Peter Karmanos Jr. Wiki
Peter Karmanos Jr. (born March 11, 1943) is the minority owner and chief executive officer of the Carolina Hurricanes and Florida Everblades hockey franchises. He served as their principal owner from 1994 (when the Hurricanes were the Hartford Whalers) to 2018. He owned the Plymouth Whalers junior hockey club from its establishment in 1990 until 2015.
Peter Karmanos Jr. Biography
Soon after leaving college he founded software company Compuware with two partners, Thomas Thewes and Allen Cutting. Karmanos served as Compuware’s CEO until June 20, 2011, when he became executive chairman.
Karmanos retired from Compuware on March 31, 2013, but maintained a consultant role within the company. Compuware terminated his post-retirement consulting agreement, effective October 1, 2013. He has since opened a new computer firm, Mad Dog Technology.
Peter Karmanos Jr. Age
Peter Karmanos Jr. is the minority owner and chief executive officer of the Carolina Hurricanes and Florida Everblades hockey franchises. He was born on March 11, 1943, in Detroit, MI.
Peter Karmanos Jr. Family
Karmanos Jr. was born in Detroit. The oldest of three Children of a Greek immigrant family who owned a small restaurant in Detroit, Karmanos attended Henry Ford High School and graduated from Wayne State University in 1973.
Peter Karmanos Jr. Wife
Karmanos donated money to the Michigan Cancer Foundation, which was renamed the Barbara Ann Karmanos Cancer Institute in 1995 in memory of his first wife, Barbara Ann Karmanos, who died of breast cancer in 1989. In addition to three children with Barbara, Karmanos has four others with current wife Danialle Karmanos, and nine grandchildren.
Peter Karmanos Jr. Children
Peter Karmanos Jr. is the minority owner and chief executive officer of the Carolina Hurricanes and Florida Everblades hockey franchises. has the following children named: Jason Karmanos Son, Nick Karmanos Son, Spiros Karmanos Son, Aristides Karmanos Son, Socrates Karmanos Son, Peter Karmanos III Son, and Leonidas Karmanos Son
Grandchildren: Ella Karmanos, Lila Karmanos, Anna Karmanos, Kayla Karmanos
Peter Karmanos Jr. Height
Information will be updated soon.
Peter Karmanos Jr. Salary
Peter earns an estimated salary of around $10k to $50k per year.
Peter Karmanos Jr. Net Worth
The estimated Net Worth of Peter Karmanos is at least $5.88 Million dollars as of 7 November 2017. Mr. Karmanos owns over 20,000 units of Worthington Industries stock worth over $2,711,950 and over the last 3 years, he sold WOR stock worth over $2,953,260. In addition, he makes $210,296 as Independent Director at Worthington Industries.
Mr. Karmanos WOR stock SEC Form 4 insider trading
Peter has made over 2 trades of the Worthington Industries stock since 2017, according to Form 4 filed with the SEC. Most recently he sold 20,000 units of WOR stock worth $876,400 on 7 November 2017.
The largest trade he’s ever made was selling 45,376 units of Worthington Industries stock on 31 October 2017 worth over $2,076,860. On average, Peter trades about 5,943 units every 1 day since 2016. As of 7 November 2017 he still owns at least 65,840 units of Worthington Industries stock.
You can see the complete history of Mr. Karmanos stock trades at the bottom of the page.
Peter Karmanos sued by his adult sons for $105M
Metro Detroit businessman Peter Karmanos Jr. is being sued by his three adult sons for $105 million, accusing him of failing to repay money used for his hockey team and other purposes to a family stock partnership that was set up to benefit the sons from his first marriage.
They contend that their father stopped making payments nearly three years ago on a $101-million promissory note to the stock partnership. Although the lawsuit says that the missed payments equal $4.3 million, the lawsuit claims that the entire principal and interest — $105.6 million — is now due because of the default.
The lawsuit was filed last week by the stock partnership against Karmanos, 73, in Oakland County Circuit Court. The three sons in the partnership are Peter Karmanos III, Nick Karmanos, and Jason Karmanos, who are from Karmanos’ first marriage to Barbara Ann Karmanos. She died of cancer in 1989 and became the namesake for the renowned Michigan-based cancer institute.
Peter Karmanos Jr. is the co-founder of Detroit-based Compuware, once the largest computer technology company in the state. He maintains a 34% ownership stake in the stock partnership, which he set up for the sons in 1996 with Compuware stock to transfer assets “in a tax-advantageous manner,” according to the lawsuit. The lawsuit doesn’t specify how much money or stock is left in the partnership, but it says the value once exceeded $100 million.
Kevin O’Shea, attorney for Peter Karmanos Jr., said there would be no comment for this article. The attorney representing the three adult sons and the stock partnership did not return messages.
Karmanos remarried after his first wife died, and he later divorced his second wife. Today, he has four young sons with his third wife, Danialle Karmanos. Read also Thomas Dundon
His eldest son with Barbara, Peter Karmanos III, a cotrustee in the stock partnership, cautioned his father in a letter this spring that he and his two brothers were frustrated by the nonpayments and ready to sue him for the note’s full amount unless he made a $4.3-million payment by May 24. The partnership filed its lawsuit two days after the missed deadline.
“I’ve tried and tried to work out the issues with you regarding repayment of the monies that you owe to the Peter Karmanos Jr. Stock Limited Partnership. So has Nick and so has Jason,” wrote Peter Karmanos III, a former chief information officer at Compuware. “We’d like nothing more than to have worked this out with you. I won’t rehash everything here, but it just hasn’t happened.”
The lawsuit says Karmanos has previously pledged the family stock partnership as collateral to help support the NHL hockey team that he owns, the Carolina Hurricanes. His son Jason Karmanos held the job of assistant general manager for the Hurricanes until 2013 when the team fired him. “This is a family matter,” the elder Karmanos said in a statement at the time of the firing.
A member of the Hockey Hall of Fame, Karmanos last year sold the Plymouth Whalers junior ice hockey team as well as the former Compuware Arena.
He was awarded $16.5 million last year by an arbitration judge from Compuware for stock options that the company abruptly canceled following Karmanos’ obscenity-laced criticisms of the firm’s board members and its management at the time. The company is still appealing the award.
Karmanos retired from Compuware in spring 2013. He currently is involved in several tech start-ups based in Birmingham, including an all-online mortgage lending platform called Lenderful.
Karmanos had executed two previous promissory notes to the family stock partnership, one for $180 million in 1999 and another for $69.7 million in 2009.
The current promissory note was executed in June 2013 for $101.3 million, to be paid in installments with 2.1% interest until June 2022 or a year after Karmanos’ death, if it occurs before then. The lawsuit says Karmanos failed to make a single payment.
Contact JC Reindl: 313-222-6631 or firstname.lastname@example.org. Follow him on Twitter @JCReindl.
The adult Karmanos sons:
- Are from Peter Karmanos Jr.’s marriage to the late Barbara Ann Karmanos
- Peter Karmanos III was once the chief information officer at Compuware, according to his LinkedIn profile.
- Nick Karmanos is an executive at the Barbara Ann Karmanos Cancer Institute.
- Jason Karmanos was an assistant general manager for the NHL’s Carolina Hurricanes. He later became a vice president for the Pittsburgh Penguins.
What is the salary of Peter Karmanos?
As the Independent Director of Worthington Industries, the total compensation of Peter Karmanos at Worthington Industries is $210,296. There are 7 executives at Worthington Industries getting paid more, with John McConnell having the highest compensation of $4,428,240.
What’s Peter Karmanos’s mailing address?
Peter’s mailing address filed with the SEC is 233 PIERCE, BIRMINGHAM, MI, 48009.
Insider trading at Worthington Industries
Over the last 3 years, insiders at Worthington Industries have traded over $10,641,868 worth of Worthington Industries stock and bought 28,000 units worth $ 1,036,090. The most active insider traders include John P/Oh Mcconnell, Mark A Russell, and B Andrew Rose.
On average, Worthington Industries executives and independent directors trade stock every 26 days with the average trade being worth of $1,135,196. The most recent stock trade was executed by Mark C Davis on 25 April 2019, trading 20,875 units of WOR stock currently worth $391,406.
What does Worthington Industries do?
Worthington Industries, Inc., a metals manufacturing company, focuses on value-added steel processing and manufactured metal products in the United States, Austria, Canada, Mexico, Poland, Portugal, and Turkey. The company operates through three segments: Steel Processing, Pressure Cylinders, and Engineered Cabs.
The Steel Processing segment processes flat-rolled steel for customers primarily in the automotive, aerospace, agricultural, appliance, construction, container, hardware, HVAC, lawn and garden, leisure and recreation, and office furniture and equipment markets.
It also toll processes steel for steel mills, large end-users, service centers, and other processors; and designs and manufactures reusable custom steel platforms, racks, and pallets for supporting, protecting, and handling products in the shipping process.
The Pressure Cylinders segment manufactures and sells filled and unfilled pressure cylinders, tanks, hand torches, oil and gas equipment, and various accessories and related products for a range of end-use market applications, including industrial products, consumer products, alternative fuels, oil and gas equipment, and cryogenics.
The Engineered Cabs segment designs and manufactures custom-engineered open and enclosed cabs, as well as operator stations and custom fabrications for heavy mobile equipment used in agricultural, construction, forestry, military, and mining industries; and machined structural components, complex and painted weldments, and engine doors.
Worthington Industries, Inc. was founded in 1955 and is headquartered in Columbus, Ohio.
Peter Karmanos Jr. Hockey ventures
Karmanos co-founded the Detroit Compuware Hockey organization in the late 1970s with Thewes. The organization includes all levels of hockey from recreational to AAA and Junior A. The Ontario Hockey League awarded an expansion franchise on December 11, 1989, to be known as the Detroit Compuware Ambassadors.
The team later became the Detroit Junior Red Wings, Detroit Whalers and then Plymouth Whalers following a relocation to nearby Plymouth. In 2015, Karmanos sold the Whalers to the owners of Flint’s Perani Arena and Event Center, and the franchise was renamed Flint Firebirds. He also sold the Plymouth arena to USA Hockey.
Karmanos, his Compuware partner Thewes and former player Jim Rutherford purchased the Hartford Whalers in 1994, for $47.5 million. At the time, they had committed to keeping the team in Hartford for at least four years. Connecticut’s then-governor Lowell P. Weicker announced that Karmanos would be critical for the team to stay in Hartford.
Weicker later became a member of the Compuware Board of Directors. Karmanos was unable to sell 11,000 season tickets in Hartford during the 1995–1996 NHL season and announced the team would leave Hartford before a new city had been found if the Whalers were unable to sell 11,000 season tickets for the 1996–1997 season.
Even though they surpassed 11,000 season tickets in 1996-97, the team was moved to Raleigh, North Carolina and renamed the Carolina Hurricanes following the 1996–1997 season. As a result, Karmanos is still reviled by many people in Connecticut.
The Hurricanes went on to win the Stanley Cup in 2006, with Karmanos eagerly donning his skates, hoisting the Cup, and skating around with it briefly after the game-7 win.
For his day with the Cup, he brought it to Compuware HQ in Detroit and allowed employees to get their photo taken individually with the Cup.
Karmanos’ Gale Force Holdings has a subsidiary dedicated to the NHL, Hurricanes Holdings, LLC, which includes the Hurricanes and their stadium, PNC Arena. The holdings also include the Hurricanes’ ECHL affiliate Florida Everblades, along with stadium Germain Arena in Estero, Florida.
Karmanos received the Lester Patrick Trophy for outstanding service to hockey after the 1997–98 season, the Bill Long Award in 2010 for services to the Ontario Hockey League, and was inducted to the United States Hockey Hall of Fame in 2013. He was inducted to the Hockey Hall of Fame in the Builder Category in 2015.
Karmanos also sponsors youth hockey programs in Michigan. Under his backing, Karmanos youth hockey teams have accumulated numerous state, national and international tournaments.
On January 11, 2018, it was announced that he had sold controlling interest in the Hurricanes to Thomas Dundon while retaining a minority interest.
Barbara Ann Karmanos Peter Karmanos jr
The Barbara Ann Karmanos Cancer Institute is named in memory of the Detroit native who married Peter Karmanos Jr., her high school sweetheart, raised three sons, and helped launch a major international business.
Barbara Ann met Peter at Henry Ford High School; they married in January 1965. Devoted to her family and an outstanding athlete, Barbara Ann pitched in when Peter co-founded Compuware, the international computer systems firm, in 1973.
“Barbara Ann was a prototype for women of the ’90s,” says Peter. “She was a bright, energetic person.” As a child she contracted polio and scarlet fever, recovering from both. In January 1981 she was diagnosed with breast cancer.
When her cancer returned, Peter searched for ways to support her — even suggesting to sell the business so they could spend more time together. But she would hear none of it.
“She never gave an inch to her diagnosis,” Peter says. “She never complained and never felt sorry for her situation. She felt the way to defeat cancer was to continue her life as she lived it before becoming sick.”
“We couldn’t have coped if it wasn’t for my mother’s courage,” says Nick Karmanos. “In the face of her personal turmoil, she provided comfort and normalcy for her family.”
Barbara Ann was 46 when she died on January 10, 1989.
On July 20, 1995, Peter Karmanos generously gave a large donation to the cancer research, patient care and education partnership formed a year earlier by Michigan Cancer Foundation, the Meyer L. Prentis Comprehensive Cancer Center of Metropolitan Detroit, The Detroit Medical Center and Wayne State University.
He rebuffed any plans to rename the organization. After consideration, he agreed — but only if named for Barbara Ann.
Today, the Barbara Ann Karmanos Cancer Institute is one of the largest cancer centers in the United States. It is the only major cancer center named for a woman.
Her photo — the only one the Institute ever uses — has special meaning to the Karmanos family. It was taken during their last vacation together.
To those who never knew her, the smiling, youthful face belies any fear or sadness. Instead, it embodies her life, spirit, and hope which, in every way, symbolizes the essence of the organization that now bears her name.
“Barbara Ann would be very pleased about the gift,” says Peter. “She strongly believed in the work done by the people here. She would have been somewhat shy about the naming but, privately, she would have been very pleased.”
Peter Karmanos Jr. House