SLIDESHOW

ACG New York Women of Leadership - Entrepreneur Series
Barbara Bradley Baekgaard, founder of Vera Bradley (Nasdaq: VRA), is the latest in a series of entrepreneurs highlighted at ACG New York Women of Leadership events. Photo credit: Robert Blumenfeld

Watercooler

GTCR, Hormel, the Riverside Co-CEOs and Others Win M&A Mid-Market Awards
Amid a slow and challenging year for dealmaking, the winners of Mergers & Acquisitions’ 7th Annual M&A Mid-Market Awards outpaced the competition to grow, innovate and lead the middle market

Dealmakers

The Buyside:
Disney, Warner Bros. Seek Next-Gen YouTubes

Traditional Hollywood studios such as Disney and Warner Bros. are seeking next-generation YouTube content providers

The Buyside

Activist Investors Dig Into Mid Market
Spurred on by the high-profile success of Carl Icahn and others, a growing crop of firms is looking further downstream

Retired Signal CEO Forrest Shumway, Considered a “White Knight,” Dies at 85

Shumway ran Signal Oil and Gas for 17 years and saved Mack Trucks and Garrett Corp. from hostile takeovers

Forrest Shumway, the California executive nicknamed “Shum,” who ran Signal Oil and Gas from 1968 to 1985, died on Dec. 4 in La Jolla, Calif., at age 85. The cause was reportedly complications from cancer, his son Garrett Shumway told The New York Times.

Under Shumway’s leadership, Signal grew through acquisitions including Mack Trucks and the Garrett Corp., among other companies. He established a reputation as a “white knight” through those deals, saving both companies from hostile takeovers. In 1985, Shumway oversaw the merger of the Signal with Allied Corp., which later merged into Honeywell International Inc. (Nasdaq: HON).

After his retirement, Shumway served on the boards of Alcoa Inc. (NYSE: AA), Clorox Co. (NYSE:CLX) and Transamerica Life Insurance Co. He also served on the University of Southern California’s board of trustees for years, including from 1990 for 1995 as chairman.

Shumway was a cigar-smoking outdoorsman and philanthropist focused on the arts, reports The New York Times.

Shumway was born in Skowhegan, Maine on March 21, 1927. He attended Deerfield Academy in Massachusetts, joined the Marine Corps and then went to Stanford University. He is survived by his wife, Patsy Kelly, daughter Brooks Shumway, son Garrett Shumway, brother Douglas Shumway and two grandchildren. 

 

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