Reyco Granning announced that its president Dave Compton has decided to retire effective Sept. 30, 2015. John W. Stuart, vice president of engineering for the company, will succeed Compton and begin his role as president Oct. 1.
During Compton’s four-year tenure, the company has achieved revenue growth of 55% and expanded its workforce by 30%, Reyco said. Compton will stay on-board as a consultant until Dec. 31, 2015, to ensure a smooth leadership transition, according to the company.
“Dave will be missed,” said Greg Purse, board chairman. “In his tenure as President of Reyco Granning he has provided the business with strong leadership, team building and direction since the business was acquired in 2011. Dave is respected by employees and management alike and earned strong support of the Board. We are grateful for his service and wish him well in his retirement.”
According to the company, Stuart has 25 years of experience in the heavy-duty transportation industry where he has focused on new product development, business development, profit enhancement and global program management. Prior to being named vice president of engineering, Stuart held several senior leadership positions at Hendrickson International and Navistar, the company added.
“We chose John to succeed Dave based upon his experience and knowledge of the business and industry and his vision for the company and its future,” Purse said. “With his strong ability to add structure and accountability to a mature engineering driven business, his focus on change and innovation, and his overall business acumen, we feel that he is the face of the future of Reyco Granning and we are excited for what he brings to the company. He was also recommended by Dave, which is a valued endorsement.”
“I am deeply honored that the Board has given me the opportunity to lead Reyco Granning and build upon the successes the organization has achieved during Dave’s tenure,” Stuart said. “During the next few weeks, I will assemble my team and develop strategies to take the company to the next level in the goal of solidifying Reyco Granning’s status as an international leader in suspension solutions.”