Sources: Gage Brothers Concrete Inc., Sioux Falls, S.D.; CP staff
The retirement of Tom and Fred Gage from the board of directors marks the first time in Gage Brothers’ 101-year history that no founding-family member will be involved in decision making for the concrete operation. Their departure was effective at the close of the 2016 board meeting, which saw longtime company president Tom Kelley elected chairman. Immediate predecessors Fred Gage (2009-2016) and Tom Gage (2006-2009) are the grandsons of company founder William Gage.
“[Fred Gage’s] knowledge of the company, its culture and its unique role in the precast concrete marketplace has been invaluable to me and the executive team as we transformed this company,” says Kelley, who chaired the Precast/Prestressed Concrete Institute in 2013. “All of us will miss having him on the Board, but we know he remains a passionate and loyal supporter of the company.”
“It was a great gift from the Gages to all of our employees to be given the company, as opposed to selling the company on the open market,” he adds. “It enabled us to maintain both our brain trust and our culture, which will be a valuable component to our future success.”
Joining Kelley on the Gage Bros. board are Secretary/Treasurer David Honner, Chuck Smith, Joe Bunkers and Loren Koepsell. They oversee a precast/prestressed operation with a payroll of 250 and annual sales exceeding $30 million.