IBT, Inc., Shawnee, Kan., announced key changes to its business entity structure and associated organizational leadership responsibilities.
“As our business portfolio has grown, so have the demands to scale up our management focus and desire to accelerate growth, both organically and through increased acquisitions. To support these record growth demands, our new portfolio company was created on April 1 of this year, and is now formally recognized as Cumulus Companies, Inc. (CCI),” says Michael Flannery, president and CEO.
CCI is defined by four separate companies within three growth platforms—industrial distribution, conveyance belting products and aerospace parts manufacturing—and will be led by Flannery.
As a result, Jeff Cloud was promoted to president of IBT Industrial Solutions, CCI’s largest company.