Frank Newman who retired earlier this year is thought to remain as a member of the board of director at The Stow Company, founded by one of the world richest billionaire couple, Dick DeVos and his Betsy DeVos. Frank was replaced by a new CEO, Phil Dolci as at 4th April this year. The Stow Company, is a subsidiary of the Amway Holding Company, The Windquest Group based in Grand Rapids, Michigan. The company has grown in the past decade to become one of the best companies offering innovative and quality storage systems.
Phil Dolci has had over 30 years of experience as an executive, recently working as the president and Chief Executive Officer at Crosman Corporation. Crosman Corporation is world class designer, manufacturer and distributer of shooting sports products. He has excelled as a business leader particularly in product manufacturing and marketing. He background as a leader at a number of companies including Sanford (a subsidiary division of Newell Rubbermaid), Dean Foods, ConAgra Foods, and US Playing Cards (a division of Jarden Corporation) makes the perfect replacement for Frank Newman.
He holds a Bachelor’s Degree in Economics from the University of Chicago and an MBA from Kellogg School of Management, a constituent of Northwestern University. Dick DeVos believes that Dolci will be the man to carry on the tenure of Frank Newman, bringing with the kind of experience and expertise that will drive the company toward growth in the industry.
About Dick DeVos
Dick DeVos is the chairman and founder of The Stow Company, a division of Amway earlier founded in 1959, by Richards DeVos (his father). Dick DeVos acquired his entrepreneurial skills and experiences working for his father spearheading the company’s operation from 1993 until 2002. He entered into politics by running as the Governor of Michigan, but was outdone by his Democratic compatriot.
Both Dick and his wife Betsy have promoted education initiatives. The philanthropist couple have continued the DeVos family tradition by donating to schools including Grand Rapids Aviation Trade School, Michigan Christian school among others. They established the Education freedom Fund, an initiative that offer low-income students with scholarships to attend private schools.
He is a serious supporter of liberal democratic political leaders and has been involved in funding a number of their campaigns. Dick DeVos is also one of the 67 richest American businessmen with a net worth of approximately $5 billion.