In 2014, Hemco reorganized its management structure and implemented the EOS Management system. This allowed the leadership team to make some vital product development changes.
Like many of its peers, Hemco found itself facing adverse market conditions in 2015 and 2016, with the oil and gas market struggling. In addition, local competitors began to steal market share from its staple gangway products. The company knew it needed to evolve, but it wasn’t set up to do so, with all leadership responsibilities falling on its CEO.
In 2014, Hemco hired Stephen Nunes as CFO, who promoted an executive marketing director, production manager, engineering manager, and chief operations officer, giving CEO Rich Bevis “the much-needed time to strategically grow the company.” Hemco’s leadership team also implemented the Entrepreneurial Operating System® (EOS), a management methodology that helped the team manage and communicate more effectively and clearly identify and solve the company’s most pressing problems.
With Rich and Hemco’s supporting leadership team now freed up to focus on the bigger picture, Hemco released its new Titan Gangway model in 2015, which was offered in steel while all of Hemco’s competitor models at the time were being offered in aluminum. In addition, and probably most importantly, Bevis decided to keep the Titan Gangway in stock so that Hemco could offer 24-hour shipping, which at the time nobody was offering. The 24-hour shipping and steel-constructed Titan Gangway was a huge success.
CEO Richard Bevis passed away in 2016. Jared said, “Rich Bevis was the heart and soul of this company, and we truly felt lost when he passed away in 2016; but he instilled a culture that taught us to come together when times are tough and fight to be the best we can be both personally and professionally. Because of this culture, our small organization was able to overcome the oil and gas industry fallout, and it gave us the determination to not give up even though we're up against some extremely large competition.”