Dick DeVos has recently hired a new CEO for the Stow Company Inc. The Stow Company is based in Holland and is part of the WindQuest Group. It specializes in custom home storage products. The previous CEO, Frank Newman, is retiring at the age of sixty-seven, though he will continue to serve on the board of advisors. The new CEO is Phil Dolci, who is 48 years old and has twenty-three years of experience in manufacturing consumer products. Before being hired by Dick DeVos, he was CEO of the Crosman Corporation, a Cincinnati-based company that specialized in producing products for shooting sports.
Dick DeVos is a well-known personality and philanthropist. He once ran for governor of Michigan and was listed as number sixty-seven on the Forbes list of the richest people in the world. He has a bachelor’s degree in business administration from Northwood University. He has also studied at Harvard and Wharton. His wife was the chairperson of the Michigan Republican Party. His wife Betsy (formerly Betsy Prince) has been married to him for thirty-five years and together they had seven children and five grandchildren. He is also a jet and helicopter pilot and a two-time National Champion sailor.
He is the son of the founder of Amway, Richard DeVos. In fact, he took over as the president of the company in 1993. This was a position he held until 2002. Before he was president of the company, he was vice president. Under his management, the company tripled their international sales over their domestic sales. This was the first time that it had happened. In addition, he was responsible for company operations in fifty countries. In his final year as president, before he became president of Orlando Magic, the company reported sales of four and a half billion dollars.