Ric Phillips is currently the President and Chief Executive Officer, and Member of the Board of Directors, of Elkay Manufacturing Company, a large privately-held organization located in the Chicago area. Elkay is a leading manufacturer of world-class stainless steel and quartz sinks, in addition to drinking fountains, Smartwell Water Delivery Systems and the award-winning ezH20 bottle-filling stations. Elkay is also a global designer and producer of commercial kitchen equipment and interiors for the foodservice, hospitality, education, and retail market segments including Starbucks, Marriott, McDonalds, and Dunkin Brands. Ric is leveraging his deep experience in strategy and execution to accelerate the company’s commercialization of product innovations while expanding and diversifying the domestic and international markets the company serves. Ric joined Elkay in 2019.
Ric was previously the President & Chief Executive Officer of Essendant, Inc. (formerly United Stationers, Inc.), a Fortune 500 wholesale distributor of workplace items. At Essendant, Ric rebuilt the company’s overall strategy, and oversaw the largest restructuring its history. He delivered performance at or above Wall Street guidance in each quarter in his role, and share price increased by more than 50% during his tenure. He planned, negotiated and announced a major industry-changing merger with a $2 billion competitor. He also navigated the company to a successful transaction which was completed in January 2019.
Prior to his role as CEO, Ric was President of ORS Nasco & Group President of Industrial Portfolio, with responsibility for three Essendant industrial business units totaling about $1 billion in revenue – ORS Nasco (industrial distribution), Medco (automotive aftermarket distribution) and CPO Commerce (B2C e-commerce player in power tools). He was originally recruited to Essendant in 2013 as President of Online and New Channels.
Prior to joining Essendant, Ric was with McKinsey & Company, a global management consulting firm, for 14 years from 1998-2013, and was elected Partner in 2005. He led more than 60 engagements across the globe with healthcare and/or consumer businesses ranging in size from $1 billion to $100 billion.
Ric began his career with Baxter Healthcare Corporation in 1992 as part of a finance rotational program, and served in roles of increasing responsibility, including serving as National Accounts Project Manager, Renal Division.
His Board experience includes serving on the Follett Corporation Board of Directors, Chicagoland Habitat for Humanity Board of Directors, and Indiana University Business School Dean’s Council. He is also a Member of the Economic Club of Chicago.