CEO says companies should challenge long-held ‘truths’
Schneider Logistics used to tell new drivers for the trucking company that they would crash in the first 90 days. And they did. Chris Lofgren, president and chief executive officer of Green Bay-based Schneider, said once the company stopped saying that to new drivers, crashes stopped happening.
Lofgren delivered the keynote address at a breakfast Wednesday morning celebrating the annual Deloitte Wisconsin 75, which recognizes the state’s largest privately and closely held companies. The program is co-sponsored by the Milwaukee Journal Sentinel.
His message: Truths a company holds can limit its success.
Lofgren’s company has needed to challenge the truths it believes to change its culture. Lofgren said it was especially evident after Schneider went public. It raised $288 million in its initial public stock offering in April.
“Maintain values and sense of purpose,” he said. “Be willing to change everything else.”
Lofgren shared how it was like he “was saying the Earth revolved around the sun” when it was suggested that Schneider stop having the familiar orange trucks exclusively in its fleet. Having the orange trucks caused the company to lose thousands when selling old trucks on the used market, he said.
He urged companies to maintain integrity in their work, emphasizing not just what companies do, but how it’s accomplished.
“What you do shouts so loudly, no one can hear what you’re saying,” he said.
Six companies also were recognized with Distinguished Performer Awards Wednesday.
» Zilber Ltd. for community.
» CG Schmidt Inc. for diversity.
» CUNA Mutual Group for innovation.
» River States Truck and Trailer Inc. for succession.
» Masters Gallery Foods for sustainability. » La Macchia enterprises for talent.
Combined, companies in the Wisconsin 75 earned more than $107 billion in revenue in 2016, up from $50 billion in 2008, according to the Deloitte survey. The largest industry represented in the program is manufacturing, generating more than $20 billion in revenue.
The survey also found the top three strategic priorities for the Wisconsin 75 companies in the next 12 months are increasing sales in existing markets, new market expansion and technology.