Frank B. Rackley*
Class of 1955
- President Jessup Steel Company
Through hard work and zeal, I went from office boy to president of a major corporation in less than 15 years-that's America.
Frank Rackley was the son a steel worker and spent his lifetime associated with the steel industry. Rackley's first job was that of an office boy at Carnegie-Illinois Steel Co., where he earned $13 a week. Soon he was promoted to the job of sales clerk in Milwaukee. While there, he earned $185 a month, and sent $100 of it home to help his family.
Before he was 30, Rackley was transferred to Chicago and made western sales manager in the company's stainless steel division. He later became sales manager of the failing, debt-ridden Jessop Steel Co. Under his aggressive direction, sales began to soar.
In 1950, Rackley became Jessop's president. At the age of 33, he was the youngest steel company president in the country. He served as president until 1964 and as chief executive officer until 1970.