{"id":30184,"date":"2019-08-20T13:05:00","date_gmt":"2019-08-20T17:05:00","guid":{"rendered":"https:\/\/idealelectricalinc.com\/jim-james-retirement\/"},"modified":"2026-06-08T11:14:14","modified_gmt":"2026-06-08T15:14:14","slug":"jim-james-retirement","status":"publish","type":"post","link":"https:\/\/idealelectricalinc.com\/en-ca\/jim-james-retirement\/","title":{"rendered":"IDEAL Industries, Inc. Chairman and CEO to Retire"},"content":{"rendered":"\n
<\/p>\n\n\n\n
August 20, 2019 \u2013 Jim James, Chairman and CEO of IDEAL INDUSTRIES, INC. has announced he will retire on January 31, 2020. Steve Henn, a Group President from Illinois Tool Works (ITW) will succeed Jim as CEO on September 23, 2019. As long planned, Meghan Juday, a fourth generation family executive, will become the Chairman of the 103-year old family company on February 1, 2020 when James retires.<\/p>\n\n\n\n
James announced his decision to the family and Board of Directors over two years ago. \u201cI believe that after 11 years or so, it\u2019s time others get an opportunity to make their mark on the organization,\u201d said James. \u201cI want to thank Dave Juday (preceding Chairman), Meghan Juday and the rest of the family for their trust, confidence and continual support over the years. I love the family. It has been an honor and privilege to work for them. They\u2019ve made me feel like family.\u201d<\/p>\n\n\n\n
The New CEO<\/b><\/h2>\n\n\n\n
\u201cSteve Henn is a great fit for the organization,\u201d said Chris Baldwin, Chairman of the Succession Committee. \u201cHe\u2019s consistently produced revenue and profit growth in dynamic, challenging and changing markets.\u201d<\/p>\n\n\n\n
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\n<\/figure>\n<\/div>\n\n\n\n
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Henn joins IDEAL from Illinois Tool Works where he was Group President, Industrial Equipment & Plastics, the largest Platform within the $2.0B Specialty Products Segment. The Platform comprised 6 Divisions with more than 3,000 employees operating more than 30 facilities serving multiple markets in 15 countries. Prior to that Steve built a roughly $600 million business and became Group President of ITW\u2019s Global Packaging Solutions Platform.<\/p>\n<\/div>\n<\/div>\n\n\n\n
His experience running a diversified global business serving a multitude of industries has prepared him to lead a company like IDEAL. Baldwin noted that Henn also brings the company proven expertise in global management, acquisitions and integrations, innovation, high performance team development, and manufacturing.<\/p>\n\n\n\n
IDEAL Poised for Sustained Growth, Innovation and Expansion<\/b><\/h2>\n\n\n\n
\u201cAll of us are going to miss Jim\u2019s vision, brilliance and energy,\u201d said Meghan Juday. \u201cOver these last 11 years, Jim has transformed the company.\u201d She noted IDEAL has grown substantially under his direction, not just getting larger as a company, but also becoming a more sophisticated company. \u201cHe is a friend and mentor as well as a visionary business partner.\u201d<\/p>\n\n\n\n
Juday shared the family and Board of Directors\u2019 appreciation for James\u2019 many accomplishments. He reinforced IDEAL\u2019s strong financial position along with the company\u2019s culture and founding principles. He supported the family\u2019s initiative to maintain perpetual ownership of the company, and side by side with the family, worked to accomplish this important milestone for the family and the business. He set the foundation for platform-changing acquisitions such as CMD, Enatel and Cree Lighting.<\/p>\n\n\n\n
\u201cThis expanded our global footprint while also diversifying the business and accelerating the development and delivery of category changing innovations. Jim focused IDEAL\u2019s operating divisions on the end users of our products and services. He also drove the development and deployment of our digital transformation and emerging e-commerce capabilities to enhance relationships with our customers. His many accomplishments have us well positioned for the future,\u201d continued Juday.<\/p>\n\n\n\n
\u201cWe’ll miss Jim, but fortunately he has strengthened IDEAL and our businesses are set for continued success and growth.\u201d<\/p>\n\n\n\n
Family Stewardship at IDEAL<\/b><\/h2>\n\n\n\n
Juday stressed that IDEAL INDUSTRIES will remain family owned. \u201cWe\u2019re built for long-term success. We see things in generations not just quarters.\u201d She explained the company will continue to invest in training and development, innovation and in acquiring companies that \u201ccomplement our core businesses and provide us significant positions in growing global markets.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Jim James to Retire and Steve Henn Joins IDEAL as CEO. Meghan Juday 4th Generation Family Leader to Become Chairman of the 103-Year-Old Family Company<\/p>\n","protected":false},"author":601,"featured_media":"aprimo:e1909ac15b0d4e289d71b441010ac48e","comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ideal_industries_subtitle":"Jim James to retire and Steve Henn joins IDEAL as CEO. Meghan Juday, 4th generation family leader, to become chairman of the 103-year-old family company.","ideal_industries_page_buttons":[],"ideal_industries_color_scheme":"","featured_image_focal_point_x":0.65,"featured_image_focal_point_y":0.37,"ideal_hide_featured_image_in_document":false,"footnotes":""},"categories":[54495],"tags":[],"product_cat":[],"product-series":[],"product-application":[],"industry":[],"class_list":["post-30184","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-company-news-announcements"],"yoast_head":"\n
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