Another Schmidt family member is taking on a top post at CG Schmidt
, the Milwaukee-based construction company announced.
The leadership transition includes Rick Schmidt
stepping down as company president. His brother, Eric Schmidt
, will take over that role. Rick Schmidt will remain as chief executive officer and chairman. Eric Schmidt now serves as senior vice president.
The transition will take effect Jan. 1.
According to a news release, the transition means Rick Schmidt will continue to lead long-term strategic planning. Eric Schmidt will meanwhile assume responsibilities for business operations and corporate development.
"Eric is a strong leader, and I’m confident he will continue to fuel our growth in the foreseeable future," Rick Schmidt said in a statement. "He is the right choice as president for the next phase of this company’s history."
Eric Schmidt has worked within the family business for over thirty years. The 101-year-old company is led by a fourth generation of Schmidt family members.
"As president, I will ensure this company continues to change the physical landscape of cities everywhere and of equal importance, creates opportunities for cultural, educational, workforce and economic development for the businesses and communities we serve," Eric Schmidt said in a statement.