In a significant transition for our client, a leading family-owned agricultural producer across the eastern and midwestern United States, the challenge of appointing its first non-family CEO was met with success through Boyden's strategic recruitment efforts.
Our client is a family-owned company in the agricultural sector that has production operations in four states and sells its products throughout the eastern and midwestern United States. As a top-five producer in its industry, it generates annual revenues ranging from $500 million to $1 billion. Throughout its 60+ year history, the company has been family-owned and managed, establishing a solid reputation among its customers and suppliers.
The organization has grown through both organic investment in production and acquisition, increasing the complexity of its operations. As the family reviewed the current and future needs of the business, they determined that it was time to seek a non-family member CEO to lead the organization into the future.
Qualified candidates needed to be accomplished CPG industry professionals with extensive experience in the largest retail channels. While the company’s production operations were exceptionally well-run and maintained, succession planning needed to be established to ensure continuity. Processes and procedures appropriate for an organization of its size and scale also needed to be implemented. Given the distributed nature of the operations, it was crucial to develop local leadership and executive management teams that could lead with a common purpose. Additionally, the new CEO needed experience in implementing best practices in SG&A and supply chain management to reduce costs and improve profitability. Due to the headquarters' location in a rural area without a large talent pool of experienced CPG sector executives, it was highly likely that the individual would need to relocate.
Finally, the selected candidate had to be comfortable working within the dynamics of a family-owned business as the first non-family member CEO. This role required reporting to a newly formed board composed of both family members and independent directors.
Boyden conducted a national search, identifying over 100 prospects to find qualified candidates from the CPG sector. Of equal importance was identifying those with the appropriate exposure to family-owned companies and the right personality characteristics to succeed in that environment. Although it was an attractive opportunity, finding individuals whose personal circumstances allowed for relocation was a challenge, especially as the effects of COVID lingered.
Boyden presented three candidates to the selection committee. The individual ultimately selected had spent almost 20 years at a large CPG company that was publicly traded but family-controlled. At the time Boyden approached him, he was leading a $1.9 billion division of another company and reporting to its CEO. Boyden recruited him to join our client company as CEO, and he committed to relocating to Pennsylvania. Since then, new leadership team members have been onboarded, and the organization continues to evolve and grow.
