Kenneth D. Tuchman

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Kenneth D. Tuchman
Born1959 (age 58–59)
California
ResidenceDenver, Colorado
NationalityUnited States
OccupationBusinessman
Known forfounder of TeleTech
Net worthIncrease $1.54 Billion USD (Jun 2018)[1]
Spouse(s)Debra L. Mautner
Childrentwo

Kenneth D. Tuchman (born 1959) is an American businessman and founder of global outsourcing company TeleTech.[1]

Biography[edit]

Born to an entrepreneurial family,[2] Tuchman worked various jobs as a teenager: in a surf shop and renting lots for car sales which blossomed into a business where he would answer inquiries and then set up appointments.[3] In the 1980s, Tuchman worked for his father's luxury-home construction business in California.[4] Often he would inquire about products advertised in magazines that might be useful in the homes his father constructed. Noting that it usually took several months for a response (and often well after the house had begun construction), the idea of a business that would serve as a centralized base for potential customer inquiries was germinated.[4] In 1982, he founded TeleTech in an old nursery school near Los Angeles[4] allowing businesses to outsource their customer service requirements. His first big customer was Herbalife.[3] In 1984, after the conglomerate AT&T was broken up, TeleTech was hired to monitor AT&T's transactions with customers who were switching carriers[3] which led to business with two of the resulting phone companies, MCI, Inc. and United Telecom (now Sprint Corporation), to sign up new customers.[3]

In 1986, he moved the company to Sherman Oaks, California. In 1992, it had $6 million in revenue[5] which grew to $50 million in 1995[5] and he relocated the company to centrally located Denver.[3] In 1995, Sam Zell purchased a 17% stake in the company[3] and in 1996, TeleTech completed its IPO.[6] In 1999, he left the company after a disagreement with the Board over strategy but returned in 2001 after the company went through difficulties, the result of too much debt and the dot-com crash.[3] The company went through a severe restructuring with numerous layoffs and consolidation of call centers; and re-directed the company from being sole an intake provider into higher margin back office services (such as insurance and claims processing).[3]

TeleTech has continued to expand and as of 2013, it had operations in 14 countries. Nine of these countries provide services for onshore clients (the U.S., Australia, Brazil, Germany, Ghana, Ireland, New Zealand, South Africa and the United Kingdom); the other six countries provide services for offshore clients (Argentina, Canada, Costa Rica, India, Mexico and the Philippines).[3] 24,000 of TeleTech's 48,000 employees are in the Philippines.[3] On January 9, 2018, TeleTech officially changed its name to TTEC.[7]

Philanthropy[edit]

The Tuchmans via their foundation, the Tuchman Family Foundation, are prominent donors to National Jewish Health[8] where his wife Debra serves on the Board of Directors.[9]

Personal life[edit]

He has two children with his wife Debra (née Mautner) Tuchman[9][10][11] who is also Jewish.[12] In 2011, his wife was appointed the director of the National Jewish Center for Learning and Leadership (CLAL). The Tuchmans live in Denver, Colorado.[1]

References[edit]

  1. ^ a b c Forbes: The World's Billionaires - Kenneth Tuchman October 2014
  2. ^ Sanders, Adrienne (November 2, 1998). "On My Mind: Success secrets of the successful". Forbes. I come from a family that has an incredible work ethic. I am a Jewish overachiever. When I was 12, I said to my dad: "When do I get my first allowance?" He said: "When you get a job." So I got a job the following day at a bicycle store, and became their number one salesperson.
  3. ^ a b c d e f g h i j Forbes: "American Telecom Tycoon bets on the Philippines" by Tatiana Serafin October 9, 2009
  4. ^ a b c The Independent: "Profile: Ken Tuchman - The call to greatness - The boss of TeleTech is a near-billionaire and he's done it by answering other people's phones" by Richard Halstead 14 September 1997
  5. ^ a b Denver Business Journal: "TeleTech IPO: A tale of the new economy" by Henry Dubroff July 7, 1996
  6. ^ SEC Form S-1: TeleTech IPO October 10, 1996
  7. ^ [1]
  8. ^ Denver Post: "Davidson: Grand Court Ball raises $2 million for National Jewish Health" by Joanne Davidson March 14, 2013
  9. ^ a b National Jewish Health: "Debra Tuchman - Board Member Since 2003 - Director and Secretary, Tuchman Family Foundation retrieved October 22, 2014
  10. ^ Foundation Center retrieved October 22, 2014
  11. ^ "Henry Mautner". Chicago Tribune. January 11, 2017.
  12. ^ "Denver's Debra Tuchman is national chair of CLAL". Intermountain Jewish News. Apr 22, 2011. Debra brings incredible sensitivity to the ways Judaism must speak to the real needs of people if we are to revitalize Jewish life. She has great faith that Jewish wisdom can compete in the American marketplace of ideas, and her leadership is optimistic and transformative.

External links[edit]