An internal realignment has Rich Products Corp. adjusting some of its business unit structures and, at the same, adding new responsibilities to four members of its executive leadership team.
Rich's is transitioning from its current dual business group structure, North America and International, to one organization consisting of five regional business units: US/Canada, Asia/Pacific, Latin America, Europe/Middle East and South Africa.
"The timing is right for this next step in our organizational evolution," said Bill Gisel, Rich Products president and chief executive officer. "During the past 20 years, we have made considerable investments in our business infrastructure and built significant workforces across the world. The logical transition to one universal business group with regional governance supports the fact that we're now truly a global enterprise."
The official realignment takes effect Jan. 1.
"This move will strengthen our ability to share our global business and in-market expertise with our customers, delivering trends and ideas from around the world that will help them be more successful," Gisel said. "It also will enhance the development opportunities we offer to our associates across our company."
Gisel said the realignment has no impact on the company's global headquarters on Niagara Street, for now.
"As our business gets bigger, I expect we will get bigger," Gisel said.
Rich Products, the region's largest privately-held firm, has more than 1,300 local workers including those employed by the company and its affiliates, the Buffalo Bisons, the Travel Team and ROAR Logistics.
Rich Products has more than 8,000 employees worldwide, about one-third who work outside of the U.S.
The realignment and executive team refinements include:
• Promoting Richard Ferranti, most recently president of Rich's North America Business Group, to executive vice president and chief operating officer. The COO position has been vacant since Gisel was named the company's president and CEO several years ago.
"His intellect, passion and long-term track record of success in a variety of important leadership roles across Rich's make Richard the ideal candidate to assume this critical position for our company," Gisel said.
• Kevin Malchoff was named executive vice president of global business development.
Malchoff, was president of Rich's International Business Group, and has been named as the seventh member of the company's board of directors.
"Under Kevin's leadership, our businesses outside the U.S. and Canada have driven unprecedented rates of growth and success in emerging markets across the globe," Gisel said.
• Jim Deuschle has been promoted to Rich's executive vice president and chief financial officer, is assuming additional responsibility for the company's "Global Procurement" function.
• Maureen Hurley, Rich executive vice president and chief administrative officer, is continuing in her current role with oversight of the company's Legal, Communications and Human Resources functions. Hurley also is taking on added responsibilities related to global HR leadership.
"Maureen has demonstrated a keen insight and ability to drive people and communication strategies that shape our culture and engage our associates," said Gisel. "She will also be instrumental in driving the strategies that support our worldwide reputation."