P&Q: Tell us how you prepared to become the fourth-generation leader of Luck Companies during your time at the company.
Luck: We have a very robust succession program across our company. Dad was thinking about succession all the time for his role, just as our other senior officers were thinking about succession for their roles.
When I came into the company, Dad was saying that 10 or 12 years from now he wanted to be stepping into a different role. He was saying: ‘When 10 or 12 years get here, I want to be able to select from a potential pool of two or three people.’
He said: ‘Richard is starting in the company. I want him to have every opportunity to be one of those candidates, and we need to craft a development plan to get him all the experience he needs to be ready technically, and with leadership to be one of those candidates. He has to show up, work, lead and execute to push him to the next level.’
Dad’s thoughtful orientation was key for me, because I knew the whole time I was on a path to gaining exposure to everything I’d need for that role. But what was most meaningful was how much the company was invested in my success and how much our associates genuinely wanted me to succeed.
P&Q: What does it mean to you to arrive at this point and be named president of Luck Companies?
Luck: This has been a lifelong goal and dream of mine, but the dream wasn’t to have a title or to sit in this role. The dream is to be the steward of what we created here.
When we think about our family, Luck Stone or Luck Companies, it’s really our medium to make a difference in the world. That’s why we have a mission of ‘Igniting Human Potential.’ The company is our vehicle to activate ‘Igniting Human Potential.’
I feel such a sense of responsibility to steward our mission; to keep our culture strong; and to make sure those are always our ‘North Star’ – but then to build upon it, continuously improve and do it with more people. That’s unbelievably exciting to me, to our family and to everyone within our company.
P&Q: In addition to your transition, there are other transitions occurring within your leadership team. Can you share more about those?
Luck: My dad had a really strong senior leadership team around him, but they’re all thinking about the next phase of their life. Dad and his peer group are all entering this retirement window in the next two years, so people like John LeGore (former Luck Stone president), John Pullen (former chief growth officer), Roy Goodman (former chief financial officer), Wanda Ortwine (chief family officer) – our chief senior officers who’ve been around him a long time are retiring within a two-year period.
The thing we’re super proud of is that we saw this coming a decade ago. Ten years ago, we became very intentional with our succession planning work. We hired people who could grow into those roles. We identified internal candidates who could grow into those roles.
Looking at myself and my future team, we have a group of experienced individuals stepping into leadership roles, bringing a wealth of knowledge, and a strong commitment to the long-term success of our organization. I cannot believe that we have leaders who are as values-aligned as they are, leaders who believe in our mission and culture, and leaders who are technically as talented as they are. That is just so exciting.
Related: Luck Companies unveils $450M expansion plan in South Carolina
