Seamless leadership transitions have been the name of the game for decades at Anchor Industries, Inc. Founded in 1892 with three facilities here and one in Miami, Florida, five generations of the same family have guided the company into being a worldwide leader in manufacturing high-quality tent and pergola products.
“We have the unique honor and privilege of being part of life’s funnest, most magical moments — weddings, corporate events, anniversaries, PGA events, Formula 1 events,” says Chairman and President Pete Mogavero. But he points out that the products have other uses, too: “The fires that you see in Los Angeles (California), they’re using our forest fire shelter here made in Evansville. We’re really proud of the stuff that we do.”
At 70, Mogavero has been with Anchor Industries for about 40 years. His wife, Carrie, is the great-granddaughter of Anchor Industries founder Louis Daus. “I came to the attention of executive management when I married the boss’ daughter,” Mogavero says with a laugh. His children represent the company’s fifth generation: Christen Mogavero, 41, is vice president of sales, while Brad Mogavero, 29, is a buyer in the purchasing department.
Pete says last names never represent a free pass, and keeping a company strong requires tutelage and skill development. He offers his own background as proof — before joining Anchor Industries, he received a Master of Business Administration from Indiana University in Bloomington and worked for the Bank of Detroit and Ford Motor Company in Michigan.
“My father-in-law (the late John Daus) was one of the best bosses I’ve ever had. … He was a real good coach,” Pete says. “I’m very grateful for his leadership, and I’m also thankful that along the way in my maturation, he would tell me where the bodies were buried and say, ‘Hey, we’ve done something like that several years ago. You should know that this is what didn’t go well, and this is what went well.’ So it’s nice to be able to bounce an idea off a coach and have them say, ‘Good idea, but here’s a pitfall for you. Here’s something you should be aware of. If you try it this particular way, you may have more success than what you’re thinking about.’”
Pete, in turn, has tried to be the same type of coach to Christen and Brad, who both graduated from Reitz Memorial High School. In Christen’s case, coming home represented a 180-degree career turn. The alumna of Vanderbilt University in Nashville, Tennessee, previously worked in Washington, D.C., in political campaign fundraising and also for the U.S. Senate Foreign Relations Committee. Arriving at Anchor Industries nine years ago, she held a variety of roles before escalating to vice president of sales.
Outside of her family, Christen says her life influences include former U.S. Sen. Bob Corker of Tennessee, who encouraged her to consider joining the family company. “I have a lot of really great mentors, both in D.C. and now in the company,” she says.
Brad, a graduate of Furman University in Greenville, South Carolina, worked in manufacturing at Anchor Industries before moving to the purchasing department. “I’ve got thousands and thousands of little things to buy, anything from grommets to buckles, you name it,” he says. “After getting my hands dirty on the floor for two years, now I’m finally in the office and just kind of starting the road, learning every day.”
Pete says he’s proud of what Anchor continues to accomplish — citing on-time delivery, the shortest lead times in its industry, high-quality products, and excellent customer service. “It’s a pretty high bar,” he explains, and maintaining that standard requires effective transitions in leadership.
“It can’t be the family welfare role,” Pete says. “Each succeeding generation has to bring something to the party. They’ve got to be skilled in some particular area. As people grow, the corporation grows. You want people in the organization, particularly family members, who have that lust for learning, that unquenchable thirst for getting better. As they get better, the company gets better.”
“We want to make sure that when you turn the reins over to a succeeding generation, that they have the right stuff,” he continues. “My wife and I are really blessed to have two kids in the business now. I think that they will be very successful at taking over the reins one day. Until that day comes, it’s an ongoing job of coaching and training and helping.”
Read more about succession planning at three other businesses.
