Joe J. Plumeri
Encyclopedia
Joseph J. "Joe" Plumeri II (born July 7, 1944, in Trenton, New Jersey
) is the Chairman and CEO
of Willis Group Holdings
(Willis), a New York Stock Exchange
-listed insurance broker
. The company has 17,000 employees in 400 offices, which are located in 120 countries. As of June 2010, Willis had the third-highest insurance brokerage revenue
s in the world.
For the first 32 years of his career, Plumeri was an executive with Citigroup and its predecessors. During that time he was variously President & Managing Partner of Shearson Lehman Brothers, President of Smith Barney
, Vice Chairman of Travelers, Chairman & CEO of Primerica, and CEO of Citibank, North America. He was appointed Chairman & CEO of Willis in 2000.
Plumeri is also the owner of the New York Yankees' Double-A minor league team affiliate, the Trenton Thunder
. The team plays in Samuel J. Plumeri, Sr., Field, named after his father. In addition, he funded the construction of Plumeri Park
, the stadium of the William & Mary Tribe
baseball team. A philanthropist, he has made multi-million dollar gifts to The College of William & Mary and the Make-a-Wish Foundation
.
Plumeri attended Trenton Catholic Academy
and Bordentown Military Institute
(1962). He then studied at The College of William & Mary, graduating in 1966 with a B.A. in History and Education. While an undergraduate, he played on the William & Mary Tribe
football team (on scholarship as a halfback
for Lou Holtz
) and baseball team (as a second baseman and outfielder).
Upon graduation, he first taught History for two years at Langhorne
's Neshaminy High School
in Bucks County, in rural Pennsylvania. There, he also coached football and two other sports.
In 1968, he was in the Army Reserve
for six months at Fort Jackson, South Carolina
. After he was released, he enrolled in New York Law School
in 1968.
area. Entering 55 Broad Street
, he looked at the lobby directory and noticed the name Carter, Berlind & Weill. Assuming (incorrectly) that if a firm had three names or more than it must be a law firm, he spoke to the receptionist who forwarded him to see a member of the very small firm. The man took the time to listen patiently to Plumeri's story. When Plumeri finished his speech, as to how he wanted to study at law school in the morning, but learn about the practical side of the law by working part-time in the afternoon (since his last classes ended at noon), the man said it was a great idea. But asked: "What makes you think you'll learn the law here?" Plumeri replied, "Well, this is a law firm." The man corrected an embarrassed Plumeri, saying that actually it was a small brokerage house.
The man was Sandy Weill. Weill ultimately grew his 40-person company into Citigroup, with 200,000 employees, and became its CEO. Weill hired the 24-year-old Plumeri as a part-time clerk and gofer, took the door off a closet and had him sit there, and mentored him. The two ended up working together for many years, with Plumeri as one of Weill's top lieutenants. Plumeri said: "Sandy has been my role model. He's the shrewdest, smartest businessman I've ever seen, and he's also the sweetest."
Soon after starting to work at the brokerage firm, Plumeri dropped out of law school. At Carter, Berlind & Weill, he rose through the retail ranks with a reputation as a hard-working, market-savvy manager. The small brokerage ultimately became Shearson
, and Weill sold it to American Express
in 1981 for stock valued at $930 million ($ today). By 1985, Plumeri was a Senior Executive Vice President and director of national sales and marketing.
Plumeri became the President & Managing Partner of Shearson Lehman Brothers in 1990.
.
Weill then offered Plumeri the presidency of Smith Barney. "That was the most satisfying moment of my life," recalled Plumeri. "I cried—as usual—and I remember that Sandy shed a tear, too." That year Plumeri became the President of the merged company (the predecessor of Citigroup's Salomon Smith Barney unit), and managed the merger.
Plumeri only lasted a year as President, as his gung-ho style failed to impress Smith Barney executives. In August 1994, Weill abruptly removed him. Plumeri said he was dismissed because he was uncooperative with fellow Smith Barney executives. He noted: "I was so intent on getting the job done, that I eliminated the input of other people. If I'd done better at nurturing relationships, who knows how it would have turned out?"
Weill made Plumeri a Vice Chairman of Travelers Group Inc. almost immediately thereafter.
division (Primerica), a position he held from 1995 to 1999. He gave 10 to 20 evangelistic-styled speeches a week around the country rallying his 153,000 salespeople, urging his audiences to reply loudly and repeatedly to his exhortations. He made a five-hour speech at one meeting, pausing only to change his sweat-soaked shirt. He also hosted his own monthly TV talk show, which was beamed from Primerica headquarters to thousands of agents nationwide.
In 1997, Plumeri earned at least $3 million ($ today) in compensation. In 1998, Primerica had net income of $398 million (on net sales of $1.65 billion), nearly double its 1994 $209 million net income (on net sales of $1.28 billion). Speaking of his approach in business, Plumeri said:
Following the integration, he was appointed CEO of Citibank, North America by Citigroup co-Chairmen Weill and John Reed
. He oversaw its network of 450 retail
branches. J. Paul Newsome, an analyst with CIBC Oppenheimer, said: "He's not the spit-and-polish executive many people expected. He's rough on the edges. But Citibank knows the bank as an institution is in trouble—it can't get away anymore with passive selling—and Plumeri has all the passion to throw a glass of cold water on the bank."
It was conjectured that he might become a leading contender to run all of Citigroup when Weill and Reed stepped down, if he were to effect a big, noticeable victory at Citibank. As CEO of Citibank N.A., Plumeri boosted the unit's earnings from $108 million to $415 million in one year, an increase of nearly 400%.
He retired from Citibank unexpectedly, however, in January 2000.
, he ran into Henry Kravis
whose leveraged buyout
firm, Kohlberg Kravis Roberts (KKR), had purchased the Willis Group in 1998 for $1.4 billion. When Kravis asked what he was doing, Plumeri's wife jokingly said: "Find him a job". Kravis called him two weeks later, and suggested that Plumeri run Willis.
Initially, Plumeri had no interest in the position. He said: "I really didn't want the job. I didn't know anything about insurance. I certainly didn't know anything about London. And I didn't know if my act would fly in London, to be honest with you." But the more he examined it the more appealing it became, and Weill advised him that he should definitely take the position.
Plumeri assumed the post of Chairman & Chief Executive Officer at Willis on October 15, 2000. He replaced John Reeve
, who retired, and became the company's first non-British CEO and first non-insurance industry CEO.
The staid, nearly 200-year-old, tradition-laden British-based company (established in 1828) was being run like a British gentlemen's club
. It had suffered through hard times, having just incurred a loss in 1999 of $104 million ($ today). Visiting Lloyd's of London
(the world's biggest insurance marketplace) for the first time, rather than finding a modern sophisticated operation with high-speed technology, he saw: "men with big folders walking back and forth, and then waiting in line in a box to place insurance.... Pigeons are faster". Referring to Willis's majestic London headquarters, with monolithic
colonnade
s, sculpted marble angels, and sweeping staircases, Plumeri said: "There are statues and paintings of dead people all over the place. And what good are they?"
"This is exactly the kind of leadership opportunity I've been looking for to focus the next stage of my career," Plumeri decided. His five-year contract provided for an annual base salary of $1 million, guaranteed bonuses of $1 million annually, further incentive bonuses, and stock options for 5.2 million Willis shares at approximately $2.80 per share. Plumeri pledged to his employees that as long as he was CEO, he would not sell a single share of his Willis stock. He said: "Maybe I'd give it to charity, but selling the stock for my own benefit, I think is wrong. I'm supposed to be the chief cheerleader of the company, not only to investors but to my employees, and to exhort them to buy my stock, while I'm selling it, is wrong."
He began his Willis career without much background in insurance brokering. Plumeri admitted, "I don't know what I don't know, so I've asked a lot of questions," but noted that "When you are in virgin territory without any baggage, sometimes that is better because you don't have a sense of what you can't do."
reported that once when Plumeri had a breakfast meeting with two of his executives at a New York hotel, he noticed that one was not wearing his Willis lapel pin. The paper described it as "probably a sacking offence". Thinking quickly, the executive responded: "I'm sorry, sir. I must have left it on my pyjamas."
To encourage communication and cooperation, he ordered that all office doors remain open (or had them removed—including the door to his own office; a contrast to the prior chairman, who had his own floor and his own elevator). He cut down the walls of office cubicles to half-size. He himself flew about 400000 miles (643,736 km) a year to meet with people, to help build the company. He also recruited 1,000 new brokers and acquired smaller brokerage firms, especially in markets felt to be critical to long-term success. The CEO of the company's global markets division, Grahame J. Millwater, said: "The sheer dynamism of the individual took us a little bit by surprise. We had a very different management style before."
Plumeri believed that he had to share a vision of a common goal in order to motivate his employees to work together towards something in the future, and to feel excitement and energy. He observed:
Avoiding cutting the staff he inherited, he instead moved some to what he viewed as better-suited roles.
At Willis, he has been an outspoken supporter of banning contingent commissions, and a vocal advocate of financial transparency. He supported regulations to ban contingent commissions, launched a public awareness campaign against them, and made Willis the first company to publicly disavow the practice.
Within several months of his arrival, he announced that he intended to bring the company public. In June 2001, he brought the company back to public ownership in an IPO, and had it listed on the New York Stock Exchange. At the time, its stock price was $13.50. Within two years, by May 2, 2003, it was $31.27, an increase of 132%. On February 27, 2004, it was at $38.35.
For 2002, the company's net income was $210 million. In 2003, it rose to $414 million.
Through February 2007, he had grown the company at an annual rate of 12% per year. In 2008, Plumeri headed Willis' $2.1 billion acquisition of U.S. rival Hilb, Rogal & Hobbs Co.
(HRH). By August 2008, Willis was worth $4.5 billion. In his first eight years at Willis, the company's net worth doubled, its margins rose from 7% to 32%, and its stock price rose from $3-per-share to $32-per-share.
In 2008, he directed the sale of Willis's landmark London headquarters at 10 Trinity Square, and relocated in May to a modern Willis Building at 51 Lime Street
, the fourth-tallest in the City of London
. Locals referred to the new headquarters as "Plumeri's Palace". The building incorporates Plumeri's "no-doors" policy; a policy which applies to his own office.
In 2009, he struck a deal that led to the 110-story Sears Tower in Chicago, the tallest building in North America, being re-named the Willis Tower, as the company rented 140000 square feet (13,006.4 m²) of its office space. He and Mayor Richard Daley
unveiled a sign with the new name in a ceremony in July. Plumeri said: "You can call it anything you want... you can call it the 'Big Willie' for all I care. As a matter of fact, I wish you would."
Plumeri received compensation of $8.1 million in 2007, $19.9 million in 2008, and $10.9 million in 2009 (consisting of a salary of $1 million, bonus of $1.7 million, restricted stock
awards of $7.3 million, and other compensation of $.9 million). Willis extended his contract in January 2010 until July 7, 2013. As of March 2010, Plumeri owned 3.8 million shares of the company, representing 2.3%.
By 2010, Willis had 17,000 employees in 400 offices located in 120 countries.
Speaking of his philosophy of life, Plumeri said: "I’m from the school of anything’s possible. I’m from the group that says it doesn’t matter where you are from, but that it does matter how big you dream."
(from 2000), Commerce Bancorp
(from 2003), the Council on Foreign Relations
, and the American Institute for Chartered Property Casualty Underwriters.
Plumeri owns the Trenton Thunder
, a Double-A minor league team affiliated with the New York Yankees
(since 2003; following an eight-year affiliation with the Boston Red Sox). The team plays at Samuel J. Plumeri, Sr. Field, the 6,341-seat stadium which he named after his father in 1999.
He is also co-owner since 2001 of another New Jersey minor league baseball team, the Lakewood BlueClaws
, the Single-A affiliate of the Philadelphia Phillies
. It is located in Ocean County, on the Jersey Shore
.
He also invested £100,000 towards a minority interest in the Plymouth Argyle Football Club in the United Kingdom, giving him an indirect ownership interest in the club of less than 1%. He was introduced to the team by its chairman Sir Roy Gardner, who is also on the Willis board.
Plumeri was Commissioner of the New Jersey Sports and Exposition Authority
from 1997 to 2004.
with his son Jay. His son runs the day-to-day operations. In 2010 his son opened a restaurant named "Race Lane" in East Hampton, New York
, at the site of what was formerly known as the Laundry and briefly as the Lodge.
" is the 1,000-seat baseball facility of the William & Mary Tribe baseball team since 1999, constructed in large part on the basis of a donation by Plumeri in the autumn of 1996. He had it named in honor of his father.
In 2008, he committed $2 million to establish the Plumeri Awards for Faculty Excellence at William & Mary. He also funded the Joseph J. Plumeri Business Scholarship, the Joseph J. Plumeri Endowment Fund for baseball scholarships for the school, and the W&M/Plumeri Pro-Am Golf Tournament.
He funded with a $2 million gift the construction of the "Samuel & Josephine Plumeri Wishing Place", the headquarters of the New Jersey Chapter of the Make-A-Wish Foundation
(named in honor of his parents). It was the largest gift ever to the Foundation, nation-wide.
He also contributed $1 million to the College of St. Rose in Albany, New York, for the development of the school’s new Christian Plumeri Sports Complex. It was named in honor of his deceased son.
Plumeri is a board member of The National Center on Addiction and Substance Abuse (CASA) at Columbia University (since 1998), Mount Sinai Medical Center, the Intrepid Sea-Air-Space Museum
, and American Friends of the Churchill Museum in London. He is a member of William & Mary's governing Board of Visitors, Business School Advisory Board, and Sir Robert Boyle Society, as well as a lifetime member of the President’s Council and a trustee emeritus of the William & Mary Endowment Association.
Plumeri was also the commencement speaker at the College of Saint Rose in 2006, Richard Bland College
of the College of William and Mary in 2008, and the College of William and Mary
in 2011.
, with their children Christian J. (now deceased), Jay, and Leslie. He also has an apartment in London, an apartment in New York City, and a home in Scotch Plains, New Jersey
. In February 2010, it was reported that he had gone into contract to buy a 15th-floor apartment at 995 Fifth Avenue
on New York's Upper East Side
, which had listed for $23.5 million.
Speaking of his son Christian, who died in November 2008 at age 39 from drug addiction, he said: "You deal with it, but it’s so difficult. I think about it all the time; think about it every day. You always think about what you could have done differently."
His brother Paul Plumeri, Sr., is a blues
guitarist. His brother Samuel J. Plumeri, Jr., is Vice Chairman of the New Jersey State Parole Board
and Chairman the Capital Health Board of Directors. He also served as a Trenton police officer, Mercer County (New Jersey)
Sheriff, and for a decade was Superintendent of Police/Director of Public Safety for the Port Authority of New York and New Jersey
. His nephew Paul Plumeri, Jr., is currently attending graduate school at Columbia University.
Trenton, New Jersey
Trenton is the capital of the U.S. state of New Jersey and the county seat of Mercer County. As of the 2010 United States Census, Trenton had a population of 84,913...
) is the Chairman and CEO
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
of Willis Group Holdings
Willis Group Holdings
Willis Group Holdings is a global insurance broker headquartered in the Willis Building, London, United Kingdom. It has more than 400 offices in 120 countries, and approximately 17,000 employees...
(Willis), a New York Stock Exchange
New York Stock Exchange
The New York Stock Exchange is a stock exchange located at 11 Wall Street in Lower Manhattan, New York City, USA. It is by far the world's largest stock exchange by market capitalization of its listed companies at 13.39 trillion as of Dec 2010...
-listed insurance broker
Insurance broker
An insurance broker finds sources for contracts of insurance on behalf of their customers. The three largest insurance brokers in the world, by revenue, are Aon, Marsh & McLennan, and Willis Group Holdings.-Purpose of insurance brokers:...
. The company has 17,000 employees in 400 offices, which are located in 120 countries. As of June 2010, Willis had the third-highest insurance brokerage revenue
Revenue
In business, revenue is income that a company receives from its normal business activities, usually from the sale of goods and services to customers. In many countries, such as the United Kingdom, revenue is referred to as turnover....
s in the world.
For the first 32 years of his career, Plumeri was an executive with Citigroup and its predecessors. During that time he was variously President & Managing Partner of Shearson Lehman Brothers, President of Smith Barney
Smith Barney
Morgan Stanley Smith Barney is a retail brokerage joint venture between Morgan Stanley and Citigroup.On January 13, 2009, Morgan Stanley and Citigroup announced that Citigroup would sell 51% of Smith Barney to Morgan Stanley, creating Morgan Stanley Smith Barney, which was formerly a division of...
, Vice Chairman of Travelers, Chairman & CEO of Primerica, and CEO of Citibank, North America. He was appointed Chairman & CEO of Willis in 2000.
Plumeri is also the owner of the New York Yankees' Double-A minor league team affiliate, the Trenton Thunder
Trenton Thunder
The Trenton Thunder are an American Minor League Baseball team and are the Double-A affiliate of the New York Yankees. The Thunder play in the Eastern Division of the Eastern League, and are the two-time defending league champions...
. The team plays in Samuel J. Plumeri, Sr., Field, named after his father. In addition, he funded the construction of Plumeri Park
Plumeri Park
Plumeri Park is The College of William & Mary Tribe baseball team's home stadium located in Williamsburg, Virginia. It has been in use since 1999. Joseph J...
, the stadium of the William & Mary Tribe
William & Mary Tribe
The William & Mary Tribe are the athletic teams for the College of William & Mary. The name Tribe now refers to the unity and comradery that William & Mary student-athletes share when competing in the classroom and on the field. William & Mary has transitioned through several official nicknames...
baseball team. A philanthropist, he has made multi-million dollar gifts to The College of William & Mary and the Make-a-Wish Foundation
Make-A-Wish Foundation
The Make-A-Wish Foundation is a 501 non-profit organization founded in the United States that grants wishes to children who have life-threatening medical conditions. The charity now operates in forty-seven countries around the world through thirty-six affiliate offices.The president & CEO of this...
.
Early life
Plumeri is the son of Samuel J. Plumeri, Sr. (a Trenton City Commissioner and local businessman, who died in 1988) and Josephine Plumeri. His grandparents immigrated to the United States from Villalba, Sicily. He was raised in a blue collar, ethnically mixed, middle class neighborhood in North Trenton, New Jersey, in a working class family. Speaking of his father, he said: "He never quit, and he always saw the good in everything. He was a dreamer, and because of my father ... I have an affection for people who are passionate."Plumeri attended Trenton Catholic Academy
Trenton Catholic Academy
Trenton Catholic Academy is a regional Catholic elementary and high school in Hamilton Township, Mercer County, New Jersey, serving students in pre-K through 12th grade, under the auspices of the Roman Catholic Diocese of Trenton....
and Bordentown Military Institute
Bordentown Military Institute
The Bordentown Military Institute was a private high school in Bordentown, New Jersey from 1881 to 1973.-History:It was created in 1881 when Reverend William Bowen purchased the Spring Villa Female Seminary building and reopened it as the Bordentown Military Institute. In 1972 it was merged with...
(1962). He then studied at The College of William & Mary, graduating in 1966 with a B.A. in History and Education. While an undergraduate, he played on the William & Mary Tribe
William & Mary Tribe
The William & Mary Tribe are the athletic teams for the College of William & Mary. The name Tribe now refers to the unity and comradery that William & Mary student-athletes share when competing in the classroom and on the field. William & Mary has transitioned through several official nicknames...
football team (on scholarship as a halfback
Halfback (American football)
A halfback, sometimes referred to as a tailback, is an offensive position in American football, which lines up in the backfield and generally is responsible for carrying the ball on run plays. Historically, from the 1870s through the 1950s, the halfback position was both an offensive and defensive...
for Lou Holtz
Lou Holtz
Louis Leo "Lou" Holtz is a retired American football coach, and active sportscaster, author, and motivational speaker in the United States...
) and baseball team (as a second baseman and outfielder).
Upon graduation, he first taught History for two years at Langhorne
Langhorne, Pennsylvania
Langhorne is a borough in Bucks County, Pennsylvania, United States. The population was 1,622 at the 2010 census.The name "Langhorne" is used broadly to describe the majority of surrounding Middletown Township, which for the most part uses Langhorne's zip code of 19047...
's Neshaminy High School
Neshaminy High School
Neshaminy High School is a large public high school in Langhorne, Pennsylvania, located on Old Lincoln Highway.-Facilities:Neshaminy High School consists of one main hallway, with hallways branching off of the main by department, arranging classes of similar types in the same region of the...
in Bucks County, in rural Pennsylvania. There, he also coached football and two other sports.
In 1968, he was in the Army Reserve
United States Army Reserve
The United States Army Reserve is the federal reserve force of the United States Army. Together, the Army Reserve and the Army National Guard constitute the reserve components of the United States Army....
for six months at Fort Jackson, South Carolina
Fort Jackson, South Carolina
Fort Jackson is a United States Army installation, which TRADOC operates on for Basic Combat Training , and is located in Columbia, South Carolina. This installation is named for Andrew Jackson, a United States Army General and 7th President of the United States.-Overview:Fort Jackson was created...
. After he was released, he enrolled in New York Law School
New York Law School
New York Law School is a private law school in the TriBeCa neighborhood of Lower Manhattan in New York City. New York Law School is one of the oldest independent law schools in the United States. The school is located within four blocks of all major courts in Manhattan. In 2011, New York Law School...
in 1968.
Business career
Plumeri spent 32 years as an executive with Citigroup Inc. and its predecessors, before becoming Chairman & CEO of Willis in 2000.Carter, Berlind & Weill/Shearson Lehman Brothers (1968–93)
While in law school, one afternoon in 1968 he decided to look for part-time employment, and began knocking on doors in the Wall StreetWall Street
Wall Street refers to the financial district of New York City, named after and centered on the eight-block-long street running from Broadway to South Street on the East River in Lower Manhattan. Over time, the term has become a metonym for the financial markets of the United States as a whole, or...
area. Entering 55 Broad Street
Broad Street (Manhattan)
Broad Street is located in the Financial District in the New York City borough of Manhattan, stretching from South Street to Wall Street.- History :...
, he looked at the lobby directory and noticed the name Carter, Berlind & Weill. Assuming (incorrectly) that if a firm had three names or more than it must be a law firm, he spoke to the receptionist who forwarded him to see a member of the very small firm. The man took the time to listen patiently to Plumeri's story. When Plumeri finished his speech, as to how he wanted to study at law school in the morning, but learn about the practical side of the law by working part-time in the afternoon (since his last classes ended at noon), the man said it was a great idea. But asked: "What makes you think you'll learn the law here?" Plumeri replied, "Well, this is a law firm." The man corrected an embarrassed Plumeri, saying that actually it was a small brokerage house.
The man was Sandy Weill. Weill ultimately grew his 40-person company into Citigroup, with 200,000 employees, and became its CEO. Weill hired the 24-year-old Plumeri as a part-time clerk and gofer, took the door off a closet and had him sit there, and mentored him. The two ended up working together for many years, with Plumeri as one of Weill's top lieutenants. Plumeri said: "Sandy has been my role model. He's the shrewdest, smartest businessman I've ever seen, and he's also the sweetest."
Soon after starting to work at the brokerage firm, Plumeri dropped out of law school. At Carter, Berlind & Weill, he rose through the retail ranks with a reputation as a hard-working, market-savvy manager. The small brokerage ultimately became Shearson
Shearson
Shearson was the name of a series of investment banking and retail brokerage firms from 1902 until 1994, named for Edward Shearson and the firm he founded, Shearson Hammill & Co...
, and Weill sold it to American Express
American Express
American Express Company or AmEx, is an American multinational financial services corporation headquartered in Three World Financial Center, Manhattan, New York City, New York, United States. Founded in 1850, it is one of the 30 components of the Dow Jones Industrial Average. The company is best...
in 1981 for stock valued at $930 million ($ today). By 1985, Plumeri was a Senior Executive Vice President and director of national sales and marketing.
Plumeri became the President & Managing Partner of Shearson Lehman Brothers in 1990.
Smith Barney (1993–94)
In 1993, Weill bought Shearson back from American Express. He paid $1 billion ($ today), and merged it into its fellow stockbroker Smith BarneySmith Barney
Morgan Stanley Smith Barney is a retail brokerage joint venture between Morgan Stanley and Citigroup.On January 13, 2009, Morgan Stanley and Citigroup announced that Citigroup would sell 51% of Smith Barney to Morgan Stanley, creating Morgan Stanley Smith Barney, which was formerly a division of...
.
Weill then offered Plumeri the presidency of Smith Barney. "That was the most satisfying moment of my life," recalled Plumeri. "I cried—as usual—and I remember that Sandy shed a tear, too." That year Plumeri became the President of the merged company (the predecessor of Citigroup's Salomon Smith Barney unit), and managed the merger.
Plumeri only lasted a year as President, as his gung-ho style failed to impress Smith Barney executives. In August 1994, Weill abruptly removed him. Plumeri said he was dismissed because he was uncooperative with fellow Smith Barney executives. He noted: "I was so intent on getting the job done, that I eliminated the input of other people. If I'd done better at nurturing relationships, who knows how it would have turned out?"
Weill made Plumeri a Vice Chairman of Travelers Group Inc. almost immediately thereafter.
Primerica Financial Services (1995–99)
Plumeri was then made Chairman & CEO of Travelers Group's Primerica Financial ServicesPrimerica Financial Services
Primerica, Inc. is a referral marketer of financial products and services using a hybrid model of direct selling, franchising and distribution....
division (Primerica), a position he held from 1995 to 1999. He gave 10 to 20 evangelistic-styled speeches a week around the country rallying his 153,000 salespeople, urging his audiences to reply loudly and repeatedly to his exhortations. He made a five-hour speech at one meeting, pausing only to change his sweat-soaked shirt. He also hosted his own monthly TV talk show, which was beamed from Primerica headquarters to thousands of agents nationwide.
In 1997, Plumeri earned at least $3 million ($ today) in compensation. In 1998, Primerica had net income of $398 million (on net sales of $1.65 billion), nearly double its 1994 $209 million net income (on net sales of $1.28 billion). Speaking of his approach in business, Plumeri said:
I am an emotional person with a lot of drive, and that has caused some problems in my career. But I come from the view that you've got to be yourself, for better or worse. And what got me where I am today was my emotion.
Citigroup (1999–2000)
Plumeri headed the integration of the consumer businesses of Travelers Group and Citicorp after the $70 billion ($ today) 1999 merger of the two to form Citigroup Inc.Following the integration, he was appointed CEO of Citibank, North America by Citigroup co-Chairmen Weill and John Reed
John S. Reed
John Shepard Reed is the former Chairman of the New York Stock Exchange. He previously served as Chairman and CEO of Citicorp, Citibank, and post-merger, Citigroup. He is currently the Chairman of the Massachusetts Institute of Technology's Office of Corporation. He was born in Chicago, Illinois,...
. He oversaw its network of 450 retail
Retail banking
Retail banking is banking in which banking institutions execute transactions directly with consumers, rather than corporations or other banks. Services offered include: savings and transactional accounts, mortgages, personal loans, debit cards, credit cards, and so forth.-Types of...
branches. J. Paul Newsome, an analyst with CIBC Oppenheimer, said: "He's not the spit-and-polish executive many people expected. He's rough on the edges. But Citibank knows the bank as an institution is in trouble—it can't get away anymore with passive selling—and Plumeri has all the passion to throw a glass of cold water on the bank."
It was conjectured that he might become a leading contender to run all of Citigroup when Weill and Reed stepped down, if he were to effect a big, noticeable victory at Citibank. As CEO of Citibank N.A., Plumeri boosted the unit's earnings from $108 million to $415 million in one year, an increase of nearly 400%.
He retired from Citibank unexpectedly, however, in January 2000.
The early years
In Paris on vacation, window-shopping with his wife on Rue Saint-HonoréRue Saint-Honoré
The rue Saint-Honoré is an ancient street in the 1st arrondissement of Paris, France.It is named after the collegial Saint-Honoré church situated in ancient times within the cloisters of Saint-Honoré....
, he ran into Henry Kravis
Henry Kravis
Henry R. Kravis is an American businessman and private equity investor. He is the co-founder of Kohlberg Kravis Roberts & Co., a private equity firm with over $62 billion in assets as of 2011. He has an estimated net worth of $3.7 billion as of September 2011, ranked by Forbes as the 88th richest...
whose leveraged buyout
Leveraged buyout
A leveraged buyout occurs when an investor, typically financial sponsor, acquires a controlling interest in a company's equity and where a significant percentage of the purchase price is financed through leverage...
firm, Kohlberg Kravis Roberts (KKR), had purchased the Willis Group in 1998 for $1.4 billion. When Kravis asked what he was doing, Plumeri's wife jokingly said: "Find him a job". Kravis called him two weeks later, and suggested that Plumeri run Willis.
Initially, Plumeri had no interest in the position. He said: "I really didn't want the job. I didn't know anything about insurance. I certainly didn't know anything about London. And I didn't know if my act would fly in London, to be honest with you." But the more he examined it the more appealing it became, and Weill advised him that he should definitely take the position.
Plumeri assumed the post of Chairman & Chief Executive Officer at Willis on October 15, 2000. He replaced John Reeve
John Reeve (businessman)
John Reeve is a former Executive Chairman and chief executive officer of Willis Group Holdings.-Business career:Reeve worked for The British Aluminum Company plc., and then was a Group Finance Director of Mercantile House Holdings plc...
, who retired, and became the company's first non-British CEO and first non-insurance industry CEO.
The staid, nearly 200-year-old, tradition-laden British-based company (established in 1828) was being run like a British gentlemen's club
Gentlemen's club
A gentlemen's club is a members-only private club of a type originally set up by and for British upper class men in the eighteenth century, and popularised by English upper-middle class men and women in the late nineteenth century. Today, some are more open about the gender and social status of...
. It had suffered through hard times, having just incurred a loss in 1999 of $104 million ($ today). Visiting Lloyd's of London
Lloyd's of London
Lloyd's, also known as Lloyd's of London, is a British insurance and reinsurance market. It serves as a partially mutualised marketplace where multiple financial backers, underwriters, or members, whether individuals or corporations, come together to pool and spread risk...
(the world's biggest insurance marketplace) for the first time, rather than finding a modern sophisticated operation with high-speed technology, he saw: "men with big folders walking back and forth, and then waiting in line in a box to place insurance.... Pigeons are faster". Referring to Willis's majestic London headquarters, with monolithic
Monolithic column
A monolithic column is a column of which the shaft is made from one single piece of stone instead of different sections.They are sometimes called 'single-piece columns' and were most likely used on ancient temples....
colonnade
Colonnade
In classical architecture, a colonnade denotes a long sequence of columns joined by their entablature, often free-standing, or part of a building....
s, sculpted marble angels, and sweeping staircases, Plumeri said: "There are statues and paintings of dead people all over the place. And what good are they?"
"This is exactly the kind of leadership opportunity I've been looking for to focus the next stage of my career," Plumeri decided. His five-year contract provided for an annual base salary of $1 million, guaranteed bonuses of $1 million annually, further incentive bonuses, and stock options for 5.2 million Willis shares at approximately $2.80 per share. Plumeri pledged to his employees that as long as he was CEO, he would not sell a single share of his Willis stock. He said: "Maybe I'd give it to charity, but selling the stock for my own benefit, I think is wrong. I'm supposed to be the chief cheerleader of the company, not only to investors but to my employees, and to exhort them to buy my stock, while I'm selling it, is wrong."
He began his Willis career without much background in insurance brokering. Plumeri admitted, "I don't know what I don't know, so I've asked a lot of questions," but noted that "When you are in virgin territory without any baggage, sometimes that is better because you don't have a sense of what you can't do."
Changes
Plumeri did a number of things when he arrived at Willis to change the company's staid culture. To encourage a common identity and unification of purpose among the company's 13,000 employees spread over 100 countries, he had everyone wear Willis lapel pins, reportedly buying more than 33,000 of them, to emphasize that the company was a team. The Sunday TimesThe Sunday Times
The Sunday Times is a British Sunday newspaper.The Sunday Times may also refer to:*The Sunday Times *The Sunday Times *The Sunday Times *The Sunday Times...
reported that once when Plumeri had a breakfast meeting with two of his executives at a New York hotel, he noticed that one was not wearing his Willis lapel pin. The paper described it as "probably a sacking offence". Thinking quickly, the executive responded: "I'm sorry, sir. I must have left it on my pyjamas."
To encourage communication and cooperation, he ordered that all office doors remain open (or had them removed—including the door to his own office; a contrast to the prior chairman, who had his own floor and his own elevator). He cut down the walls of office cubicles to half-size. He himself flew about 400000 miles (643,736 km) a year to meet with people, to help build the company. He also recruited 1,000 new brokers and acquired smaller brokerage firms, especially in markets felt to be critical to long-term success. The CEO of the company's global markets division, Grahame J. Millwater, said: "The sheer dynamism of the individual took us a little bit by surprise. We had a very different management style before."
Plumeri believed that he had to share a vision of a common goal in order to motivate his employees to work together towards something in the future, and to feel excitement and energy. He observed:
Many companies do not articulate to their employees why they are there. You’ve got to figure out what the home run is. What we are doing here is creating a company whose value grows, and that value is measured by the price of our stock. That’s the scoreboard.... Once people understand and buy into the vision, it’s amazing what one can do.... If you don’t give people a vision, they don’t enjoy the trip because they don’t know where they are going.
Avoiding cutting the staff he inherited, he instead moved some to what he viewed as better-suited roles.
At Willis, he has been an outspoken supporter of banning contingent commissions, and a vocal advocate of financial transparency. He supported regulations to ban contingent commissions, launched a public awareness campaign against them, and made Willis the first company to publicly disavow the practice.
Within several months of his arrival, he announced that he intended to bring the company public. In June 2001, he brought the company back to public ownership in an IPO, and had it listed on the New York Stock Exchange. At the time, its stock price was $13.50. Within two years, by May 2, 2003, it was $31.27, an increase of 132%. On February 27, 2004, it was at $38.35.
For 2002, the company's net income was $210 million. In 2003, it rose to $414 million.
Hilb, Rogal & Hobbs Co.
Hilb, Rogal, & Hobbs Co. is a US insurance firm.-History:The firm was established by Bob Hilb, Alvin Rogal and David Hamilton, former Insurance Management Corporation executives in 1982.In July 2007, Hilb Rogal & Hobbs Co...
(HRH). By August 2008, Willis was worth $4.5 billion. In his first eight years at Willis, the company's net worth doubled, its margins rose from 7% to 32%, and its stock price rose from $3-per-share to $32-per-share.
In 2008, he directed the sale of Willis's landmark London headquarters at 10 Trinity Square, and relocated in May to a modern Willis Building at 51 Lime Street
Lime Street, London
Lime Street is a street in the City of London between Fenchurch Street to the south and Leadenhall Street to the north.The northern portion of the street is pedestrianised...
, the fourth-tallest in the City of London
City of London
The City of London is a small area within Greater London, England. It is the historic core of London around which the modern conurbation grew and has held city status since time immemorial. The City’s boundaries have remained almost unchanged since the Middle Ages, and it is now only a tiny part of...
. Locals referred to the new headquarters as "Plumeri's Palace". The building incorporates Plumeri's "no-doors" policy; a policy which applies to his own office.
Richard M. Daley
Richard Michael Daley is a United States politician, member of the national and local Democratic Party, and former Mayor of Chicago, Illinois. He was elected mayor in 1989 and reelected in 1991, 1995, 1999, 2003, and 2007. He was the longest serving Chicago mayor, surpassing the tenure of his...
unveiled a sign with the new name in a ceremony in July. Plumeri said: "You can call it anything you want... you can call it the 'Big Willie' for all I care. As a matter of fact, I wish you would."
Plumeri received compensation of $8.1 million in 2007, $19.9 million in 2008, and $10.9 million in 2009 (consisting of a salary of $1 million, bonus of $1.7 million, restricted stock
Restricted stock
Restricted stock, also known as letter stock or restricted securities, refers to stock of a company that is not fully transferable until certain conditions have been met. Upon satisfaction of those conditions, the stock becomes transferable by the person holding the award.One type of restricted...
awards of $7.3 million, and other compensation of $.9 million). Willis extended his contract in January 2010 until July 7, 2013. As of March 2010, Plumeri owned 3.8 million shares of the company, representing 2.3%.
By 2010, Willis had 17,000 employees in 400 offices located in 120 countries.
Speaking of his philosophy of life, Plumeri said: "I’m from the school of anything’s possible. I’m from the group that says it doesn’t matter where you are from, but that it does matter how big you dream."
Boards
Plumeri's concurrent board responsibilities outside of Willis have included the boards of Telex CommunicationsTelex Communications
Telex Communications, originally Telex Corporation, was a Burnsville, Minnesota-based manufacturer of hearing aids and audio equipment. Founded in 1936 as a maker of hearing aids, it entered the computer peripherals businesses in the 1960s. It became Telex Communications, a subsidiary of Telex Corp...
(from 2000), Commerce Bancorp
Commerce Bancorp
TD Bank, N.A., is a national banking institution in the United States which offers banking, insurance, brokerage, and investment banking services in Connecticut, Delaware, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, South Carolina,...
(from 2003), the Council on Foreign Relations
Council on Foreign Relations
The Council on Foreign Relations is an American nonprofit nonpartisan membership organization, publisher, and think tank specializing in U.S. foreign policy and international affairs...
, and the American Institute for Chartered Property Casualty Underwriters.
Sports interests
Trenton Thunder
The Trenton Thunder are an American Minor League Baseball team and are the Double-A affiliate of the New York Yankees. The Thunder play in the Eastern Division of the Eastern League, and are the two-time defending league champions...
, a Double-A minor league team affiliated with the New York Yankees
New York Yankees
The New York Yankees are a professional baseball team based in the The Bronx, New York. They compete in Major League Baseball in the American League's East Division...
(since 2003; following an eight-year affiliation with the Boston Red Sox). The team plays at Samuel J. Plumeri, Sr. Field, the 6,341-seat stadium which he named after his father in 1999.
He is also co-owner since 2001 of another New Jersey minor league baseball team, the Lakewood BlueClaws
Lakewood BlueClaws
The Lakewood BlueClaws are a minor league baseball team that currently plays in the South Atlantic League, a Class Single-A baseball league. The team plays their home games at FirstEnergy Park located in Lakewood Township, New Jersey...
, the Single-A affiliate of the Philadelphia Phillies
Philadelphia Phillies
The Philadelphia Phillies are a Major League Baseball team. They are the oldest continuous, one-name, one-city franchise in all of professional American sports, dating to 1883. The Phillies are a member of the Eastern Division of Major League Baseball's National League...
. It is located in Ocean County, on the Jersey Shore
Jersey Shore
The Jersey Shore is a term used to refer to both the Atlantic coast of the U.S. state of New Jersey and the adjacent resort and residential communities. . The New Jersey State Department of Tourism considers the Shore Region, Greater Atlantic City, and the Southern Shore to be distinct, each having...
.
He also invested £100,000 towards a minority interest in the Plymouth Argyle Football Club in the United Kingdom, giving him an indirect ownership interest in the club of less than 1%. He was introduced to the team by its chairman Sir Roy Gardner, who is also on the Willis board.
Plumeri was Commissioner of the New Jersey Sports and Exposition Authority
New Jersey Sports and Exposition Authority
The New Jersey Sports and Exposition Authority is an independent authority established by the State of New Jersey in 1971 to oversee the Meadowlands Sports Complex. Originally consisting of Giants Stadium and the Meadowlands Racetrack in 1976, Brendan Byrne Arena was added to the complex in...
from 1997 to 2004.
Restaurant
In December 2001, he opened a family restaurant named "Plumeri" in TriBeCaTriBeCa
Tribeca is a neighborhood in Lower Manhattan, New York in the United States. Its name is an acronym based on the words "Triangle below Canal Street", and is properly bounded by Canal Street, West Street, Broadway, and Vesey Street...
with his son Jay. His son runs the day-to-day operations. In 2010 his son opened a restaurant named "Race Lane" in East Hampton, New York
East Hampton (town), New York
The Town of East Hampton is located in southeastern Suffolk County, New York, at the eastern end of the South Shore of Long Island. It is the easternmost town in the state of New York...
, at the site of what was formerly known as the Laundry and briefly as the Lodge.
Philanthropy
"Plumeri ParkPlumeri Park
Plumeri Park is The College of William & Mary Tribe baseball team's home stadium located in Williamsburg, Virginia. It has been in use since 1999. Joseph J...
" is the 1,000-seat baseball facility of the William & Mary Tribe baseball team since 1999, constructed in large part on the basis of a donation by Plumeri in the autumn of 1996. He had it named in honor of his father.
In 2008, he committed $2 million to establish the Plumeri Awards for Faculty Excellence at William & Mary. He also funded the Joseph J. Plumeri Business Scholarship, the Joseph J. Plumeri Endowment Fund for baseball scholarships for the school, and the W&M/Plumeri Pro-Am Golf Tournament.
He funded with a $2 million gift the construction of the "Samuel & Josephine Plumeri Wishing Place", the headquarters of the New Jersey Chapter of the Make-A-Wish Foundation
Make-A-Wish Foundation
The Make-A-Wish Foundation is a 501 non-profit organization founded in the United States that grants wishes to children who have life-threatening medical conditions. The charity now operates in forty-seven countries around the world through thirty-six affiliate offices.The president & CEO of this...
(named in honor of his parents). It was the largest gift ever to the Foundation, nation-wide.
He also contributed $1 million to the College of St. Rose in Albany, New York, for the development of the school’s new Christian Plumeri Sports Complex. It was named in honor of his deceased son.
Plumeri is a board member of The National Center on Addiction and Substance Abuse (CASA) at Columbia University (since 1998), Mount Sinai Medical Center, the Intrepid Sea-Air-Space Museum
Intrepid Sea-Air-Space Museum
The Intrepid Sea-Air-Space Museum is a military and maritime history museum with a collection of museum ships in New York City. It is located at Pier 86 at 46th Street on the West Side of Manhattan. The museum showcases the World War II aircraft carrier USS Intrepid, the submarine , a Concorde...
, and American Friends of the Churchill Museum in London. He is a member of William & Mary's governing Board of Visitors, Business School Advisory Board, and Sir Robert Boyle Society, as well as a lifetime member of the President’s Council and a trustee emeritus of the William & Mary Endowment Association.
Plumeri was also the commencement speaker at the College of Saint Rose in 2006, Richard Bland College
Richard Bland College
Richard Bland College of The College of William and Mary is a public junior college with about 1,400 students located near Petersburg, Virginia...
of the College of William and Mary in 2008, and the College of William and Mary
College of William and Mary
The College of William & Mary in Virginia is a public research university located in Williamsburg, Virginia, United States...
in 2011.
Awards
- 1991 Italian-American Hall of Fame (inducted)
- 2004 Good Scout Award (Boy Scouts of AmericaBoy Scouts of AmericaThe Boy Scouts of America is one of the largest youth organizations in the United States, with over 4.5 million youth members in its age-related divisions...
) - 2004 Award for Special Achievement in Business (the National Italian American FoundationNational Italian American FoundationThe National Italian American Foundation is a nonprofit, nonpartisan, educational foundation that promotes Italian American culture and heritage...
) - 2006 Insurance Leader of the Year (St. John’s University School of Risk ManagementCollege of InsuranceThe College of Insurance was a specialized accredited college, started by insurance industry leaders in 1901 as an insurance library society, the Insurance Society of New York . The Insurance Society of New York initially provided study space and material to young people entering the insurance...
) - 2006 Humanitarian of the Year (Make-a-Wish FoundationMake-A-Wish FoundationThe Make-A-Wish Foundation is a 501 non-profit organization founded in the United States that grants wishes to children who have life-threatening medical conditions. The charity now operates in forty-seven countries around the world through thirty-six affiliate offices.The president & CEO of this...
of New Jersey) - 2007 Salute Award, in recognition of business achievements and philanthropic activities (the IntrepidIntrepid Sea-Air-Space MuseumThe Intrepid Sea-Air-Space Museum is a military and maritime history museum with a collection of museum ships in New York City. It is located at Pier 86 at 46th Street on the West Side of Manhattan. The museum showcases the World War II aircraft carrier USS Intrepid, the submarine , a Concorde...
Foundation) - 2008 National Education & Leadership Award (The Sons of Italy Foundation)
- 2009 & 2010 Lists of “100 Most Influential People in Finance” (Treasury & Risk magazine)
- 2010 Business Achievement Award (Beta Gamma SigmaBeta Gamma SigmaBeta Gamma Sigma or ΒΓΣ is an honor society for business students and scholars. Founded in 1913 at the University of Wisconsin, it has over 650,000 members, selected from over 500 chapters in AACSB-accredited business schools...
) - 2010 Achievement in Industry Award (The Jackie Robinson Foundation)
- 2011 Honorary Doctor of Public Service from The College of William and Mary
- 2011 Grand Marshall, New York City Columbus Day Parade, Columbus Citizens Foundation
Family
He is married to Nancy (née Walton) Plumeri, a cancer survivor. They lived in Far Hills, New JerseyFar Hills, New Jersey
Far Hills is a borough in Somerset County, New Jersey, United States. As of the United States 2010 Census, the population was 919.Far Hills was incorporated as a borough based on an Act of the New Jersey Legislature passed on April 7, 1921, from portions of Bernards Township, subject to the results...
, with their children Christian J. (now deceased), Jay, and Leslie. He also has an apartment in London, an apartment in New York City, and a home in Scotch Plains, New Jersey
Scotch Plains, New Jersey
Scotch Plains is a township in Union County, New Jersey, United States. As of the 2010 Census, the township population increased to a record high of 23,510.-History:...
. In February 2010, it was reported that he had gone into contract to buy a 15th-floor apartment at 995 Fifth Avenue
Stanhope Hotel
995 Fifth Avenue is a 16-story co-op condominium building at 995 Fifth Avenue and East 81st Street in New York City, across Fifth Avenue from Central Park and the Metropolitan Museum of Art. It was constructed in 1926 as The Stanhope Apartment Hotel and designed by Rosario Candela...
on New York's Upper East Side
Upper East Side
The Upper East Side is a neighborhood in the borough of Manhattan in New York City, between Central Park and the East River. The Upper East Side lies within an area bounded by 59th Street to 96th Street, and the East River to Fifth Avenue-Central Park...
, which had listed for $23.5 million.
Speaking of his son Christian, who died in November 2008 at age 39 from drug addiction, he said: "You deal with it, but it’s so difficult. I think about it all the time; think about it every day. You always think about what you could have done differently."
His brother Paul Plumeri, Sr., is a blues
Blues
Blues is the name given to both a musical form and a music genre that originated in African-American communities of primarily the "Deep South" of the United States at the end of the 19th century from spirituals, work songs, field hollers, shouts and chants, and rhymed simple narrative ballads...
guitarist. His brother Samuel J. Plumeri, Jr., is Vice Chairman of the New Jersey State Parole Board
New Jersey State Parole Board
The New Jersey State Parole Board is a governmental body in the U.S. State of New Jersey that is responsible for assisting offenders to reenter society as law-abiding residents....
and Chairman the Capital Health Board of Directors. He also served as a Trenton police officer, Mercer County (New Jersey)
Mercer County, New Jersey
As of the census of 2000, there were 350,761 people, 125,807 households, and 86,303 families residing in the county. The population density was 1,552 people per square mile . There were 133,280 housing units at an average density of 590 per square mile...
Sheriff, and for a decade was Superintendent of Police/Director of Public Safety for the Port Authority of New York and New Jersey
Port Authority of New York and New Jersey
The Port Authority of New York and New Jersey is a bi-state port district, established in 1921 through an interstate compact, that runs most of the regional transportation infrastructure, including the bridges, tunnels, airports, and seaports, within the Port of New York and New Jersey...
. His nephew Paul Plumeri, Jr., is currently attending graduate school at Columbia University.
External links
- Willis bio
- Business Week bio
- Forbes bio
- International Risk Management Institute bio
- Reuters bio
- "The Boss; An Accidental Start", by Joe Plumeri; written with Joseph B. Treaster, The New York Times, June 23, 2002
- "Joe Plumeri, playing in traffic: with his quest for adventure and 'just go for it' philosophy, the CEO of insurance broker Willis Group Holdings has got the competitive spirit kicking in again at this 175-year-old company", Interview by James Kristie, Directors & Boards, June 4, 2004
- "Joe Plumeri Live", Interview by Mike Schneider on VentureVenture (TV series)Venture is a weekly Canadian business television series that aired on CBC Television from 1985 to 2007. The show focused mostly on business documentaries, but also aired business-related news pieces...
, Bloomberg, February 6, 2009 - "Plumeri’s dreams become big reality in financial circles", L.A. Parker, The Trentonian, May 24, 2009
- "Beyond The Boardroom: Joe Plumeri", Interview by Jonathan TischJonathan TischJonathan M. Tisch has been Chairman and CEO of Loews Hotels since 1989, as well as being Co-Chairman of the Board and Member of the Office of the President of Loews Corporation, its parent company. He is the son of Founder Robert Tisch....
on Plum TVPlum TVPlum TV is a lifestyle television channel launched in 2002 by Nantucket Nectars founder Tom Scott, along with producer Cary Woods and television executive Chris Glowacki. Most recently Tom Scott has become CEO again. So far his performance has been lackluster. of The programming is locally...
, August 24, 2009 - "Corner Office: On Passion and Playing in Traffic", Interview by Adam Bryant, The New York Times, December 5, 2009
- Samuel J. Plumeri Field