DEFINITION of 'John G. Drosdick'

John "Jack" G. Drosdick is a former chairman, CEO and president of petroleum company, Sunoco. Drosdick led Sunoco to acquire nearly 300 gas stations and purchase a chemical company and a refinery; the company also shut down several of its facilities during his tenure. Drosdick became Sunoco's chairman, CEO and president in 2000 and he retired at the end of 2008 and was replaced by Lynn Laverty Elsenhans.

BREAKING DOWN 'John G. Drosdick'

Born in 1943 in Pennsylvania, Drosdick earned his undergraduate degree in chemical engineering from Villanova University in Villanova, Pennsylvania, then completed his master's degree in chemical engineering at the University of Massachusetts in 1968. He began his career as an engineer with Exxon that same year. In 1983 he joined Tosco Corp. as its vice president of refining, eventually becoming CEO and president in 1989. He then worked as president and COO at Ultramar from 1992 to 1996, and Sun Company and Sunoco (formerly Sun).

Past directorships include Lincoln National Corporation and GE Betz. He also served on the Board of Trustees at Villanova University from 2001 to 2008 and was part of the steering committee for the school's last capital campaign, "Transforming Minds and Hearts."

John G. Drosdick Gives Back to Villanova

In 2014, John G. Drosdick committed to donating $2.5 million to Villanova, where his journey in engineering began. His portion of the $600 million campaign will be used to pay for a new lab in the Center for Engineering Education and Research. The lab will house a fully functioning crane in a two-story space, increasing students' hands-on learning opportunities.

When he committed, Drosdick said, “The Engineering education I received at Villanova had a tremendous effect on my life and professional career. With this gift, I wanted to add to the impressive education that students are receiving at Villanova’s College of Engineering. It is my hope that the hands-on work students do in this lab will greatly influence their future careers and impact as engineers.” 

John Drosdick currently resides in Bryn Mawr, Pennsylvania. He serves as Director for United States Steel, Triumph Group and Hawk Acquisition Intermediate Corporation, formerly known as H.J. Heinz Company. He also is on the Board of Trustees for the Philadelphia Museum of Art and the Kimmel Center for the Performing Arts.

RELATED TERMS
  1. Financial Engineering

    Financial engineering is the use of mathematical techniques to ...
  2. Phil Condit

    A former CEO and chairman of Boeing. Condit is best known for ...
  3. Morris Chang

    The founder, chairman and CEO of Taiwan Semiconductor Manufacturing ...
  4. David F. D'Alessandro

    A former CEO, chairman and president of John Hancock Financial ...
  5. Michael Bloomberg

    Michael Bloomberg is one of the wealthiest persons in the world ...
  6. E. Linn Draper Jr.

    A former chairman, CEO and president of Ohio-based public utility ...
Related Articles
  1. Investing

    Margin of Error (SUN)

    Lower margins and higher expansion costs should keep Sunoco shares in check.
  2. Personal Finance

    The Highest-Paying Engineering Careers

    Learn more about some of the highest-paying jobs in field of engineering. With just a bachelor's degree, most engineers in these jobs make well over $100,000.
  3. Personal Finance

    4 Of Today’s Finance Undergraduates Share Their Experiences And Advice

    In this article, we'll take a look at what four real-life finance students are studying this fall, what jobs and internships they've held, what challenges they've encountered, and what they consider ...
  4. Investing

    The Top 4 General Electric Shareholders (GE)

    Here are the top shareholders of General Electric.
  5. Insights

    Who Is Driving Exxon Mobil's Management Team? (XOM)

    Three key members of the Exxon Mobil management team drive the most important business and corporate governance issues at the company.
  6. Managing Wealth

    Top 10 Highest-Paying Jobs For 2011

    These jobs have high salaries and great outlooks in the coming years.
  7. Insights

    Who Is Driving Apple's Management Team? (APPL)

    Three key members of the Apple management team and board of directors make important business and corporate governance decisions at the company.
  8. Personal Finance

    Student Debt Passes $1 Trillion: Is College Worth the Investment?

    As tuition rises faster than any other U.S. commodity in the past few decades, students explore alternative education options supported by new technology.
  9. Insights

    The Presidential Resume

    When making your way to the White House, there are some definite resume must-haves.
  10. Investing

    The 5 Highest Paid Executives in the Utilities Sector (D, POM)

    Learn who the top five executives are in the utilities sector and find out who is the highest paid executive of them all and their respective companies.
RELATED FAQS
  1. Warren Buffett's history in school

    Warren Buffett attended multiple prestigious schools on his path to success, but he places much more significance on real-world ... Read Answer >>
Hot Definitions
  1. Fibonacci Retracement

    A term used in technical analysis that refers to areas of support (price stops going lower) or resistance (price stops going ...
  2. Ethereum

    Ethereum is a decentralized software platform that enables SmartContracts and Distributed Applications (ĐApps) to be built ...
  3. Cryptocurrency

    A digital or virtual currency that uses cryptography for security. A cryptocurrency is difficult to counterfeit because of ...
  4. Financial Industry Regulatory Authority - FINRA

    A regulatory body created after the merger of the National Association of Securities Dealers and the New York Stock Exchange's ...
  5. Initial Public Offering - IPO

    The first sale of stock by a private company to the public. IPOs are often issued by companies seeking the capital to expand ...
  6. Cost of Goods Sold - COGS

    Cost of goods sold (COGS) is the direct costs attributable to the production of the goods sold in a company.
Trading Center