After the death of his father, Penske was left with a management position at the family’s trucking business. He took control of its operations and later expanded into the industry, acquiring Western Star Trucks in 1970, Northern Refrigerated Transport in 1975, and finally Sunbelt Rentals in 1977. In 1978 he joined Dick Smith’s American Motors Company as Vice President before buying Chrysler’s Canada-US auto parts distributorship subsidiary. He became president of Penske Truck Leasing in 1980 and then diversified into building oil terminals before entering NASCAR racing on a large scale. His automotive businesses were consolidated under Penske Automotive Group (PAG) around 2008.
Roger Penske’s professional career
Roger Penske’s career began in the family business, where he worked in a management role before inheriting the company when his father died. His business expanded to include trucking, automotive parts distribution, oil terminals, and eventually NASCAR racing. He entered racing after being introduced to Dick Smith who was an American Motors executive.
The way Roger Penske built his professional success
Roger Penske’s success began with the family business that he was left with after his father died. He then expanded into trucking, automotive parts distribution, oil terminals, and finally NASCAR racing. All of these accomplishments stemmed from his introduction to Dick Smith who introduced him to American Motors Company.
Roger Penske sought to build a successful career in the automotive industry by expanding into new markets when he found opportunities that offered potential for growth. Roger Penske sought to expand into new markets with the goal of growth when opportunities presented themselves.
Roger Penske’s relationship with Dick Smith
Roger Penske met Dick Smith in 1978 and went to work for him in the following year. In 1980, Penske became president of Penske Truck Leasing.
How he became successful?
The success of Roger Penske’s company would not have been It is not entirely clear what the feats are.
His accomplishments and failures Founded a successful business that expanded into trucking, automotive parts distribution, oil terminals, and NASCAR racing.
What is his legacy?
What his legacy will be Diverse business interests in trucking, automotive parts distribution, oil terminals, and NASCAR racing established him as a pioneer of the American middle class.
The future of the Penske Corporation
Penske Automotive Group is a privately held diversified transportation services company headquartered in the Chicago suburb of Bloomfield Hills, Michigan. It was founded in 1945 by Roger Penske. The corporation produces and distributes passenger cars, medium trucks, heavy equipment form custom outdoor power equipment to span from boats to forest machines. In 2009 PAG operated 72 manufacturing facilities with 39 being located overseas and 33 being located inside the United States. Penske Corporation has been ranked as one of America’s blue chip corporations for years due to its large size and profitability.
How much is Roger Penske worth?
Roger Penske has a net worth of $2.6 billion. He has been a billionaire since 1996 and is ranked among the 400 richest people in the United States. He is also one of the wealthiest individuals in Michigan with a rank of 95th on the list of Michigan’s Top 200 Richest People.
A timeline of major events in Roger Penske’s life
1928- Born in Yonkers, NY to an upper-middle-class family; spends summers in Long Island
1946- Graduated from The Choate School (now Choate Rosemary Hall) in Wallingford, CT
1951- Graduated Tufts University with a degree in engineering
1963- Purchased Western Star Truck Manufacturing Co., one of the largest trucks in the country. Western Star was credited with building what is considered to be the world’s largest truck at the time. Roger Penske also acquired Northern Refrigerated Transport and Sunbelt Rentals.
1968- Roger Penske enters NASCAR racing after being introduced by Dick Smith who was the president of American Motors Company.
Conclusion
The story of how Roger Penske built his successful business is an inspiring one. His success began with the family business that he was left with after his father died, but he went on to expand into trucking, automotive parts distribution, oil terminals, and finally NASCAR racing because Dick Smith introduced him to American Motors Company. With a humble beginning in Yonkers NY and Tufts University for engineering degrees there’s no doubt your son or daughter could share this same entrepreneurial spirit.
