J.A. Lacy to Join Leadership of LDI
Indianapolis, IN – October 19, 2011 – David Shane, President and Chief Executive Officer of LDI, Ltd. LLC, announced on behalf of its Board of Managers today that effective November 14, 2011, J.A. Lacy will become the President and Chief Operating Officer of LDI. “We are pleased that going forward LDI will have the benefit of J.A.’s leadership and experience,” said Shane. “He will assume operating responsibilities for LDI and in that capacity also work with the presidents and management teams of our business units to improve further their operating performance and increase value for our owners.”
Lacy is a 1987 graduate of the University of Notre Dame and received his MBA from the University of Chicago Booth School of Business in 1996. He began his career in marketing with DDB Worldwide and subsequently served as a Vice‐ President of J. Walter Thompson advertising agency. In 1996 he assumed leadership of Tucker Rocky Canada, an operating division of Ed Tucker Distributor, Inc., headquartered in Ft. Worth, Texas. In 1999 Lacy returned to Indianapolis and joined the leadership of FinishMaster, Inc., a publicly traded distributor of automotive aftermarket paints and related products; he rose to be its President and Chief Executive Officer. FinishMaster was acquired by Uni‐Select, Inc., headquartered in Montreal, Canada in early 2011. He leaves that position to join LDI.
LDI’s offer to Lacy to join its management team in a leadership position is part of the enterprise’s leadership succession plan. Shane will turn 65 in 2013 and he recommended to the board of directors that they reach out to Lacy to explore his interest in leading LDI. Shane related, “Our board looks out over the long‐term, thinking about this institution ten or more years from now. We have been building our management team with an eye to the next generation of leadership and success for LDI. We already were strong in financial and transactional leadership. We recently have added depth in operating and human resource leadership. Our ability to recruit J.A. provides overall top executive leadership for LDI’s future.”
Mike Smith, an outside director for LDI, noted the value of planned transition. “Dave has been and remains a valuable leader for LDI, building the enterprise, and he and J.A. will make a good team. J.A. will be able to lead LDI and focus on opportunities there and at the operating companies. In addition to providing J.A. with guidance and support, Dave can focus on longer term strategic considerations for LDI, support our hunt for new acquisitions, oversee investments and handle unit holder and community service and relations.”
Shane will remain LDI’s Chief Executive Officer for the immediate term and will become Vice‐Chairman of LDI in 2012. He has informed LDI’s board that he believes Lacy should assume the CEO position sometime in 2013.
Andre Lacy noted the importance of a planned and effective transition. “We are grateful for Dave’s leadership of LDI. Because I believe so firmly in LDI as an institution, I am particularly pleased with the way Dave has developed our leadership team and grateful he is willing to assume the responsibilities of Vice‐Chairman. Dave gained exposure to J.A.’s leadership when Dave was Chairman of FinishMaster and J.A. was CEO, and I am confident they will both serve LDI well in the future.”
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