Malco Accelerates Growth and Strategic Initiatives with New Leadership Roles
The Company expands its breadth of senior leadership experience to focus on critical areas of the business
Malco Products, one of the nation’s leading solution developers and manufacturers of a variety of high-quality tools for the HVAC and building construction trades, has announced several new leadership roles with the organization designed to support the company’s continued growth and to focus on critical areas of the business as part of its overall strategic plan.
Malco has enjoyed a sharp increase (to nearly 13%) in annual growth since the start of this decade and has added several new strategic leaders throughout the company and at the board level to support and accelerate Malco’s continual development of products to serve current and new markets. The latest organizational leadership changes include:
Scott Crane has been promoted from Executive Vice President of Finance and Strategy to Chief Strategy Officer (CSO). The CSO is a key leadership position responsible for developing and executing the company's strategic initiatives and investment strategies. Crane will play a critical role in guiding the organization's growth and ensuring its competitive advantage in the market.
Mike Hemmesch has been promoted from Director of Business Intelligence to Chief Financial Officer (CFO), following the retirement of current CFO Carla Hinnenkamp, who has been with Malco for 10 years. In this role, Hemmesch will oversee the finance, accounting and technology/MIS teams and manage all aspects of the company’s financial and cash flow planning as well as guiding the company’s future growth initiatives.
“As we look ahead to the growth plans we have outlined for Malco, we knew it was important to have the right people in the right seats to ensure that our teams are well-positioned for the future,” said Rich Benninghoff, Malco’s president and CEO. “Over the past several years, we’ve seen tremendous growth as we continue to offer innovative new products that serve our end users and have been very fortunate to have built a strong bench of talent within our organization. These organizational changes will allow us to further embrace our team’s experience, focus on critical areas of the business and provide even better support for the Malco team.”
About Malco Products
Malco Products, based in Annandale, Minnesota, is one of the nation’s leading solution developers and manufacturers of a variety of high-quality specialty hand tools for the HVAC and building construction trades. Backed by over 70 years of history, these specialized tools are built to last, rigorously tested and backed by a limited lifetime warranty. Malco is proud to be 100% employee-owned. Malco earned a Manufacturing Excellence Award from Twin Cities Business Magazine in 2022 and was named the 2018 Medium Manufacturer of the Year by the Minneapolis/St. Paul Business Journal.
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