Melinda R. Rich has been named chairman of Rich Holdings Inc. She succeeds her husband, Robert E. Rich Jr., who has been named senior chairman.
Rich has been with Rich’s since 1985 and has held various roles as part of the leadership team, most recently as vice chairman. She also has served as executive vice president of innovation and chaired the board’s finance and audit and compensation and organization committees, and was executive vice chair of Rich Entertainment Group and is a member of the corporate board of directors and the compensation and human capital committee for M&T Bank Corp. Prior to joining Rich’s she was worked at Westwood Pharmaceuticals and Levy, King and White Companies, Inc.
She is a member of the Cleveland Clinic board of directors, the board of trustees for Cleveland Rock & Roll, Inc./Rock & Roll Hall of Fame Museum and an adviser on BDT Capital Partners LLC’s advisory board.
“This decision was made after years of very deliberate and careful planning,” Rich says. “Intentional succession planning is a crucial part of fostering a robust leadership pipeline — especially in a family-led company like ours. We expect and demand that our senior leaders actively participate in this kind of forethought, and we hold ourselves accountable to the same expectations as stewards of Rich Products and our family of businesses.”Rich received a bachelor’s degree in psychology and business from the University of Colorado.