Follett Corporation is a Westchester, Illinois-based company that provides a variety of educational products to schools, colleges, and public libraries through its subsidiaries.
History
Follett Corporation was founded in 1873 when Charles M. Barnes opened a used book store in his Wheaton, Illinois, home. Three years later, Barnes moved his business, now named C. M. Barnes & Company, to Chicago where he opened a store at 23 LaSalle Street. Here, he sold new and used textbooks, stationery and school supplies.
Charles Wolcott Follett (1883–1952) joined the company in 1901 as a stock clerk. The following year, Charles Barnes retired and his son, William, became president. The company had now evolved into a wholesaler, selling used books throughout the Midwest and as far away as the Oklahoma Territory.
In 1908, the company was reorganized as C. M. Barnes–Wilcox Company when John Wilcox, William Barnes' father-in-law, became the company's primary shareholder. Four years later, in 1912, C. W. Follett became vice president and a shareholder of the company. In 1917, William Barnes sold his remaining interest in the company to John Wilcox. Later that year, Barnes moved to New York where he partnered with G. Clifford Noble and founded Barnes & Noble.
The following year, with Wilcox nearing retirement, C. W. Follett took over management of the company and it was once again renamed, this time as J. W. Wilcox & Follett Company.
John Wilcox died in 1923 and the following year, C. W. Follett and his wife, Edythe, purchased the company. During the next two years, C. W. Follett's three oldest sons—Robert Duncan (Bob), Garth and Dwight—joined the family business. C. W.'s youngest son, Laddie, who was still in grade school, joined the company in 1930.
In 1925, Dwight founded the Follett Publishing Company. In 1930, R. D. Follett founded the Follett College Book Company and began wholesaling used textbooks to professors and college bookstores. The following year, R. D. established the company's first retail bookstore on a college campus outside of Chicago, and in 1940, Garth Follett created Follett Library Book Company.
1950–2000
Laddie Follett ran the company's original business – Wilcox & Follett – from 1952 until 1986. When C. W. Follett died in 1952 at the age of 70, Dwight Follett succeeded his father as chairman. The company continued to grow and was renamed Follett Corporation in 1957, which it is still known by today.
In the mid-1970s, Dwight began to prepare for his retirement and Dick Litzsinger, R. D. Follett's son-in-law, was elected president and chief executive officer. In 1979, Dwight retired and Robert J. R. Follett was named chairman. Follett Publishing sold its trade publications in 1979 to New Century Publishing; the remainder of Follett Publishing was sold to Esquire Inc.
In 1994, Robert J. R. Follett retired and Dick Traut, R. D.'s son-in-law, was elected chairman. The following year, Loyola University Chicago named Follett Illinois Family Business of the Year.
Dick Litzsinger retired as president and chief executive officer in 1997, and Ken Hull was elected president. Ken was the first non-family member to be elected president of the corporation. In 1997, Follett also restructured its board of directors, adding three non-family members. That same year, it joined Internet Systems in forming Library Systems & Services, a joint venture that provides library management services to public, academic and corporate libraries across the country. In addition, Follett purchased Book Wholesalers (BWI) – a distributor of children's books to public libraries. In 1998, to strengthen the company's ability to meet the needs of its customers, Follett aligned its various business units under three market groups – Higher Education, Elementary and High Schools and Libraries.
Dick Traut retired as chairman in 1999, and Ken Hull became chairman and chief executive officer of the corporation. In addition, in 1999, Follett launched the www.efollett.com web site.
2000–present
In 2000, Christopher Traut was elected president and chief executive officer of Follett Corporation. Ken Hull remained as chairman of Follett Corporation. In addition, Follett's three core market groups were combined to form Follett Higher Education Group and Follett Library and School Group. In April 2001, Ken Hull retired and Mark Litzsinger was elected chairman of Follett Corporation.