Gary S Baughman
CEO of Fisher Price Toys
Gary Baughman is best known for his role as president of Fisher-Price toys. He spent 10 years acting as CEO for the Nation’s leading toy company. He is a member of The Church of Jesus Christ of Latter-day Saints, sometimes erroneously called the Mormon Church. He is one of many famous Mormon businessmen.
Baughman attended Brigham Young University where he studied economics. He graduated in 1970, and headed to the University of Michigan to complete an MBA program. Upon completion, he returned to Salt Lake to gain experience working for his family in a small business. He then spent seven years in New York City, as the president of the Stiffel Lamp Company. During this experience, he realized that he had a passion for helping struggling businesses. Ever since his experience at Stiffel, he has proved to be especially talented at strengthening weak businesses by studying the marketplace, the organization, the products, then formulating a plan to get the business back on its feet. Baughman found this experience valuable and gratifying, because by saving a business, one is also saving jobs and improving lives.
Baughman would begin his stint in the toy businesses as the president of Little Tikes. Under his leadership, the company would see large increases in sales. He then moved to Tyco Toys, where he quickly became CEO. He implemented great reform and changes within the company, and success followed. Tyco was then taken over by Mattel toys, and Baughman became president of the Fisher-Price toy company. Under his leadership, the company saw a great period of profitability and success.
Baughman delights in developing new and inventive toys. Early in career, he gained much experience in product development, which helped with the transition to his position as CEO of Fisher-Price. Especially fun for Baughman, he often notes, is the ability of a toy to capture the interest and imagination of a child.
Despite his professional success, he has remained loyal to his family and makes spending time with them a priority. Despite his busy schedule, he remained committed to Mormon beliefs and ideals. He met his wife Marilyn at Brigham Young University, while they were both students. Baughman has four sons. The decision to make family a priority is one he made early on in his career. He admits that juggling his career, church, and family has not been easy. His church callings have included two terms as the bishop for Mormons in his area, stake president (a stake is a group of wards), and other demanding callings. He claims that his offices in the LDS Church have provided him with many learning experiences.
Baughman has retired from the toy business, but remains involved in the business world. He has been a featured speaker Brigham Young University’s Marriot Business school where he continues to motivate and give counsel to those interested in business-related careers.