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For the former Australian rules football player, see Tim Boyle

Timothy Boyle (born 1949) is an American billionaire, and the president and CEO of Columbia Sportswear.[2]

Timothy Boyle
Born1949 (age 69–70)
ResidencePortland, Oregon, US
NationalityAmerican
EducationJesuit High School
Alma materUniversity of Oregon
OccupationBusinessman
Net worthUS$2.5 billion (November 2019)[1]
TitlePresident and CEO, Columbia Sportswear
Term1988-
Spouse(s)Mary Boyle
Children2
Parent(s)Gert Lamfromm Boyle
Joseph Cornelius "Neal" Boyle

Early lifeEdit

Boyle was born and grew up in Portland, Oregon.[3] He is one of three children of Joseph Cornelius "Neal" Boyle, an Irish Catholic, and Gertrude Lamfrom.[4] His mother was Jewish and fled as a teenager from Nazi Germany. She immigrated to Portland, Oregon,[5] and converted to Catholicism after marrying her husband.[5] He has two sisters: Kathy Boyle (born 1952) and Sally Boyle (born 1958).[4]

His grandfather purchased the Rosenfeld Hat Company[4] and changed its name to the Columbia Hat Company[6] (after the river).[4] His father became president of Columbia Hat after his grandfather died and then diversified the hat business into outerwear[4] for hunters, fishermen, and skiers.[5] In 1960, his mother designed the first fishing vest (his father was an avid fisherman) and the name of the company was changed to Columbia Sportswear.[6]

Boyle was educated at Jesuit High School, in Beaverton, Oregon, just outside Portland, followed by the University of Oregon, where he earned a bachelor's degree in journalism in 1971.[7]

CareerEdit

Boyle was still at university when his father died in 1970[8] at the age of 47. He left to join his mother, who had become president of Columbia, which was then earning $800,000 in annual sales.[4] The company struggled and teetered on bankruptcy[9] until in the 1970s when Boyle and his mother refocused the business on outdoor clothing and casual wear which paralleled a general trend away from formal work attire.[10] In 1975, they were the first company to introduce Gore-Tex parkas.[6]

In 1986, Columbia released the Bugaboo, a jacket with a zip out lining which became quite trendy and further propelled the company's growth.[4] Columbia was unique among specialty clothing manufacturers in that it would sell its products to any retail shop or chain.[5] In 1987, Columbia had $18.8 million in sales and by 1997 it had grown to $353.5 million.[5] Boyle took over from his mother, Gert, as company president in 1988.

The company went public in 1998.[10] In the early 2010s, Boyle refocused Columbia away from top line products and more towards the mid-range, moderately priced products; he also continued to align sales with changes happening in the retail industry, shifting the company more toward internet sales.[2]

Boyle's 41% ownership interest in Columbia Sportswear was worth over $1.0 billion in 2013.[2]

Personal lifeEdit

Boyle and his wife Mary have a son, educated at Drake University in Des Moines, and a daughter, educated at the University of Washington.[11] They live in Portland, Oregon.[1]

In 2007, he and his wife Mary donated $5 million to the University of Oregon.[12] In 2016, he donated $10 million to the University's aquatic animal care facility.[13] More recently the couple donated $10 million towards a biomedical data science initiative.[14]

ReferencesEdit

  1. ^ a b "Forbes profile: Timothy Boyle". Forbes. Retrieved 5 November 2019.
  2. ^ a b c Forbes: "Columbia Sportswear Thrives, Lifting CEO Tim Boyle To Billionaire Ranks" by Kathryn Dill November 8, 2013
  3. ^ "Columbia Sportswear CEO Tim Boyle Buys Gearhart Golf Links". The A Position. Retrieved 5 November 2019.
  4. ^ a b c d e f g Whitford, David; Gert Boyle (September 1, 2003). "Gert Boyle Columbia Sportswear Co". Fortune Small Business. Retrieved 10 November 2013.
  5. ^ a b c d e Immigrant Entrepreneurship: "Gertrude Boyle" retrieved November 9, 2013
  6. ^ a b c "History". About Us. Columbia Sportswear. Archived from the original on 9 November 2013. Retrieved 10 November 2013.
  7. ^ "Columbia:Officers and Directors". Columbia. Retrieved 4 December 2017.
  8. ^ Oregon Business: "Tim Boyle charts the future as Columbia Sportswear turns 75" by Linda Baker January 28, 2013
  9. ^ Harriet Shapiro; Diane S. Lund (September 18, 1989). "Gert Boyle Has a Vested Interest in George Bush's Fishing Fortunes". People. Archived from the original on November 9, 2013. Retrieved November 9, 2013.
  10. ^ a b Boyle, Gert (April 1, 2006). "How I Did It: Gert Boyle, chairman, Columbia Sportswear". Inc. magazine. Retrieved November 9, 2013. Italic or bold markup not allowed in: |work= (help)
  11. ^ "Tim Boyle: CEO Columbia Sportswear". Portland Interview Magazine. October 2, 2012. Retrieved 4 December 2017.
  12. ^ Business Wire: "Columbia Sportswear Tim Boyle, Wife Donate $5 Million to University of Oregon" April 13, 2007
  13. ^ Katu: "Columbia Sportswear CEO donates $10 million to University of Oregon" February 28, 2016
  14. ^ "Couple gives $10 million to support biomedical data science". Around the O. Retrieved 6 November 2019.