After a weekend retirement celebration to mark a 42 year career with the company, Ideal Industries, Sycamore, Ill., announced that David Juday will retire as chairman of its board of directors, effective immediately, as part of a planned succession program. Juday has been Ideal’s chairman since 1984, and will continue as a director on its board. Jim James, the company's current CEO and vice chairman, has been appointed chairman.
"We would like to thank Dave for his commitment of time, support, friendship and leadership that has helped make Ideal what it is today," said James. "Ideal is a stronger company, poised for future success and long-term sustainability, because of Dave's vision and stewardship."
Under Juday Ideal evolved from a regional manufacturer primarily known for its Wire-Nut wire connectors to one of the world's largest makers of contractor-grade tools, testers and supplies used by electricians, data communications installers and industrial maintenance professionals. The 6,000 SKUs under the Ideal brand are now sold on five continents.
Juday was instrumental in an aggressive acquisition strategy that in the past decade has brought companies including Anderson Power Products, Casella Measurement, SK Hand Tool, Western Forge, Pratt-Read, and Trend Communications.
"Not many people have a chance to invest in a career that is so laden with tradition and at the same time so dynamic and promising for the future," said Juday. "We can imagine that what my granddad started, my dad and the larger family continued, and what I and the rest of the family have worked at for the last 40 plus years will provide the fifth generation of shareholders with the same opportunity my granddad provided me: a chance to spend a meaningful career at a company whose values reflect those of the founders."
Juday is the grandson of J. Walter Becker who founded Ideal in 1916. Juday’s father, Eugene "Tug" Juday, preceded him as chairman.