» Kesslers president:
Kessler to remain chairman, CEO
Kesslers Diamond Center Inc. says banker Joe Gehrke will join the company as president.
Kesslers Diamond Center Inc. said Wednesday that banker Joe Gehrke will join the company as president.
He succeeds founder Richard Kessler, who remains chairman and chief executive officer of the Germantown-based company.
Gehrke comes to Kesslers from from Associated Bank, where he worked in commercial banking for the past 17 years. During his tenure, he provided financial guidance and services to variety of corporate customers, including Kesslers Diamonds.
“Joe has been a trusted advisor of Kesslers Diamonds for several years,” Richard Kessler said in a statement announcing the transition. “His understanding of our business coupled with his appreciation for our culture make him uniquely qualified to take on this important role in our company.”
In 2011, Kesslers Diamonds transferred ownership of the company to its employees with the formation of an employee stock ownership plan. Last year, the company formed a succession committee composed of Kesslers Diamonds employee-owners and two external advisers, including Gehrke, to discuss future leadership of the company.
“We wanted to define the characteristics of the next president. Our final description fit Joe to a T,” Kessler said. “He has a wealth of financial knowledge, understands how businesses operate and appreciates the importance of providing value to customers, which is something I experienced first-hand working with Joe the past several years.”
The company said that although Gehrke wasn’t looking to leave the bank, he appreciated the opportunity move beyond the role of financial adviser to running a business. As president, he will help build the company’s executive team and its growth strategy. Gehrke hopes to open additional diamond centers and grow sales revenues.
The company has diamond centers in Germantown, Brookfield, Appleton, Greenfield, Madison and downtown Milwaukee, as well as Grandville, Mich.
“I’ve had the benefit of an aspired career at Associated Bank, which has a similar culture to Kesslers Diamonds,” Gehrke said. “Both organizations are focused on growing their businesses in a manner that benefits their customers, employees and the communities they serve.”
John Utz, Milwaukee market president and head of corporate banking for Associated, said while Gehrke will be missed, “I am excited for Joe’s future.”
The company said that as CEO, Kessler will remain very active in the business, including continuing as the voice of Kesslers Diamonds in the company’s radio ads.
Gehrke, a native of Michigan’s Upper Peninsula, lives with his wife and three daughters in Grafton. He holds a bachelor’s degree in finance and economics from the Haworth College of Business at Western Michigan University.