WOOD DALE, Ill., October 12, 2022 (Newswire.com) - Optimas Solutions, a global industrial manufacturer/distributor and service provider, announced today the elevation of Mike Tuffy to CEO, International, and Daniel Harms to CEO, Americas. The decision to implement a dual-CEO structure evolves the organizational model established in 2020 with autonomous, yet connected, business units.
By design, this structure has brought Optimas closer to customers and suppliers and created greater community within the organization. It also better reflects the scope of Harms and Tuffy's roles and the contributions they've been making to Optimas for over a year.
"This promotion is recognition for how much Optimas, under the leadership of Mike and Daniel, has accomplished over the past year," said AIP Partner Tim Horgan. "Their leadership, partnership, and results have exceeded expectations."
Success of Dual CEOs
According to the Harvard Business Review, of the 2,200 companies listed in the S&P 1200 and the Russell 1000 stock indexes, from 1996 to 2020, fewer than 100 were led by two chief executives simultaneously. During periods of dual leadership, nearly 60 percent of these companies generated an average annual shareholder return of 9.5 percent. This is significantly higher than the average of 6.9 percent for each company's relevant investment index. Dual-leader tenure also lasted about as long as a single CEO at the helm — around five years on average.
While both regions have their own goals and objectives, Optimas continues to activate learnings and efficiencies gained over the past two-and-a-half years to better align new and existing services to customer and supply partner needs. Some of these innovations include establishing and adopting:
- Business Intelligence Teams to activate the power of its ERP, demand planning and inventory management applications to deliver tech-enabled automation and supply chain assurance.
- Re-imagined Supply Chain Organizations with a category-based structure to streamline communication and order execution, enhance supplier relationships and shape fulfillment for future business expansion.
- Global Project Management Office to codify and digitize process innovation that elevates operational efficiencies and increases supply chain assurance.
- Manufacturing Capabilities to expand capacity, improve output and reduce lead time for customers.
- Investments in New and Existing Talent to strengthen Optimas and help constituencies elevate their productivity and profits.
- Advancements in Social Responsibility Initiatives to further sustainability and company culture efforts.
"The past year has been a great journey for Optimas," said Harms and Tuffy. "We both share a deep belief in this dual-CEO structure — and the positive momentum Optimas has gained in the last year is real. Feedback from customers, prospects and teammates around the globe is positive and tells us we're on the right track."
Tuffy has over 35 years of experience in the fastener industry with leadership positions across commercial, sourcing and operations. As the leader of international markets, he utilizes his broad knowledge of world-class supplier capabilities to match with customer needs and expectations that drive efficiencies for partners and Optimas. Previously, Mike served in leadership positions at Walters Hexagon and Anixter where he was part of the management team that significantly grew the business through organic growth and acquisitions. He was also part of the acquisition team that carved Optimas out of Anixter.
A strategic thought leader with nearly 20 years of supply chain experience, Harms has built and guided high-performing teams to deliver operational excellence across multiple industries. His influential leadership style and data-driven, problem-solving approach have consistently produced top- and bottom-line growth with company P&Ls over $100 million. Prior to joining Optimas, Harms held several positions of increasing responsibility at DSC/CJ Logistics, culminating as Senior Vice President, Operations. Harms earned a Master's of Business Administration from the J. Mack Robinson College of Business at Georgia State University and a Bachelor's of Science in Business Administration from The University of Tennessee. Harms is a member of the Council of Supply Chain Management Professionals.
About Optimas Solutions
Optimas Solutions is a leading, tech-enabled global manufacturer/distributor of fasteners, inventory management services and production consumables that help producers elevate efficiencies and reduce costs. With deep supply chain expertise, we minimize risk, optimize inventory, enhance operations and improve product quality for industrial manufacturers. Examples of our work are evident in the products of leading global brands and at optimas.com.
Source: Optimas Solutions