It is said that the only constant in life is change, and while that is certainly true of the technology we work with, it is also applicable to the people in the industry. Custom installation has a history of creating “lifers,” those who work in the field for decades, but even the lifers drop out eventually.
This year has seen quite a few “transitional” announcements in the industry — retirement seems like the wrong word for people we know will be continuing in other roles. And in leaving their leadership roles, they make room for other transitions within the industry. All of which is a very healthy sign that the business is strong and will keep evolving. Still, doesn’t mean they won’t be missed.
In February, D-Tools announced that, after more than a decade as CEO, Randy Stearns would “downshift” from the role, but remain actively involved to ensure a smooth, orderly handoff.
Back in March, Kimberly Lancaster, founder and owner of Caster Communications, announced that she would be selling her company to two long-time employees — Alexandra Crabb and Peter Girard — and that she would stay on through the summer as part of the planned transition. Kim is the subject of our first “Exit Interview,” which is where you can get her thoughts on why she sold, how the transition plan came to be, and what’s next for her.
In May, CEDIA announced that CEO Daryl Friedman informed the Board of his plans to retire in 2027. He has committed to stay through his successor’s onboarding to ensure there is no interruption to the programs and services currently underway.
And just a few weeks ago, HTSA leader Jon Robbins announced that he is stepping away from the role after December 31. The announcement said in no uncertain words that Jon is not retiring and will continue his career in the industry in a way that will be defined later.
Each of these people looms larger than life in their businesses and our industry, but their common throughline is that they all have a plan in place to make sure their businesses, group, or association has minimal disruptions.
In speaking with Kim, she explored various options before landing on the one she saw as perfect for her business, and that was to “keep it in the family,” so to speak, and leave it in the hands of people she trusts.
That is the model we see in custom installation businesses. Many are family-owned, where the succession is obvious. Others, like Xssentials, which was a three-person-owned business that sold to six long-time employees, find the answer in their own ranks. Still others look to sell the business to other integration firms or join a franchise such as Daisy.
The idea is to start thinking about it early on, so that it can be as seamless as possible when the time comes.
Like these other legends, it doesn’t mean you won’t be missed, but that the business can continue on and on and on.
