1847 Holdings Appoints Leading Lean Manufacturing Executive as COO
1847 Holdings has appointed Eric VanDam as its new Chief Operating Officer, effective immediately. VanDam, with over 30 years of experience, notably in lean manufacturing through his work with Toyota, aims to support the company's growth and enhance operational efficiency. His expertise includes implementing the Toyota Production System across various industries, including furniture and automotive. CEO Ellery W. Roberts expressed confidence in VanDam's ability to add significant value to 1847 Holdings' portfolio.
- Eric VanDam's appointment is expected to strengthen operational governance.
- VanDam brings extensive experience in lean manufacturing, which may lead to improved efficiencies.
- Potential concerns regarding continuity and the impact of management change on existing operations.
New COO, Eric VanDam, brings 20 years of experience implementing Toyota Production System (TPS) within the furniture, automotive, and agricultural industries
NEW YORK, Jan. 18, 2022 (GLOBE NEWSWIRE) -- 1847 Holdings LLC (OTCQB: EFSH) (“1847 Holdings”), a publicly traded holding company platform that combines the attractive attributes of private, lower-middle market businesses with the liquidity and transparency of a publicly traded company, today announced the appointment of Eric VanDam as its Chief Operating Officer.
Mr. VanDam brings 30 years of experience leading operations from a diverse range of positions and is a lean manufacturing executive leader with a proven track record of both exceeding metrics and creating loyal followership within organizations. Mr. VanDam has worked for over 20 years at companies holding a direct coaching relationship with Toyota implementing the Toyota Production System (TPS) within the furniture, automotive, and agriculture industries.
Mr. VanDam joined Herman Miller in 2000, shortly after the company’s organizational commitment to the lean manufacturing process with Toyota. Building from his TPS experience in the automotive industry, he was developed through the company’s Executive Leadership programs to lead operations across multiple sites during his 16 years with the company, including leading a
“We are thrilled to welcome Eric to the 1847 Holdings team,” commented Ellery W. Roberts, CEO of 1847 Holdings. “Eric has already worked with us on multiple projects where he has provided tremendous value. In his role as COO, he will work alongside our portfolio leadership teams to implement strong governance and help manage the success of our subsidiaries.”
“I am excited to play an important role in the next stage of 1847 Holdings’ growth,” added VanDam. “Ellery and his team have built an impressive track record of success. I look forward to bringing my expertise to the team and working together to build on 1847 Holdings’ strong foundation as we work to capitalize on the wealth of opportunities to create new shareholder value.”
About 1847 Holdings LLC
1847 Holdings LLC (OTCQB: EFSH), a publicly traded diversified acquisition holding company, was founded by Ellery W. Roberts, a former partner of Parallel Investment Partners, Saunders Karp & Megrue and Principal of Lazard Freres Strategic Realty Investors. 1847 Holdings' investment thesis is that capital market inefficiencies have left the founders and/or stakeholders of many small business enterprises or lower-middle market businesses with limited exit options despite the intrinsic value of their business. Given this dynamic, 1847 Holdings can consistently acquire businesses it views as "solid" for reasonable multiples of cash flow and then deploy resources to strengthen the infrastructure and systems of those businesses in order to improve operations. These improvements may lead to a sale or IPO of an operating subsidiary at higher valuations than the purchase price and/or alternatively, an operating subsidiary may be held in perpetuity and contribute to 1847 Holdings' ability to pay regular and special dividends to shareholders.
Forward-Looking Statements
This press release may contain information about 1847 Holdings’ view of its future expectations, plans and prospects that constitute forward-looking statements. All forward-looking statements are based on our management’s beliefs, assumptions and expectations of our future economic performance, taking into account the information currently available to it. These statements are not statements of historical fact. Forward-looking statements are subject to a number of factors, risks and uncertainties, some of which are not currently known to us, that may cause our actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial position. Our actual results may differ materially from the results discussed in forward-looking statements. Factors that might cause such a difference include but are not limited to the risks set forth in “Risk Factors” included in our SEC filings.
Contact:
Ellery W. Roberts, Founder & CEO
1847 Holdings LLC
Office: 212.417.9800
info@1847holdings.com
Dave Gentry, CEO
RedChip Companies
Office: 1.800.RED.CHIP (733.2447)
Cell: 407.491.4498
EFSH@redchip.com
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