Hall of Fame 2015
Stephen H. Marbut
Steve Marbut received a BS in Electrical Engineering from NC State University in 1974. Starting with an interview through the NC State placement office, Marbut began his career with General Electric Company. He progressed through various assignments in technical sales and marketing, product management, purchasing and logistics to President of Hitachi GE lighting in Toyko. He was responsible for multiple new product introductions, achieved over thirty five million dollars in purchasing cost reductions, restructured logistics operations in both the US and Europe and expanded the Hitachi GE lighting business fivefold in revenue.
Moving to President and CEO of Lummus Corporation, Marbut addressed a needed turnaround delivering earnings consistently in the range of 15% of revenue. He tripled sales, grew global share to over 50% and implemented “design for manufacturability” and lean “demand flow” initiatives that drove manufacturing cycle times down from months to days. Greenfield operations were established in China and India and three major acquisitions completed. Lummus has introduced more than twenty five new products during his tenure and has nine active patents. Marbut’s volunteer work includes Chairman of the Board and Trustee for Hilton Head Island Preparatory School, President and Board member of Hilton Head Baseball Association, past member of Georgia Southern University Business School advisory board and past member of the Savannah Chamber of Commerce.