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Contractor and industrial products wholesale buying/marketing group AD, Wayne, PA, last week announced the completion of the transition of ownership from AD’s long-time Chairman & CEO, Bill Weisberg, to the buying group’s distributor members.
Bill Weisberg’s father, David Weisberg, founded the company in 1981. Bill became sole owner and chairman of the group in 1991. Since then, AD has expanded into seven additional wholesale industries, entered Canada and Mexico, and increased member services to include eCommerce, HR and Procurement, the company reports. Additionally, total annual sales for the group’s members increased from $2.9 billion to more than $35 billion and net distributions to group members grew from $31 million to more than $650 million per year.
“[I]t was important to me, as a person who’s spent almost my entire career at AD, that it would transition to people and companies that highly valued our culture, people, strategy and services. I’m very pleased that AD’s members are now our owners and will directly elect AD’s Board,” Bill Weisberg said. “There’s no doubt in my mind that under their direction, the management team and I can continue to serve our members and supplier partners with great distinction and provide fulfilling work, in a positive environment, for our associates.”
According to AD, initial directors of the board are: