Richard B. Cohen

Richard B. "Rick" Cohen (born 1952) is an American billionaire and the owner of C&S Wholesale Grocers (C&S), a wholesale grocery supply company in the United States. He is also the chairman and chief product officer of Symbotic, an artificial intelligence-enabled robotics company.[2]

For other people with the same name, see Richard Cohen (disambiguation).
Richard B. Cohen
Born1952 (age 70–71)
NationalityAmerican
EducationUniversity of Pennsylvania (BS)
Known forOwner of C&S Wholesale Grocers
TitleChairman and Chief Product Officer of Symbotic[1]
SpouseJan Cohen
Children3
ParentLester H. Cohen (father)

Early life and education

Richard Cohen was born in Worcester, Massachusetts in 1952 to Norma and Lester Cohen.[3][4] In 1970, he graduated from the Deerfield Academy in Deerfield, Massachusetts and then in 1974, he graduated from the Wharton School of the University of Pennsylvania with a degree economics, concentrating in accounting.

Career

In 1974, Cohen began working at the family company, C&S Wholesalers in Worcester, Massachusetts, which was co-founded by his grandfather, Israel Cohen, in 1918. After a three-week union strike that nearly shuttered the business, he persuaded his father to move the company to Brattleboro, Vermont.[5]

In 1989, Cohen took control of C&S after his father retired and in 2003, he moved the company headquarters to Keene, New Hampshire.[5] As the food distribution business is very low margin and customer retention is critical,[5] C&S has been able to attain efficiencies - less than 2 percent of the orders processed have errors or omissions - by using performance incentives combined with self-managed teams of workers who are responsible for assembling customer orders thereby eliminating costly supervisors.[5]

Cohen is also the founder of Symbotic,a robotics warehouse automation company.[6] As of 2021 Symbotic’s artificial intelligence-enabled platform was used by C&S, Walmart, Target, Albertsons, and other large retailers.[2][7]

In December 2021, Symbotic announced plans to go public through a merger with a SPAC sponsored by SoftBank in order to accelerate its push into warehouse automation.[8]

Philanthropy

In 2001, The Center for Holocaust and Genocide Studies at Keene State College was renamed after the Cohens in thanks of their financial support.[3]

Personal life

Cohen is married to Jan Cohen, executive producer of the Kaddish Project, a musical oratorio on genocide; the couple have three children.[5]

References
  1. "Rick Cohen, Chairman and Chief Product Officer". Symbotic.
  2. "Meet The Billionaire Robot Overlord Reinventing Walmart's Warehouses". Forbes. December 13, 2021.
  3. "History and Mission". Keene State College. February 23, 2022.
  4. The Tablet Magazine: "The Jewish Billionaire No One's Heard Of" by Adam Chandler, August 5, 2013.
  5. Bloomberg: "Hidden Billionaire Cohen Hauls Fortune in Unmarked Trucks" by Brendan Coffey & Zohair Siraj, August 5, 2013; accessed May 3, 2014.
  6. "Walmart Backed Supply Chain Company Symbotic Gets SPAC Deal: What Investors Should Know". Business Insider. December 13, 2021.
  7. Robbie Whelan (20 September 2016). "Fully Autonomous Robots: The Warehouse Workers of the Near Future". The Wall Street Journal.
  8. "SoftBank SPAC to take Walmart-backed Symbotic public in $5.5 bln deal". Reuters. December 13, 2021.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.