02 Jan Frank Ptak joins Madison Industries
Former Marmon Holdings Chairman & CEO Renowned as Pioneer of 80/20 Growth Model
Chicago, IL – Madison Industries announced today the appointment of Frank Ptak as Senior Managing Director. Last month, Mr. Ptak retired as Chairman and CEO of Marmon Holdings, Inc., a subsidiary of Berkshire Hathaway Inc.
Mr. Ptak led Marmon’s acquisition by Berkshire Hathaway Inc. in 2008 and subsequently reported directly to Berkshire Hathaway Chairman & CEO Warren Buffett. Marmon Holdings comprises more than 100 autonomous manufacturing and service businesses whose diverse products range from commercial beverage dispensers to railroad tank cars. Marmon has operations in 23 countries with 20,000 employees and revenues of over $8 billion.
During Mr. Ptak’s thirteen-year tenure as CEO, Marmon grew organically by vastly expanding its portfolio of patented products that meet key customers’ most critical needs while also completing $3 billion worth of acquisitions. Mr. Ptak drove sustainable, profitable growth by implementing the 80/20 business model he helped pioneer while Vice Chairman at Illinois Tool Works Inc. (NYSE: ITW).
Madison Industries is one of the largest and most successful privately held companies in the world. Madison builds entrepreneurially driven, branded market leaders that are committed to making the world safer, healthier and more productive by creating innovative solutions that deliver outstanding customer value. The team at Madison is committed to building something truly remarkable that long outlasts them while coaching others to reach their highest potential.