SAUGERTIES, N.Y.—Tower Products, a manufacturer and distributor of pro video and audio equipment here, said President and CEO Jim Veltrie will retire from the company effective Dec. 30.
Succeeding Veltrie atop Tower and its two sales divisions, Markertek and TecNec Distributing will be Chief Marketing Officer Gregory DeCelle.
A 38-year veteran, Veltrie was one of the first hires by Tower’s founder, president and CEO and chairman, Mark Braunstein, in 1987. He was elevated to CEO upon Braunstein’s retirement in 2016.
Tower said Veltrie was an integral part of the company’s consistent growth and stability, establishing long-term, positive business partnerships, leading its transition to an Employee Stock Ownership Plan (ESOP) company, initiating Open Book Management at the company and establishing its executive management team. He also established Core Values and a collaborative culture throughout the organization, Tower said, which proved critical in helping the company navigate the unprecedented challenges posed by COVID-19.
Over Veltrie’s tenure, Tower achieved a significant increase in share value while substantially investing in advanced manufacturing and facility upgrades to support a workforce that grew by 20%, the company said. Veltrie also continued Braunstein’s corporate mission of feeding the hungry by expanding the charitable initiatives of the Markertek Foundation and Markertek Open Charity Golf Tournament, which have donated more than $1 million to the Hudson Valley Food Bank, Tower said.
DeCelle is a 32-year veteran who brings extensive industry knowledge, experience and leadership to his new post, Tower said, and will work with Veltrie to ensure a smooth transition.
In addition to Markertek and TecNec Distributing, Tower is also the parent firm of manufacturing brands Camplex, Sescom, Laird Digital Cinema, Ocean Matrix, Delvcam and My Custom Shop.
