HONOLULU, HI, September 26, 2008
/24-7PressRelease/ -- Bob Dewitz, CEO and owner of American Electric Co. LLC, one of Hawaii's largest electrical contractors, has enrolled in the Owner/President Management Program at Harvard Business School starting this fall. The program comprises of a series of intense three-week sessions spread over a three-year period and is crafted to get owner/presidents to focus on big picture issues and growth opportunities. Dewitz, who received his BA in Economics from the University of New Hampshire and his MBA from the University of Hawaii, is looking forward to starting in the program. He said, "I think being in the classroom with other owner-managers from around the world will be enormously beneficial to my planning for the future of the company."
In the last year and a half, Dewitz has grown his firm aggressively through a series of mergers and acquisitions that include Volt Telecom, Summit Electrical and Kona-based firm G-Y Electric Inc. Most recently the firm sold HSI Electric to Electric Boat Corporation, a division of General Dynamics, the nation's leading designer and builder of nuclear submarines. The firm has experienced a four-fold growth in revenues over the past five years, and expects to post nearly $70 million in revenues for 2008.
Commenting on the group's growth Dewitz said, "Structuring this firm for long-term success is one of my top priorities. It will allow us to continue to grow in Hawaii, provide increased job security for our current employees, and create new jobs throughout the Islands." One of the biggest challenges limiting the firm's ability to grow is the shortage of qualified workers on the Islands. As a result, the firm spends a lot of resources on recruiting as well as on-the-job training for its workforce. "I strongly believe that one of the best strategies for growth, as well as for dealing with tough economic times such as those we're facing now is to ensure that workers constantly improve existing skills while learning new ones," Dewitz said.
Asked about who will be running the company in his absence, Dewitz said, "I have an excellent management team that is fully responsible for day-to-day operations. I have great confidence in their ability to get the job done. And should they need me, I'm only a phone call away."
With over 60 years of experience on the Islands, American Electric offers a full range of electrical and telecommunications construction services, from simple maintenance and testing to complex design build projects. The firm is also the only TEGG certified electrical contractor in Hawaii. TEGG is an internationally recognized system of electrical maintenance and testing.
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