business in Cameron. After his MBA from MSU, he got a job 'loading trucks during the second shift' at McLane Co., a family firm with 47 employees. He climbed steadily to become president and CEO in 1978, and then aggressively expanded it into a $5-billion-a-year operation with 7,700 employees--the world's largest supplier to convenience stores with 40,000 retail customers in the U.S., Great Britain, Spain and Mexico.
In 1990 Drayton merged with Sam Walton and now serves as vice chairman of Wal-Mart Stores, Inc. Last summer, to the delight of fans, he bought the Houston Astros franchise. What's the secret of his success? 'A philosophy of honesty, integrity and Christian principles,' says the 'humble little grocer,' as Drayton still calls himself. 'We start every meeting by stating our mission in these terms.'
Drayton also gives enormous credit to MSU. 'My experience at MSU was a maturing process,' he recalls. 'The professors really inspired me and took a genuine interest in students. I gained self-confidence. You might say MSU is where I really blossomed.' He recalls: 'There were about 40 in our class (in food systems management), most of them executives with practical experience in the field. About 15 of us still keep in touch regularly.'
Active in civic and charitable affairs, Drayton is national chairman of the Children's Miracle Network and serves on university and hospital boards. His current goal? 'We're going to bring enthusiasm and excitement back to the Houston Astros,' he says. 'In life as in business, you want to bring out the best in everyone.'
