Three siblings. Three generations. And now, three CEOs. If good things come in threes, as the saying goes, Hoffer Plastics, a leading provider of custom injection molding solutions, definitely has a good thing going. The company’s board of directors has promoted Gretchen Hoffer Farb, Charlotte Hoffer Canning and Alex Hoffer to co-CEO’s following their successful sharing of the company’s leadership after taking the helm in January 2020.
Together as Co-CEOs, they will formally share the responsibilities of the chief executive, collaborating to set strategic business direction, make capital investment decisions and ensure exceptional performance across all domains of the business. The Co-CEO model is designed to facilitate smarter decision-making and lessen the pressures associated with holding this position alone, while allowing the trio to focus on individual priorities and areas of expertise within the business. It also externally creates clarity for customers, emphasizing the equal authority held by each Co-CEO to drive decisions and approvals.
“Gretchen, Charlotte and Alex each bring distinct passions, perspectives and expertise to the table. But they have one crucial thing in common, and that’s a commitment to carrying on the Hoffer family legacy,” said William Hoffer, Chairman of the Board.
The three Co-CEOs (affectionately referred to within the company as G3) have backgrounds that collectively position the company’s leadership to sustain the company’s 70-year success, driving new growth and value:
- Gretchen Hoffer Farb – A CPA with 25 years of accounting experience, Gretchen leads financial accounting, management, and reporting functions; supply chain and procurement; information technology; environmental sustainability; and the Hoffer Foundation. The Foundation provides funding and support for local and national community service, cultural and educational organizations.
- Charlotte Hoffer Canning – Charlotte, who was a foodservice area manager with PepsiCo before joining Hoffer in 2006, leads human resources, facilities management, internal and external marketing, as well as community outreach. She plays a key role in building and fostering strong partnerships with local resources and organizations in the South Elgin community.
- Alex Hoffer – Named a rising star in the plastics industry by Plastics News in 2018, Alex leads sales management, innovation, product development and customer service. He is also responsible for key technical functions of service and delivery to customers, including manufacturing, automation, tooling, and maintenance.
G3 initially took on leadership roles in January 2020 when William Hoffer, then the second-generation CEO, shifted roles to become board chairman. At that time, Gretchen became chief financial officer, Charlotte took the role of chief culture officer and Alex stepped up to chief revenue officer.
The three siblings were tested immediately, working together to steer the company through the COVID-19 pandemic, supply chain disruptions and other unprecedented challenges. Three years later, with Hoffer Plastics stronger than ever, the move to three co-CEOs reinforces the strengths of this sibling triumvirate.
The trio credit a steadfast commitment to the same values as one of the key reasons G3’s shared leadership works so well. The core values of family, integrity, service, and trust have been the hallmarks of Hoffer Plastics since their grandfather, Robert Hoffer, founded the company in 1953. These values keep them aligned on crucial companywide decisions and customer commitments, while their individual domain expertise adds valuable perspective.
“I’m proud of their collaborative spirit, relentless focus on delivering innovative solutions for our customers and, most importantly, the way they embody our core values and support each other every day,” William continued. “I’m confident that the future of the company is secure under their shared leadership and am excited to see where they lead our company next.”