Leadership Change at Dearing Compressor

YOUNGSTOWN, Ohio — After 37 years with Dearing Compressor and Pump, including 27 as its president and CEO, Richard H. Dearing is stepping down from his positions effective immediately.

The company announced Dearing’s retirement Tuesday afternoon. He will serve as chairman of the board of directors.

The board unanimously appointed successors, naming Rebecca Dearing Wall as CEO, and Albin Dearing V as president of the 76-year-old family-owned company.

“On behalf of the entire board of directors, management team, and Dearing’s 200 employees, we want to thank Rick for his leadership, impact and dedication serving almost four decades with our organization,” said Wall, spokesperson for the board. “A steadfast and strategic leader, Rick guided Dearing since 1995 after assuming the positions from his father. He cultivated a customer-first culture and grew the business by establishing a highly skilled workforce who never wavered from his father’s strong philosophy that Service was the key to the sale. The board is sincerely grateful to Rick for his dedication to Dearing and wishes him nothing but the best as the new chairman of the board of directors for the company.”

During his tenure, Richard Dearing established the company as a market leader in the engineering, packaging and installation of quality compression equipment, according to the release.

“Having served as my father’s successor as president since December 1992 and as president-CEO since December 1995, I appreciate the trust that you put in me to fulfill these duties,” Dearing said in the release. “I will remain faithful to the company’s success and I will continue to drive the strategic direction and set the mission, vision and values of Dearing from my board position.”

Appointments of Dearing Wall and Albin Dearing are part of a strategic, multi-year leadership development and succession planning process, led by the board, to ensure the integrity, values and direction of the company continue with confidence through the next generation of Dearing family leadership, according to the release.

“With a history of leadership rooted in a rich, family tradition embracing service, reliability, integrity, and innovation as the benchmarks to success, the foundation for success has been laid,” Richard Dearing said. “Rebecca and Albin have exemplified the drive, leadership, determination and understanding of how to drive the company to reach new heights on a global scale.”

Dearing Wall, who has worked at the company since 1981, most recently served as its vice president and chief financial officer, and was instrumental to the financial stability and strategic direction of the organization, according to the release. As CEO, she will leverage the lessons learned from her brother, Richard, while “confidently forging a new path for the company,” the release said.

“When I joined the company in 1981, I could not have imagined the journey Rick and I would take or the deep satisfaction I would feel having been his partner in this family business,” Dearing Wall. “His shoes will be difficult to fill but the continued success of Dearing will always remain my highest priority and I am excited to lead our family’s company into the next era.”

As vice president of operations, Albin Dearing devoted his career to diagnosing problems and finding, providing and executing solid solutions for the company and its customers, according to the release. His implemented business operations and policies help promote the company culture and vision.

“Over my career, I have been mentored and guided by many voices to help me proudly carry on the tradition of leading this company with our family name,” said Albin Dearing, named after his grandfather and the company founder. “I pledge to continue to follow the mission, vision and values our family founded this company upon, ensuring the preservation of the company so that it continues on for generations to come.”

Pictured: Ryan Wilson, Dearing vice president and fourth generation of family leadership at the company, is joined by Richard Dearing, new CEO Becky Wall Dearing and new President Albin Dearing (Image: Dearing Compressor and Pump).

Published by The Business Journal, Youngstown, Ohio.