Ric Phillips, Elkay's new CEO and president
US-based water dispenser manufacturer Elkay Manufacturing has announced that its CEO and president Tim Jahnke is retiring, and the company has appointed Ric Phillips as his successor.
Phillips joins Elkay from office supplies firm Essendant, where he also served as the company’s CEO and president. During his tenure at the company, he reportedly increased the company’s share price by more than 50%.
Prior to his appointment as Essendant CEO, Phillips served as the president of Essendant’s ORS Nasco Industrial business and also group president of the company’s Industrial Portfolio. He joined Essendant in 2013 as president of Online and New Channels.
Phillips said: “It is an exciting time to join Elkay, and I feel honoured to fill this important role at such a pivotal moment in the company’s history.
Elkay is a vibrant, rapidly-growing global enterprise spanning multiple industries that also happens to be turning 100 years old in January 2020.
“I look forward to celebrating this remarkable milestone and working with the company’s 2,500 employees around the world to continue advancing our ingenuity and innovation and providing world-class service to an ever-expanding set of global customers.”
Jahnke has served as Elkay’s CEO since 2007, and is retiring in order to focus on his role on Elkay’s board of directors.
Ron Katz, Elkay’s chairman of the board of directors said: “Our company is family-owned and professionally-managed. We have always strived to find company leaders – whether from within the company or professionals from outside – who are the best people for their leadership roles.
“For the past twelve years, Tim Jahnke has been a sterling example of a professional leader who has led the company masterfully while consistently exemplifying our values.
“As Tim steps away from day-to-day leadership and more fully into his position on the Board, it is a pleasure that a leader of Ric’s calibre has agreed to join our company in this key leadership role as President and CEO. I have every confidence in his ability to lead our company forward.”
© FoodBev Media Ltd 2020