Robert B. Evans
Encyclopedia
Robert Beverley Evans, Sr. (March 19, 1906 – August 17, 1998) was an automobile industry executive, a prominent Republican
, an industrialist
, a socialite
, and an avid sportsperson. He founded Evans Industries and also became chairman of American Motors Corporation
(AMC).
, and graduated from the Virginia Episcopal School
, The University of Lauzon, and the University of Michigan
.
As an entrepreneur, Evans became an owner a many companies with combined annual sales of US$20 million by the 1960s, but entrusted most business affairs to underlings. Instead, Evans focused his efforts on hobbies as golf, quail hunting, and designing and racing a hydroplane. He built a jet-powered hydroplane in 1960 with the goal to capture the world's water speed record that was held by Donald Campbell
. He was determined to succeed even when his boat, "Miss Stars and Stripes II", crashed during a speed attempt.
Evans described himself in a New York Times interview as a relaxed Detroit millionaire who has spent 35 years specializing in the reconstruction of "sick companies."
Over a few weeks during January 1966, Evans bought 200,000 shares of AMC common stock
(worth US$
3 million at that time; thus about $20 to 30 million in 2006) and became the firm's largest shareholder. On March 7, 1966, Evans got himself elected to AMC's board of directors and "immediately criticized the company's auto line as being too conservative." As sales of automobiles were weak industry-wide during 1966 and AMC was facing major losses, Evans was elected elected board chairman by AMC's directors on June 6, 1966. He replaced Richard E. Cross
, who continued as a director and chairman of the executive committee.
As the newly appointed board chairman of AMC, Evans immediately promised "a different philosophy and approach" in the automaker's affairs. Evans is credited with turning the company around from the strategy of matching the Big Three American automaker
s nearly model for model that was promoted by Roy Abernethy
. American Motors' struggled during 1966, "the biggest auto boom in history" and was counting on the redesigned 1967 models; however, Evans admitted one month before their introduction that "we are still very much in a questionable period."
It was Evans who brought on the major changes by handpicking Roy D. Chapin Jr. as AMC's general manager. Evans was always encouraging the styling and engineering staffs do things differently - to try new ideas and find new ways to design and build cars. He is also credited as the champion for AMC to build a production version of the AMX
, a two-seat sports model, from the concept car
that was part of the Project IV showings. This was at a time when the automaker experienced falling earnings and had to skip the dividend payment to its shareholders for the fourth consecutive quarter. Evans saw opportunities for sporty AMC cars in the rapidly growing more youthful consumer market segments, as well as to shed its "economy-car image."
On January 9, 1967, a contentious AMC board of directors meeting resulted in the firing or "early retirement" of Abernethy, as well as with the "resignation" of Evans as Chairman of the Board. The two were replaced by William V. Luneburg as President and Roy D. Chapin Jr. as the new Chairman of the Board. Evans continued as a board member.
During May 1970, Evans sold half of his holdings in AMC (100,000 shares). Evans sold 44,000 of his AMC shares in 1971 while continuing to serve as a director and member of the finance committee.
In 1971, Evans purchased the Muskegon Bank and Trust Company in Muskegon, Michigan
from the so-called "Parsons Group".
He died at his residence in Grosse Pointe Shores, Michigan
. He was survived by his two children, Jane Evans Jones and Robert B. Evans, Jr.
Republican Party (United States)
The Republican Party is one of the two major contemporary political parties in the United States, along with the Democratic Party. Founded by anti-slavery expansion activists in 1854, it is often called the GOP . The party's platform generally reflects American conservatism in the U.S...
, an industrialist
Business magnate
A business magnate, sometimes referred to as a capitalist, czar, mogul, tycoon, baron, oligarch, or industrialist, is an informal term used to refer to an entrepreneur who has reached prominence and derived a notable amount of wealth from a particular industry .-Etymology:The word magnate itself...
, a socialite
Socialite
A socialite is a person who participates in social activities and spends a significant amount of time entertaining and being entertained at fashionable upper-class events....
, and an avid sportsperson. He founded Evans Industries and also became chairman of American Motors Corporation
American Motors
American Motors Corporation was an American automobile company formed by the 1954 merger of Nash-Kelvinator Corporation and Hudson Motor Car Company. At the time, it was the largest corporate merger in U.S. history.George W...
(AMC).
Career
Evans was born in Richmond, VirginiaRichmond, Virginia
Richmond is the capital of the Commonwealth of Virginia, in the United States. It is an independent city and not part of any county. Richmond is the center of the Richmond Metropolitan Statistical Area and the Greater Richmond area...
, and graduated from the Virginia Episcopal School
Virginia Episcopal School
Virginia Episcopal School is a college preparatory school located in Lynchburg, Virginia, USA. It was founded in 1916 by Bishop Robert Carter Jett. By design, VES is a coeducational community of approximately 200 students and 40 residential faculty...
, The University of Lauzon, and the University of Michigan
University of Michigan
The University of Michigan is a public research university located in Ann Arbor, Michigan in the United States. It is the state's oldest university and the flagship campus of the University of Michigan...
.
As an entrepreneur, Evans became an owner a many companies with combined annual sales of US$20 million by the 1960s, but entrusted most business affairs to underlings. Instead, Evans focused his efforts on hobbies as golf, quail hunting, and designing and racing a hydroplane. He built a jet-powered hydroplane in 1960 with the goal to capture the world's water speed record that was held by Donald Campbell
Donald Campbell
Donald Malcolm Campbell, CBE was a British speed record breaker who broke eight world speed records in the 1950s and 1960s...
. He was determined to succeed even when his boat, "Miss Stars and Stripes II", crashed during a speed attempt.
Evans described himself in a New York Times interview as a relaxed Detroit millionaire who has spent 35 years specializing in the reconstruction of "sick companies."
Over a few weeks during January 1966, Evans bought 200,000 shares of AMC common stock
Stock
The capital stock of a business entity represents the original capital paid into or invested in the business by its founders. It serves as a security for the creditors of a business since it cannot be withdrawn to the detriment of the creditors...
(worth US$
United States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....
3 million at that time; thus about $20 to 30 million in 2006) and became the firm's largest shareholder. On March 7, 1966, Evans got himself elected to AMC's board of directors and "immediately criticized the company's auto line as being too conservative." As sales of automobiles were weak industry-wide during 1966 and AMC was facing major losses, Evans was elected elected board chairman by AMC's directors on June 6, 1966. He replaced Richard E. Cross
Richard E. Cross
Richard Eugene Cross was an American business executive in the automotive industry and a lawyer.- Career at AMC :Richard E. Cross was a "quiet, analytical attorney" who served as legal counsel for American Motors Corporation . He drew up the 1954 merger papers that created the new company from...
, who continued as a director and chairman of the executive committee.
As the newly appointed board chairman of AMC, Evans immediately promised "a different philosophy and approach" in the automaker's affairs. Evans is credited with turning the company around from the strategy of matching the Big Three American automaker
Automotive industry
The automotive industry designs, develops, manufactures, markets, and sells motor vehicles, and is one of the world's most important economic sectors by revenue....
s nearly model for model that was promoted by Roy Abernethy
Roy Abernethy
Roy Abernethy was an executive in the American automobile industry, serving as CEO of American Motors Corporation from February 1962 to January 1967. Prior to his tenure at AMC, Abernethy had been with Packard Motors and Willys-Overland. Abernethy replaced George W...
. American Motors' struggled during 1966, "the biggest auto boom in history" and was counting on the redesigned 1967 models; however, Evans admitted one month before their introduction that "we are still very much in a questionable period."
It was Evans who brought on the major changes by handpicking Roy D. Chapin Jr. as AMC's general manager. Evans was always encouraging the styling and engineering staffs do things differently - to try new ideas and find new ways to design and build cars. He is also credited as the champion for AMC to build a production version of the AMX
AMC AMX
The AMC AMX is a two-seat GT in style and approach sports car that was produced by American Motors Corporation for the 1968 through 1970 model years. The AMX was also classified as a muscle car, but "unique among other American cars at the time due its short wheelbase"...
, a two-seat sports model, from the concept car
Concept car
A concept vehicle or show vehicle is a car made to showcase new styling and or new technology. They are often shown at motor shows to gauge customer reaction to new and radical designs which may or may not have a chance of being produced....
that was part of the Project IV showings. This was at a time when the automaker experienced falling earnings and had to skip the dividend payment to its shareholders for the fourth consecutive quarter. Evans saw opportunities for sporty AMC cars in the rapidly growing more youthful consumer market segments, as well as to shed its "economy-car image."
On January 9, 1967, a contentious AMC board of directors meeting resulted in the firing or "early retirement" of Abernethy, as well as with the "resignation" of Evans as Chairman of the Board. The two were replaced by William V. Luneburg as President and Roy D. Chapin Jr. as the new Chairman of the Board. Evans continued as a board member.
During May 1970, Evans sold half of his holdings in AMC (100,000 shares). Evans sold 44,000 of his AMC shares in 1971 while continuing to serve as a director and member of the finance committee.
In 1971, Evans purchased the Muskegon Bank and Trust Company in Muskegon, Michigan
Muskegon, Michigan
Muskegon is a city in the U.S. state of Michigan. As of the 2010 census, the city population was 38,401. The city is the county seat of Muskegon County...
from the so-called "Parsons Group".
He died at his residence in Grosse Pointe Shores, Michigan
Grosse Pointe Shores, Michigan
Grosse Pointe Shores is a city in the U.S. state of Michigan. With only land area, the city is the smallest of the five Grosse Pointe communities. The city, which is entirely residential, is the location of the Grosse Pointe Yacht Club on Lake Saint Clair. The city's population was 3,008 at the...
. He was survived by his two children, Jane Evans Jones and Robert B. Evans, Jr.