EAST DUBUQUE, Ill. — Crescent Electric Supply Company, one of the nation’s largest independent distributors of electrical hardware and supplies, today announced that President and CEO, Penny Cotner, has informed the Board of her intention to retire in April of 2027. Cotner will remain fully engaged as CEO through April and will work with the Board to support a smooth transition to her successor.
“This is a deeply personal decision, driven by a shift in my own circumstances that caused me to think carefully about the next chapter. After considerable reflection, I’ve concluded that this is the right time to begin a thoughtful transition from the CEO role at Crescent,” said Cotner. “My priority now is to drive the momentum we’ve built and position the company and its next leader for continued success.”
“Penny has led Crescent with energy, discipline and a deep commitment to our employees, customers and supplier partners,” said Mike Sullivan, Board Chair. “We respect her decision and appreciate the substantial notice and care she is bringing to the transition. Crescent has important work underway and we remain focused on maintaining that momentum while identifying the right leader for the company’s next chapter.”
The Board will conduct a national search for Crescent’s next President and CEO. The timing of Cotner’s retirement gives the Board time to approach the search thoughtfully while the company maintains focus on its customers, employees, and supplier partners.
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