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Changing of the guard at Ace

Accolades for Chairman Jim Ackroyd as his term on the board expires.

BY HBSDealer Staff

Orlando, Fla. — Jim Ackroyd, the CEO of 14-store Vision Ace Hardware in South Florida, joined the Ace Hardware board in 2008. Here at the Ace Hardware Convention general session, he said his goodbyes as his term came to an end.

Ackroyd is being replaced as chairman by Brett Stephenson, an Ace dealer with four stores in Colorado and two in Wyoming.

Ace CEO John Venhuizen had high praise for Ackroyd’s tenure, describing him as “a great board member and a great chairman for Ace.” He backed up those words with hard numbers of growth since Ackroyd joined the board.

Since 2008, the company’s assets increased from $1.2 billion to $2.2 billion; revenue increased from $3.8 billion to $6.0 billion. Net income increased from $85 million to $170 million.

“Look at the scoreboard,” said John Venhuizen. “Jim has been a great chairman for Ace.”

Ackroyd’s business acumen is also reflected in the success of his own stores. Since 2008, Vision Ace in South Florida increased from 9 stores and $24 million in sales to 14 stores and $50 million.

Ackroyd said it was a blessing to be involved with the board for 11 years, and it was particularly rewarding to witness Ace’s dedication to fundraising for the Children’s Miracle Network of hospitals, and also to witness the co-op’s response to communities struck by natural disasters.

“I believe this company is in a very good place and is in very good hands,” Ackroyd said. “We have plenty of challenges ahead, but by working together we can and will win.”

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