STEVE VAN ANDEL APPOINTED AMWAY CORP. CHAIRMAN
ADA, Mich., July 27 /PRNewswire/ -- Amway Co-founder Jay Van Andel Jay Van Andel, (b. June 3 1924 - d. December 4 2004) was an American businessman best-known as co-founder of the Amway Corporation; he was born in Grand Rapids, Michigan. today announced that he will be stepping aside and his eldest son, Steve Van Andel, has been appointed to succeed him as Chairman of Amway Corporation effective September 1, 1995. Jay will be working closely with Steve to transition the duties of Chairman over the next several months.
Jay Van Andel will assume the title of Senior Chairman and will continue as a member of the Policy Board and an advisor to the new management team. The succession of Steve to the position of Chairman is in keeping with the co-founders' long-standing desire for the second- generation DeVos and Van Andel family members to assume leadership responsibilities. This step now completes the transition.
Jay Van Andel, 71, has been Chairman of Amway Corp. since co- founding the business with Rich DeVos in 1959. DeVos announced his retirement in December 1992 and was succeeded by his son, Dick DeVos Dick DeVos (born Richard DeVos, Jr. October 21, 1955) is a businessman and Republican politician from Michigan. The son of billionaire Amway co-founder Richard DeVos, he served as CEO of the multi-level marketing consumer goods distribution company from 1993-2002. , as Amway President. Rich DeVos also continues to be a member of the Amway Policy Board. Steve Van Andel, 39, was Chairman of the Policy Board Executive Committee prior to his appointment as Chairman of Amway Corp. Jay Van Andel and Dick DeVos, President, also announced the formation of Amway Corporation's Office of the Chief Executive. This office will be occupied by Dick DeVos, President, and Steve Van Andel, Chairman. They will be working closely together to lead the day-to-day operations of Amway.
Jay Van Andel said, "I'm happy to see Amway continue as a family led organization. Betty and I are pleased that all eight of the Van Andel and DeVos second generation participate in guiding Amway's future through their participation in our Policy Board. Rich and I have always realized the importance of continuing our tradition as a family business. I'm pleased that my son Steve will succeed me as Chairman, contributing his talents to the continuing success of Amway. As Rich and I step back from day-to-day responsibilities, we're confident that the second generation will carry on the principles and values that are the foundation of this unique company."
Rich DeVos said continued family leadership will ensure that the legacy of his partnership with Jay Van Andel will continue. "Jay and I have been friends and business partners for more than 50 years. That's a rare achievement in business, but we're confident that Dick and Steve will work together in the same spirit of this partnership. I've watched Steve grow in the Amway business. I'm confident he has the experience and ability to capably succeed Jay," DeVos said.
Amway President Dick DeVos welcomed Steve Van Andel's appointment and the opportunity to work with him in his new position as Chairman. "Steve and I have a long-standing and special relationship. I'm confident we will continue to build on the success Amway has enjoyed for 36 years. Our respective talents will complement each other as we work to carry on the Amway tradition."
Steve Van Andel pledged his commitment to preserving the values instilled by the Amway co-founders. "I realize my responsibility to Amway's more than two million distributors and 12,500 employees around the world to protect the values and ideals that my father and Rich DeVos instilled in this business. I'm well aware of their tireless efforts in building the business and their dedication to offering the Amway opportunity to a growing number of people worldwide. I'm honored and privileged to work with Dick DeVos and the Amway Policy Board to continue this legacy of partnership and leadership."
The appointment of Steve Van Andel follows other developments that continue the family leadership of Amway. In June 1992, Amway formed the Policy Board, Amway's governing body, consisting of Jay Van Andel, Rich DeVos, and their family members: Nan Van Andel, Steve Van Andel, Dave Van Andel, Barb Van Andel-Gaby, Dick DeVos, Dan DeVos, Cheri DeVos- Vander Weide, and Doug DeVos and in January of 1993 Dick DeVos succeeded his father as President.
As another element of Amway's ongoing management transition to second generation family leadership, it was announced to Amway management that Thomas W. Eggleston, Chief Operating Officer Chief Operating Officer (COO)
The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Amway since the fall of 1992, will step down from that position. Eggleston will continue as Chief Executive Officer and a Director of Amway Asia Pacific Ltd. (NYSE NYSE
See: New York Stock Exchange : AAP; ASXC: AMW AMW America's Most Wanted (TV show)
AMW Air Mobility Wing
AMW Amphibious Warfare
AMW Ask Me Why (Beatles song)
AMW Angewandte Medienwissenschaft (German: Applied Media Studies) ), the exclusive distribution vehicle for Amway products in Australia, China, Macau, Hong Kong, Malaysia, New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. , Taiwan and Thailand.
Entrepreneurs and partners since their discharge from the Army Air Corps after World War II, Jay Van Andel and Rich DeVos started Amway in 1959 in their homes with the direct sale of a single household cleaning product and within three decades built their business into a multibillion dollar international corporation. They developed the person-to-person approach to distributing products that has become the model for the growing direct selling industry.
Beyond his success in business, Jay Van Andel is well known for his leadership and generous contributions in his hometown of Grand Rapids, service to his country, and scores of distinguished business and humanitarian awards and honorary degrees. He was Chairman of the U.S. Chamber of Commerce, U.S. Ambassador and Commissioner General for the Genoa Expo '92 World's Fair, and the Capital Campaign Chairman for the new museum center in Grand Rapids that bears his name.
In addition to his new position as Chairman of Amway Corp., Steve Van Andel retains his current positions as Chairman of Amway Asia Pacific, Ltd. and Vice Chairman of Amway Japan Ltd. His previous positions at Amway have included Vice President - Americas, Vice President of Marketing Worldwide, and Vice President of Marketing for North America.
He also is director of the boards of the John Ball Zoo Society, the Metropolitan Foundation, Metropolitan Hospital, Michigan National Bank Michigan National Bank was established on 31 December 1940 when Howard J Stoddard consolidatied six Michigan banks: First National Bank and Trust Company of Grand Rapids, First National Trust and Savings Bank of Port Huron, Lansing National Bank, Battle Creek's Security National Corp., and the Amway Environmental Foundation, and a member of the Seidman School of Business Dean's Advisory Board.
Steve Van Andel is a graduate of Grand Rapids Christian High School Grand Rapids Christian High School (GRCHS) is a parentally-controlled, private, intentionally-Christian secondary school in Grand Rapids, Michigan. Founded in 1920, "Christian High" is a member of Grand Rapids Christian Schools and Christian Schools International. , received his bachelor's degree in economics and business from Hillsdale College, and his MBA in marketing from Miami University in Oxford, Ohio. He and his wife Cindy have been married since 1978 and reside in Ada, Mich.
Amway Corporation is one of the world's largest direct selling companies, with sales at estimated retail of $5.3 billion for the fiscal year ending August 31, 1994. More than two million independent Amway distributors in some 70 countries and territories sell Amway home care, personal care, health and fitness, home tech, and commercial products, another 6,500 brand-name products through the Amway PERSONAL SHOPPERS Catalog, and a variety of services. Amway has more than 12,500 employees worldwide.
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/CONTACT: Kimberly A. Bruyn, 616-676-7603, or Beth Dornan, 616-676-6445, or investor relations Investor relations
The process by which the corporation communicates with its investors. contact for Amway Asia Pacific or Amway Japan Ltd., Holly Clemente, 212-836-4850, all of Amway/
CO: Amway Corporation ST: Michigan IN: SU: PER
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R.Thangapandian (Member): Direct business or Job-reg 8/10/2010 11:45 AM
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