Republic Financial Announces Leadership Changes
Founder positions Republic among fastest growing Colorado companies
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FOR IMMEDIATE RELEASE
Media Contact:
Christian Hawley
Republic Financial Corporation
303-923-2111
AURORA, Colo. - Jan. 17, 2008 - Republic Financial Corporation (Republic), a privately held company with investment interests in a portfolio of diverse assets and entities, announced that as of Jan. 1, its founder and CEO, Jim Possehl, is shifting from his full-time management role as CEO to a part-time strategic advisory position. He will continue his involvement in active management of the company and retain his position as chairman of the board. Randy Dietrich was named as the company's successor CEO.
"Jim's vision and leadership have created an exceptionally successful company based on fair business practices and high returns," says Dietrich. "His business model, combined with Republic's profitable investment history and experienced management team, will keep the company on track to maintain Jim's highly successful record."
In 1971, Mr. Possehl founded Republic as a small leasing company. He later expanded the company into four core businesses with diversified investment strategies. Republic's core business groups include aviation and portfolio, private equity, special assets, and structured finance.
Over the course of his career, Mr. Possehl has been recognized for his strong business foresight and expertise. In 2000, he was awarded the Lifetime Achievement Award by the United Association of Equipment Leasing, and in 2005 he was recognized as Ernst and Young's Entrepreneur of the Year for the Rocky Mountain Region. In addition to acting as chairman of Republic's board, he is very involved in the community and has served as past chairman of the Equipment Leasing and Finance Association as well as past president of the United Association of Equipment Leasing.
Under Mr. Possehl's leadership, Republic recently was recognized for its growth and success. For the past two years, The Denver Business Journal and ColoradoBiz listed the company as one of the Largest Privately Held Companies in Denver and as one of the Fastest Growing Denver Area Large Privately Held Companies. In 2007, Republic was awarded the Ethics in Business Award by the Colorado Ethics in Business Association for conducting its business with honesty and integrity.
"Since 1971, the company has grown and evolved tremendously," says Mr. Possehl. "We built the company from a small-ticket leasing operation with annual sales of $100,000 to a company that has invested in assets valued at more than $1 billion. I am very proud of the company Republic has become thanks to the energy, talents and hard work of its employees."
On Jan. 1, 2008, Randy Dietrich assumed the role of CEO and Bob Possehl assumed the role of president. Since 2000 Mr. Dietrich has served as president, as well as on the company's leadership team. Over his 20-year tenure with Republic, Mr. Dietrich has been instrumental in developing and building the company's business groups and operating companies.
Bob Possehl has served as executive vice president since 2004 and on the company's leadership team since 2001. In his new position, he will oversee Republic's operating companies, as well as the special assets and structured finance business groups.
"I am confident the company will continue to be successful with Randy as CEO and Bob as president," says Mr. Possehl, "and I look forward to continuing my strategic involvement in active management and as chairman of the board."
About Republic Financial:
Republic Financial Corporation (www.republic-financial.com) is a privately held company with investment interests in a diverse pool of operating companies and assets, specializing in aviation, equipment-leasing portfolios, private equity, structured finance transactions, and distressed commercial debt. Since 1971, Republic has invested in assets totaling more than $1 billion, achieving commercial success by developing creative solutions to difficult and complex business situations.