Hartford, Connecticut-based construction supply company NEFCO says current President David Gelles announced that his son Matthew Gelles will be promoted to succeed him as president and CEO next month.
David Gelles will become executive chairman, and his son-in-law Ron Cipriano will be promoted to executive vice president and chief operation officer.
“The new roles are reflective of the extraordinary impact Matthew and Ron have had on NEFCO’s growth and the exceptional confidence David has in these next generation leaders,” the company said in its announcement.
As executive chairman, David Gelles will focus on supporting relationships with NEFCO’s suppliers, driving sales and furthering NEFCO’s larger strategic goals.
“Having started NEFCO in 1981 and led the business as President for the last 41 years, I feel this is the right time to transition to the next generation,” he said. “I am very proud of what Matthew has accomplished over the last 12 years at NEFCO; he has proven himself as a true leader with exceptional vision and ability to execute on his vision. Ron has been a tremendous asset to our leadership team and has provided great counsel and management over the last 12 years. NEFCO couldn’t be in better hands, and I cannot wait to further support our next generation leaders as they continue to grow and expand NEFCO.”