I have been blessed to be on some great teams, and the Exchange has been no exception. Since 2012, you have fought the good fight for service members and their families.
Each new year offers an opportunity to reflect on where we have been, where we are going, and perhaps those who inspired us. To start 2017, please allow me to share some memories of someone who shaped my approach to work, people and life—my grandmother Marguerite “Daisy” Counter.
Daisy’s family ran a successful business that employed hundreds of people 30 miles north of Buckley AFB in Brighton, Colorado. After a string of family illnesses, Daisy found herself widowed, raising three children and, as of 1936, the president of the Ft. Lupton Canning Company (Colorado’s largest cannery at the time).
Marguerite “Daisy” Counter.
Daisy understood leadership is about taking care of people. She was a pioneer in terms of employee benefits, establishing a stock ownership program and pension plan when very few companies did so. Daisy was completely committed to her extended work family and always willing to go above and beyond to support them.
According to the book Colorado and Its People: A Narrative and Topical History of the Centennial State, Volume 2, Daisy established a “splendid” reputation for her “sterling business integrity.”Daisy ran the family business successfully for 36 years until her death in 1972. She would prove a hard act to follow.
Watching the family business close its doors taught me that planning for the future is critical to taking care of the employees of a business.
It was what happened in the aftermath of her passing that compelled me to devote my life to assisting troubled companies and the people they employ. After Daisy’s death, the business fell on hard times. Both Bird’s Eye and Jolly Green Giant came calling with offers to co-invest in upgrading the company’s production capabilities. Unfortunately, management thought “business as usual” was good enough and failed to invest in retooling the factory to produce frozen foods. This unwillingness to innovate would prove to be a fatal error. Ft. Lupton Canning ceased to be relevant. Sales significantly declined, the company was sold to a buyout firm that liquated the assets, laid off the employees and put the cannery into bankruptcy.
Watching the family business close its doors taught me that planning for the future is critical to taking care of the employees of a business. These lessons prepared me to assist Wise Foods, Hanover Direct, Barneys New York, Macy’s and now the Exchange in becoming more financially secure and better prepared to weather adversities. Those whom I had the honor to serve alongside are the reason I approach each turnaround with a sense of urgency – in order to maximize the well-being of the organization and its people.
I have been blessed to be on some great teams, and the Exchange has been no exception. Since 2012, you have fought the good fight for service members and their families. DoD leadership fully understands the Exchange’s role in strengthening readiness and resiliency as we continue to make significant headway to increase support for military Quality-of-Life programs including Army Child Development Centers, Youth Services and fitness centers, Air Force Outdoor Recreation, combat uniforms, overseas school lunches and more.
Extending respect and dignity to all associates while being mindful of what is best for the Exchange has been key to achieving results on par with that of Wal-Mart and Target.
Thanks to you, the Exchange has a compelling relevancy story that underscores how a focus on business disciplines ultimately puts people first and pays dividends for those we serve and our Nation. In less than five years, we have made the customer experience in our Main Stores significantly better, brought first-run movies to theaters in the continental United States, enhanced the healthy “Be Fit” grab and go assortment in our restaurants and Expresses, provided added convenience online, continued to take the benefit to contingency locations and secured many other significant accomplishments.
In fiscal year 2015, we achieved a high water mark as our earnings percent exceeded 4.7% with $402 million on a $8.5 billion sales base. This afforded us the opportunity to provide a team award to all associates. Fiscal year 2016 is ending strong despite the headwinds of retail transformation and a dramatic shift by our customers to online shopping and increased use of mobile devices as compared to brick and mortar visits. Extending respect and dignity to all associates while being mindful of what is best for the Exchange has been key to achieving results on par with that of Wal-Mart and Target. We will be steadfast in providing more than $200 million per year in support of the dividend and Quality-of-life programs for troops and their families.
Unlike the people who took over Daisy’s beloved cannery, we are focused on the future. As we have undertaken significant cost reductions, we continue to aggressively seek opportunities for further improvement. This coming year, we will continue working to gain concurrence to proceed with a Veterans Online Shopping Benefit to bring approximately 15 million additional authorized shoppers back to their military community through ShopMyExchange.com. This and other game-changing programs will ensure the long-term health of our amazing organization.
Your dedication to continuous improvement, selfless service to “the best customers in the world” and mutual support and respect for your teammates are daily reminders of my grandmother’s values. We are battle buddies, Wingmen and, most important, family serving family. As we enter our 122nd year of service and support, there is nothing we cannot do together in 2017 and beyond.
Deeds Not Words! Soldier for Life!
Tom Counter Shull
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