Bailey to retire from IDC-USA
IDC-USA announced that Jack L. Bailey plans to retire as president and CEO at the end of the year.
|Jack Bailey||George Graham|
A succession plan was put in place in 2014 and executive vice president, George Graham, will assume the office of president and CEO effective Jan. 1, 2017. Shareholders of the distributor-owned company were first informed during Bailey’s annual state of the cooperative address.
Bailey, an attorney, represented the IDC as corporate counsel for seven years before taking the helm in 1997. Since then, the independent distributor-owned cooperative has experienced revenue growth over 545 percent. It now represents over 200 distributor locations in the United States and Canada, with IDC Distribution Centers in Indianapolis and Reno.
“My 26 years of involvement with IDC has been a wonderful experience. We’ve certainly come a long way since our humble beginnings in ‘the little red barn,’ Bailey said. “I think what has been most special is the people I’ve come to know and now consider friends. I’m looking forward to the next chapter of my life and think the timing is perfect for someone else to take IDC-USA to the next level. George Graham has tremendous industry experience and a great track record of leading much larger organizations. I can’t think of anyone more suited to guide IDC to new horizons. My focus over the next few months will be to make this transition as smooth as possible.”
"I am humbled by the vote of confidence from Jack and the IDC Board of Directors,” said Graham. “I’ve got some pretty big shoes to fill, but I am very excited about the opportunity. IDC-USA is currently engaged in some tremendous initiatives that I feel will be game-changers in the industry and I’m thrilled to lead that charge.”
Established in 1988, IDC-USA is a distributor-owned purchasing and national marketing cooperative of independent distributors of industrial bearing, power transmission and industry related products. The cooperative is comprised of over 200 independent distributor locations across North America representing over $1 billion in annual sales. IDC-USA's Distribution Center, IDC University and Corporate Offices are headquartered in Indianapolis, Indiana. IDC-USA serves the western half of the United States from its Reno, Nevada distribution center.