REFERRED BY
We were introduced to the client by Cornerstone Advisors, a succession and human capital development firm that has trusted us for over seven years.

CHALLENGES
This client is a 100% ESOP company that started 50 years ago as a general contractor and grew into a building products distribution company.

As a result of an unexpected illness the CEO passed away. There was no succession plan in place. He was a family member who had spent his entire career with the company, hired a large number of the managers, was married to the Chairman’s daughter, and was generally loved and respected by the entire company.

SEARCH PLAN + RESULTS
Adams Partners was engaged to work with the Board of Directors providing executive search to help hire a new CEO as well as transition consulting services. We spent considerable time talking with all senior leadership about the search process while gathering their input and listening to their concerns. We met regularly with the board sharing this information and making recommendations when necessary.

The unique issues of an ESOP company, the tightly knit family culture of the firm, the sudden and unexpected death of the CEO, in-house candidates as well as other factors made this assignment very challenging and very rewarding. Over the course of the assignment we became very close with the founding Chairman and felt as if were accepted as part of their organization.

A new CEO was chosen based on his familiarity with the company and its markets. The company was very pleased with our services inviting us to attend the company retreat where they announced the naming of the new CEO.