Trek Bicycle Corporation and Milwaukee, Wisc. are mourning the loss of Richard “Dick” Burke, the companys co-founder and chairman, who died in a Milwaukee hospital last Monday of complications from cardiac surgery. He was 73.
Born in Chicago in 1934, Burke attended Marquette University in Milwaukee, earning a bachelors degree from the College of Business Administration in 1956. After college, Burke worked for a handful of companies before landing a job with Milwaukee-based appliance distributor Roth Distributing in 1960. With a knack for finance, Burke eventually became the companys treasurer and a shareholder.
In 1976, with $100,000 in seed money from Roth and a hunch that a high-quality American-made frame could fill the gap between Schwinn and the imported Japanese frame market, Burke started Trek Bicycle in a rented red pole barn in Waterloo, Wisc. With a payroll of five, Trek began handcrafting high-end steel touring frames. Under Burkes leadership, Trek grew from those humble beginnings into what is today the United States largest bicycle manufacturer. In 1998 Burke stepped down as CEO of Trek, turning day-to-day operations over to his son John. He remained active in the family business until the time of his death, serving as chairman of the board.
A gifted and accomplished businessman, Burke will be most remembered for his philanthropy and sense of social responsibility. He created the Trinity Foundation to focus on urban education, youth, and leadership development.
He is survived by his wife Camille, five children, and eleven grandchildren.
