ROCKFORD, Ill. — Field Fastener, a family-owned global supplier of inventory management, technical support services and complete supply chain solutions for fasteners and other “c” class items, announced the company’s leadership succession plan.
Jim Derry, president and CEO of Field, has announced that Adam Derry will be promoted to succeed him as president, effective immediately. In addition, Chris Pauli will be promoted to executive vice-president and chief financial officer. Jim Derry will remain the company’s CEO.
The new roles reflect the tremendous impact Adam and Chris have had on Field’s growth and culture, and a testament to the confidence Jim and Bill Derry have in their ability to execute on its future growth plans.
In 1990, Jim and Bill Derry acquired Field from Dick Field. Since that time, Field has seen aggressive growth, achieving an 18% average growth rate per year. Field currently has operations in Rockford and Troy, Illinois, Tyler, Texas, Florence, South Carolina, Monterrey and Monclova, Mexico, and Kaohsiung, Taiwan. Under Jim’s leadership, Field grew beyond $100 million and rolled out the 30-Fieldamentals, which is at the heart of Field’s culture. As CEO, Jim will focus on key customer relationships, acquisitions and facilitating strategic planning.
“It has been an honor and privilege to lead the Field team for the past eight years; I have had the best job on the planet," Jim Derry said. "It is the right time for a leadership change. Adam and Chris have been preparing for this change for years and are both ready to take over. The organization is also ready: our culture is better than ever, our value proposition has never been stronger, and the future is very promising for Field. Adam and Chris will do a great job leading the team going forward.”
Adam Derry took over as president on May 31. In this role, Adam will provide strategic direction for the entire organization, ensuring Field achieves its financial and organizational objectives. Adam will have overall accountability towards Field’s operating plan and 10-year strategic plan, as well as protecting and enhancing the Field culture as it continues to grow. Adam joined Field in 2006 and has most recently served as the chief customer officer since 2018 and on its board of directors since its inception in 2015.
“What an honor it is to follow in the footsteps of my dad and uncle and lead this incredible company," Adam Derry said. "The impact and legacy that Bill and Jim have made on the Field team, our customers, and in our communities is immeasurable. We believe strongly that we are well positioned to continue our growth, and that our best days are ahead. We have a strong culture, a compelling value proposition, and have a clear vision that our team is bought into. Chris Pauli is a highly respected executive that knows our business extremely well, and I could not be more excited to partner with him.”
Pauli will be responsible for multiple functional areas including, operations, finance, account management, sourcing, implementation, information technology, the South Carolina, Texas, and Mexico locations, and the Taiwan sourcing and quality office. Pauli also serves on Field’s board of directors.
“I am honored to serve our team in this new role. I am excited to work with Adam as our new president and the entire team to continue to grow this great company to new heights in the years to come," Pauli said. "I am extremely grateful for all the opportunities Bill and Jim have provided me over the past 18 years. Adam and I have one of the best and brightest leadership teams I have ever had the chance to work with and I am certain they will help us achieve all our strategic goals and improve the lives our team members, their families, and the communities we serve.”