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Rich Products Names Richard Ferranti the 4th President

Rich’s Executive Team Also Expands as Global Company Continues its Focus on Long-Term Growth and Success as a Family-Owned Business

BUFFALO, NY – Rich’s Chief Executive Officer Bill Gisel recently announced a series of executive promotions that adds greater strategic depth to its executive leadership team and further strengthens its development and succession planning for the top levels of the organization.

Richard Ferranti Promoted to President and Chief Operating Officer

Richard Ferranti becomes just the fourth president in company history, succeeding Founder Bob Rich, Sr., Chairman Bob Rich Jr. and Gisel. Gisel, who previously served as President and Chief Executive Officer, will continue leading Rich’s as its CEO.

“Richard brings a wide array of exceptional qualities to his new role, not the least of which is his passion to fulfill our mandate for Rich’s to achieve long-term success as a family business,” said Gisel. “We continue making changes today that will better position Rich’s over the long term and we could not be on a better path with Richard working closely with our Executive Team to chart our course for success as the next president of Rich Products.”

As president, Ferranti takes on more direct leadership responsibility for the strategic priorities of the business, enabling Gisel to focus increased attention on Rich’s long-term direction and organizational excellence priorities. Ferranti also maintains his role as Chief Operating Officer, where he oversees the performance of the company’s various businesses in more than 100 countries.

“I am grateful to the Rich Family and Bill Gisel for the opportunities they have given me throughout my career to develop the necessary breadth and depth of experience required for this important leadership role,” said Ferranti. “As we look ahead to 2019 and beyond, we have enormous opportunities to grow our business, and improve our ability to deliver our unique value proposition for customers across the globe. We know that if we continue to work tirelessly to strengthen and improve our business, we will be successful.”

Jeff Kim Promoted to President of Global Markets; Kim and Ray Burke Appointed to Rich’s Executive Team

Jeff Kim has been promoted to President of Global Markets – a newly created role with responsibility for leveraging Rich’s global reach and local activation. A 26-year associate, Kim most recently led business operations as president of Rich’s Asia-Pacific region. With this promotion, Kim also was appointed to Rich’s executive leadership team.

Gisel also announced the appointment of Ray Burke, President of Rich’s US-Canada Region, to Rich’s executive team. Burke, who started with Rich’s in 1981, will continue to oversee Rich’s business in the US and Canada.

“Rich’s is just two years away from celebrating its 75th anniversary, a milestone that places us among the most successful and enduring global family businesses anywhere,” said Gisel. “Our future is bright and we’re confident that the leaders we have in place will help us achieve the extraordinary results for our customers, our associates and our company now and well into the future.”

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