It’s been a wild four months for Diamond Comics Distributors, and a new wrinkle arrived today, as a letter sent to staff, vendors and retailers revealed that founder Steve Geppi has added president of Geppi Family Enterprises (GFE) to his portfolio, along with his previous titles, Chairman & CEO.
When I arrived, the infrastructure consisted of 10 warehouses (1.3 MM sq ft) and approximately 700 employees. I was tasked to restructure the company, consolidate all of the brands, and conduct a technology transformation across the enterprise.
With this in mind, Heidmann oversaw a suite of sweeping changes at Diamond and other GPE businesses, including the departure of many longtime Diamond employees and the restructuring of the roles of remaining executives.
In recent months, Geppi had pledged to take a more active role in running Diamond, and with the major comics distributor facing the issue of losing their #2 publisher, DC, we can assume he will need to be very active indeed.
The letter in full below:
Today I am announcing an organizational change that will help us lean even further into the many opportunities to elevate our industry, our business and our brands in this fast-moving and evolving marketplace.
Effective immediately, I am reassuming the role of President, Geppi Family Enterprises (GFE), in addition to my position as Chairman & CEO. Stan Heidmann will be departing the organization. I thank him for his contributions and wish him all the best in his future endeavors.
As you know, I have a strong history of growing and leading this organization for several decades and I am energized about our next phase. I am supported by an exceptionally talented executive leadership team with deep expertise and an unwavering commitment to our industry as well as by the incredible teams they have built. I am proud and privileged to work with such amazing people.
Under my guidance, the executive leadership team will support a comprehensive strategic review to position the enterprise for future growth. I feel a tremendous responsibility to our employees and the industry, and I fully intend to set all Geppi Family Enterprise brands on a path for robust growth. I am confident we have the right leadership with talented teams in place and I see enormous opportunities for GFE.
You will be hearing more from me in the coming weeks as I am committed to keeping you all informed and involved. Be well, and I hope you find some time this holiday weekend to relax and recharge. Thank you for your continued support. I appreciate all you do.