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The Art of Succession
Trailer
Bonus
Episode 6
Season 2
The 25-Year-Old CEO: When Succession Comes Too Soon
In this episode of The Art of Succession podcast, host Barrett Young interviews Garrett Noach, president of Lamothermic, a casting manufacturer in New York. At age 25, Garrett unexpectedly took over the family business following his father's passing in 2022, offering valuable insights into both emergency succession and intentional business transformation.
Navigating Sudden Succession
Without a formal succession plan in place, Garrett transitioned from manufacturing engineer to company president of the $12 million operation. Despite having no formal business leadership training, he maintained stability by leveraging experienced management teams and focusing on learning critical business operations. Remarkably, the company retained all customers and employees during this challenging transition.
Implementing Strategic Changes
Garrett's first major decision involved a $750,000 investment in modernizing their production facility, requiring a ten-day shutdown. This bold move, though initially stressful, proved successful and established his leadership capability. He's now pursuing ISO 9001 certification and implementing new quality management systems, marking a significant evolution from traditional manufacturing practices.
Building a Culture of Excellence
Under Garrett's leadership, Lamothermic is developing a culture focused on continuous improvement and employee development. His approach emphasizes hiring "hungry, humble, and smart" team members while creating an environment where people want to come to work. This cultural transformation, combined with enhanced customer service standards and strategic planning, positions the company for sustainable growth.
Listeners can learn more about Garrett Noach by connecting with him on LinkedIn or visiting lamothermic.com. His journey demonstrates how next-generation leaders can honor their predecessor's legacy while steering their companies toward future success.
___________________
The Art of Succession Podcast is brought to you by GWCPA. Twice a month on https://www.youtube.com/@gwcpas, host Barrett Young will bring you interviews sharing the successes and challenges from business owners with their own succession stories. If you've enjoyed this episode, please share it with others.
🎙️ Become a Guest https://bit.ly/AOSBeAGuest
✍️ Leave your feedback for the show: Google Forms
📡 Also distributed on
Transistor.fm https://artofsuccession.transistor.fm/
Spotify https://open.spotify.com/show/7uhogBxFKWAAetAbD8TVQR
Apple Podcasts https://podcasts.apple.com/us/podcast/the-art-of-succession/id1742796896
📧 Prefer to get the Art of Succession in your inbox? Subscribe to the mailing list to be notified of new episodes: https://mailchi.mp/566bff6410fc/aos-podcast-rss
🖥️ Find out more about the show at https://gwcpas.com/podcast
Disclaimer: This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. You should consult your own tax, legal, and accounting advisors before engaging in any transaction.
Navigating Sudden Succession
Without a formal succession plan in place, Garrett transitioned from manufacturing engineer to company president of the $12 million operation. Despite having no formal business leadership training, he maintained stability by leveraging experienced management teams and focusing on learning critical business operations. Remarkably, the company retained all customers and employees during this challenging transition.
Implementing Strategic Changes
Garrett's first major decision involved a $750,000 investment in modernizing their production facility, requiring a ten-day shutdown. This bold move, though initially stressful, proved successful and established his leadership capability. He's now pursuing ISO 9001 certification and implementing new quality management systems, marking a significant evolution from traditional manufacturing practices.
Building a Culture of Excellence
Under Garrett's leadership, Lamothermic is developing a culture focused on continuous improvement and employee development. His approach emphasizes hiring "hungry, humble, and smart" team members while creating an environment where people want to come to work. This cultural transformation, combined with enhanced customer service standards and strategic planning, positions the company for sustainable growth.
Listeners can learn more about Garrett Noach by connecting with him on LinkedIn or visiting lamothermic.com. His journey demonstrates how next-generation leaders can honor their predecessor's legacy while steering their companies toward future success.
___________________
The Art of Succession Podcast is brought to you by GWCPA. Twice a month on https://www.youtube.com/@gwcpas, host Barrett Young will bring you interviews sharing the successes and challenges from business owners with their own succession stories. If you've enjoyed this episode, please share it with others.
🎙️ Become a Guest https://bit.ly/AOSBeAGuest
✍️ Leave your feedback for the show: Google Forms
📡 Also distributed on
Transistor.fm https://artofsuccession.transistor.fm/
Spotify https://open.spotify.com/show/7uhogBxFKWAAetAbD8TVQR
Apple Podcasts https://podcasts.apple.com/us/podcast/the-art-of-succession/id1742796896
📧 Prefer to get the Art of Succession in your inbox? Subscribe to the mailing list to be notified of new episodes: https://mailchi.mp/566bff6410fc/aos-podcast-rss
🖥️ Find out more about the show at https://gwcpas.com/podcast
Disclaimer: This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. You should consult your own tax, legal, and accounting advisors before engaging in any transaction.