The Power Behind Tractor Supply: Who's the CEO?
Tractor Supply Company is one of the largest retail chains in the United States that specializes in farming tools, equipment, and supply. The company, founded in 1938, has over 1,900 stores across 49 U.S. states. Although Tractor Supply's mission is to serve the needs of farmers, ranchers, and rural customers, they have increasingly diversified their customer base in recent years. The company's CEO is Hal Lawton.
Hal Lawton's Profile
Before joining Tractor Supply Company, Hal Lawton was the Senior Vice President of North America for eBay. He was responsible for managing eBay's marketplaces in the U.S. and Canada, which totaled $29 billion in annual revenue. Prior to his tenure at eBay, Lawton spent ten years at Home Depot, the world's largest home improvement retailer.
Lawton graduated with an MBA from Harvard Business School and a Bachelor of Science from the United States Naval Academy.
Hal Lawton's Vision for Tractor Supply Company
Since joining Tractor Supply in 2020, Lawton has been focused on expanding the company's customer base beyond its traditional rural customer base. In an interview with the Wall Street Journal, Lawton said that one of his main goals for Tractor Supply is to \"double down on our core customer and rural America, but also expand our customer base into suburban markets and even urban markets.\"
In addition, Lawton has emphasized the importance of technology and eCommerce for Tractor Supply's growth. In an interview with CNBC, he said, \"Technology is a major focus, particularly our eCommerce and mobile app. We need to create a great one-to-one experience with our customers.\"
The Impact of Hal Lawton's Leadership
Since Lawton's appointment as CEO, Tractor Supply has been consistently exceeding its financial targets. In the second quarter of 2021, the company reported net sales of $3.6 billion, a 13.4% increase compared to the same period in 2020. This was driven by a 10.5% increase in comparable-store sales.
Tractor Supply's stock has also been performing well under Lawton's leadership. As of August 2021, the company's stock had increased by more than 20% since Lawton's appointment as CEO in January 2020.
Conclusion
Hal Lawton's leadership and vision have been driving Tractor Supply's growth and success. His focus on expanding the company's customer base, leveraging technology, and remaining committed to the company's core rural customer base has been paying off. As Tractor Supply continues to navigate the challenges of a rapidly changing retail landscape, Lawton's leadership will be key to ensuring the company's continued success.