Wood Dale, IL. – October 12, 2022 — 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.
Foundational Momentum
While both regions have their own goals and objectives, Optimas continues to activate learnings and efficiencies gained over the past 2.5 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.
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