MINNEAPOLIS — G&K Services’ Jeffrey L. Wright will retire as the company’s executive vice president and chief financial officer, continuing in his current role until June 2014 to ensure an orderly transition, the company reports.
The uniform rental and facility services company is searching for his successor, considering both internal and external candidates.
“I am grateful for the opportunity to have been a part of G&K Services, working together with such a talented team,” says Wright. “After thoughtful consideration, I have determined it is the right time to make this decision. The company is on sound footing, and has a bright future ahead. After working to support a smooth transition, I look forward to spending more time with my family and pursuing other professional and personal interests.”
Wright joined the company in 1999 and has served as CFO for nearly 15 years, according to G&K. He was promoted to executive vice president and was appointed to the company’s board of directors in 2009.
In addition to leading G&K’s finance division, he also led its GKdirect direct sale business, and oversaw the company’s cleanroom business and information technology department.
He’s contributed “significantly” to the company’s growth, says G&K, with “strong cash flow a consistent characteristic” during his tenure, with shareholders “enjoying a 15-fold increase in dividend payments.”
Outside the company, Wright served as chairman of the Textile Rental Services Association (TRSA) in 2008-2010.
“It has been my privilege to work alongside Jeff. He is a leader who truly personifies G&K’s core values,” says CEO Douglas A. Milroy. “Jeff’s leadership has been instrumental to G&K’s success. He has built a strong team and helped develop a companywide culture of financial and operational discipline, which will benefit G&K for years to come.”
Have a question or comment? E-mail our editor Matt Poe at [email protected].