David Lee Announces Planned Exit as CEO of PECO Pallet
By Business Wire News
By Business Wire News
After leading more than 10 years of continuous growth as the president and CEO of PECO Pallet, a leading pallet rental company and member of the Pritzker Group family of companies, David Lee today announced that he will be stepping down from his role as CEO in 2016. Lee will work closely with Pritzker Group on succession plans and serve as an ongoing advisor to the company after the search for his replacement is complete.
Lee joined PECO Pallet in 2005, prior to Pritzker Group’s ownership, and brought the company back from the brink of bankruptcy. After recruiting a new supply chain team, Lee helped PECO increase its pallet issues at a double digit rate every year during his tenure as CEO. Under his leadership, the company greatly expanded its distribution footprint throughout the U.S., Mexico and Canada and earned recognition as an industry leader committed to quality, service and sustainability. PECO enjoys the support of a formidable and ever-expanding list of major customers throughout North America.
“The past decade at PECO has been the highlight of my career and thanks to the strong foundation we’ve built, the company is well-positioned for continued growth and expansion,” said David Lee. “Leading a rapidly growing company like PECO is a 24/7 lifestyle. It’s time for me to shift gears and hand the reins to a new leader who can continue PECO’s long run of profitable growth.”
“Working with David has been a great pleasure and a complement to our shared mission of creating long-term value,” said Pritzker Group managing partner J.B. Pritzker. “David is a consummate professional and we’re enormously grateful for his leadership these past ten years. Thanks to David’s insight and vision, PECO will sustain its rapid growth and industry-leading innovation and we look forward to continuing to grow together.”
PECO provides high-quality wood pallets for grocery and consumer goods manufacturers throughout North America, including Kraft Heinz Foods Company, Georgia-Pacific, Abbott Nutrition and Clearwater Paper. Companies use PECO’s sturdy, four-way block pallets to ship products to warehouses and production lines. PECO regularly inspects, repairs and recycles its pallets, built from responsibly forested timber, to help eliminate waste, inefficiency and safety problems associated with single-use and low-quality pallets.
About PECO Pallet
PECO Pallet is the North American leader in pallet rental services and provides millions of its red block pallets to major grocery and consumer goods manufacturers throughout the U.S., Canada, and Mexico. PECO Pallet’s tremendous growth over the last decade reflects the company’s overall commitment to quality and service. Customers using PECO’s superior pallets experience less product damage, greater efficiency, improved safety, and significant cost savings. PECO is headquartered in Irvington, New York and maintains over 1,500 service centers and manufacturing plants throughout North America. For more information about PECO Pallet, visit pecopallet.com.
About Pritzker Group
Pritzker Group, led by Tony and J.B. Pritzker, has three principal investment teams: Private Capital, which acquires and operates leading North America-based companies; Venture Capital, which provides early-stage and growth venture funding to technology companies throughout the United States; and Asset Management, which partners with top-performing investment managers across global public markets.
Pritzker Group Private Capital acquires North America-based middle-market companies with leading positions in the manufactured products, services and healthcare sectors. The firm’s permanent, proprietary capital base allows for efficient decision making, broad flexibility with transaction structure and investment horizon, and alignment with management teams focused on creating long-term value. Pritzker Group brings significant resources, expertise and credibility in building businesses and is an ideal partner for entrepreneur- and family-owned companies. For more information, visit pritzkergroup.com.
Martha Arendt, 312.629.9400