Early Life
McLarty was born in Hope, Arkansas, and graduated from the University of Arkansas in 1969. He is a member of Sigma Chi Fraternity. He worked through the ranks of the business founded by his grandfather, Thomas F. "Mr. Tom" McLarty, Hope Auto Company. After serving a term in the Arkansas House of Representatives, he concentrated his efforts on growing the family's truck leasing business, first called M&M Leasing, later to become McLarty Leasing. He expanded the family's Arkansas dealership network to locations in Hope, Texarkana, Magnolia, and Little Rock. He was urged in many Democratic Party circles to seek the governor's chair vacated by David Pryor in 1978, but he deferred to his friend and fellow Hope native, Bill Clinton. He was elected to the State Legislature at the age of 24, serving a single term from 1971–1973 and served as chairman of the state Democratic Party from 1974–1976."
In 1976, he became the youngest member ever elected to the Board of Directors of the Arkla Gas/Arkla, Inc., a Fortune 500 natural gas company. In 1983 he became Arkla's Chairman and Chief Executive Officer. During his tenure, the company was recognized by Forbes, The Wall Street Transcript, and The Financial Times for management excellence, in addition to his automotive endeavors.
He has a distinguished record of business leadership and public service, including various roles advising three Presidents: Jimmy Carter, George H. W. Bush and Bill Clinton. McLarty worked with President Carter as a member of the Democratic National Committee and was appointed to the National Petroleum Council and the Council on Environmental Quality.
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