SALT LAKE CITY, UT / ACCESSWIRE / December 4, 2023 / John M. Laviter, chairman of Northpoint Asset Management, Inc., announced last Friday, December 1, 2023, that after 18 years leading the company, he would step down as chief executive officer. The announcement was made at Northpoint's annual Christmas celebration, held at the Little America Hotel in downtown Salt Lake City, where the company's board of directors and senior leadership gathered.
Mr. Laviter named Adam R. Haleck, his long-time business partner, as successor and the company's new CEO. Mrs. Candice Kinard, a regional director from Kansas City, Missouri, was also promoted into the company's executive leadership.
"I will step down as CEO and transition the leadership of the company to Adam and the executive committee," said Mr. Laviter. "I never imagined Northpoint would accomplish so much," he continued. He explained in his address that the company had defied all the challenges it faced and succeeded in becoming a predominant leader in the industry.
Mr. Laviter said that the time had come for others to lead the company into the future. "It has been one of the great opportunities of my life to lead Northpoint. I believe it can grow much larger in the hands of the right capital investors and company leadership," he continued. But he warned that the company must not allow pervasive trends in society to overcome the positive and sound-thinking culture. Further, he advised Mr. Haleck to keep "operations tight" and to align the business strategy in concert with future economic conditions.
During the last year, Mr. Laviter and Mr. Haleck have entertained partnerships with new private-equity investors. "We believe these investors can be instrumental in the next stages of Northpoint's growth and development," said Laviter.
Mr. Haleck is looking forward to leading the company. "I think our industry has a long-tail wind, and Northpoint was amongst the earliest to engage in a national platform."
Northpoint, founded in 2006, has operations in 44 cities in 23 U.S. states. In 2023, it had approximately $178 million in sales.
During Mr. Laviter's closing remarks, he said "of the noteworthy accomplishments these last 18 years, I'm most proud of my people." He expressed his contentment in working with them, many of whom have been with the company for more than a decade.
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SOURCE: Northpoint Asset Management
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