LCI Leadership Transition
LCI Industries announces Jason Lippert's retirement as CEO; Jonny Sirpilla named interim leader
Anonymous
LCI Industries announced that Jason Lippert has retired and stepped down as president, chief executive officer, and a member of the board after 32 years with the company. The board appointed independent director Jonny (Johnny) Sirpilla as interim CEO effective immediately, and Lippert will remain available in an advisory role for one year to support the transition. LCI Industries said it will conduct a search for a permanent CEO and expects to consider both internal and external candidates. Separately, the board named Virginia “Ginnie” Henkels as chair of the board, succeeding Tracy Graham, who left the board after 10 years of service. Sirpilla brings more than 35 years of executive and leadership experience in the RV and outdoor recreation industries, and Henkels has held senior financial leadership roles and board governance experience across public companies. The company emphasized that the leadership change is part of its long-term succession planning while it works to maintain its growth strategy.
Key Points
1
LCI said Lippert led the company as CEO since 2013 and had served in “a wide range of leadership positions” at LCI and its subsidiaries before becoming CEO in 2013.
2
In its announcement, the LCI board said it is committed to “identifying a leader with the operational know-how and perspectives who can build on LCI Industries’ strong foundation to drive the Company’s next phase of profitable growth,” adding it is pleased Sirpilla “will keep a steady hand on the wheel throughout this transition.”
3
Sirpilla’s background includes serving previously as President and Chief Business Development Officer of Camping World and Good Sam, in addition to his more than 35 years of RV/outdoor recreation experience.
4
The company attributed major growth to Lippert’s tenure, saying LCI grew from about $125 million in annual revenue to more than $4 billion in annual revenue under his leadership.
5
LCI also noted Henkels has served on the board since 2017 (with more than 18 years of board governance experience) and previously was Chief Financial Officer of Swift Transportation Company.
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