Industry Leader United Electric Announces Leadership Transition
United Electric, a strong competitor and force in the industrial and commercial electrical construction industry, today announced that Jim Olliges will retire as Vice President and Chief Operating Officer of the company, transitioning his portion of ownership to an Employee Stock Ownership Plan and leadership to the employees.
LOUISVILLE, Ky., Feb. 21, 2019 /PRNewswire-PRWeb/ -- United Electric, a strong competitor and force in the industrial and commercial electrical construction industry, today announced that Jim Olliges will retire as Vice President and Chief Operating Officer of the company, transitioning his portion of ownership to an Employee Stock Ownership Plan and leadership to the employees. He will remain a part of the organization and assist in the transition until the end of 2019 while the new management team is installed. Jim, who purchased United Electric with Dan Walsh in the early 2000s, has been a driving force in transforming the company for long-term, sustainable success.
The new management team will be mentored by Dan Walsh, whom, while temporarily retaining his portion of the company, will continue to lead the company as CEO. Dan's task is the development of the new leadership team which includes Larry Farrell as VP of Commercial Operations, Joe Heger as VP of Petrol Chemical Operations, Mark Hatcher as VP of Utility Services, and Mitch Ashbrook as CFO. The team is adopting an assertive growth-oriented stance, taking on new and more challenging projects.
In a joint statement the management team says that through the faith in the employees, and the strong existing culture, a new and exciting chapter is on the horizon for United Electric.
"Our North American business has been thriving and is well positioned for continued success," the team went on to say. "Dan and Jim have done a tremendous job of leading United Electric to a strong position. The company has grown 4x in revenue since the last transition, and our team plans to continue that momentum allowing United Electric to evolve and grow."
United Electric is staffed with skilled electricians, handling all types of electrical work. From complex high voltage industrial installations to low voltage automated control system, they construct, repair and provide upkeep 24/7. The utility services division is currently engaged on a recently awarded a 7-year project with LG&E for infrastructure updates. In addition, they have recently completed projects in 16 states, and previously handled large scale international projects for a variety of Fortune 500 customers.
Over the last several decades, United Electric has established a partnership with the IBEW and an extensive training program with the JATC (Joint Apprenticeship Training Center).
The new management team anticipates a smooth transition, putting United Electric's operations in the hands of a diverse set of highly capable employee owners who are best positioned to serve both national and international projects. They are thankful to Jim Olliges and Dan Walsh for their leadership in building a strong foundation for United Electric, and are excited about the future of the company.
For more information on United Electric, please visit http://www.unitedelec.com.
SOURCE Hatfield Media
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