Congratulations to our own Chris Thorkelson, who was named one of Family Business Magazine’s CEOs to watch in 2020.
The November/December issue highlights 28 exceptional CEOs of family businesses who have met the tests of 2020 as the pandemic challenged revenue, supply chains and safety for all involved in business.
“Family business CEOs in 2020 have had to emphasize resilience in communicating with a stakeholder group that includes family members not employed in the family company,” the magazine wrote.
“However they made their way to the C-suite, these chief executives clearly have earned the respect and admiration of the family business owners.”
Thorkelson, the nephew of Lloyd Companies founders Craig and Pat Lloyd, came to Lloyd in 2003 and worked in multiple divisions before becoming Chief Operating Officer for three years and taking on the role of CEO in 2015.
“Under Thorkelson, Lloyd Companies has entered a new stage of growth, which has included expansion into many markets throughout the Midwest, a new division focused on hospitality, and signature mixed-use developments in downtown Sioux Falls,” the magazine wrote.
Thorkelson has made some “bold moves” in the last four years while building an “amazing leadership team” and positioning Lloyd for growth, added Christie Lloyd Ernst, Lloyd Executive Vice President of Property Management.
The company was on pace this spring for a huge year, with four hotel development deals in the pipeline in addition to other high-profile projects. Then, the pandemic hit and Thorkelson was quick to adapt. Hotel projects were put on hold and resources were redeployed into multifamily projects.
“His ability to lead nearly 200 employees through this pivot has allowed us to retain our employees, and we anticipate ending the year with minimal damage to the bottom line,” Ernst told the magazine.
“The communication he provided to the employees, board and ownership group on a weekly basis was engaging, transparent, motivational and responsive to the needs of all. He was very intentional about keeping our team COVID-free, even though many of our staff were considered essential. We were able to keep our construction crews, maintenance teams and property managers working and healthy by providing training, extra precautions and PPE. Chris has shown his ability to prosper during the great years and, more importantly, how to focus on what we can do during tough times.”
Congratulations, Chris, and thank you for your outstanding leadership!
To read the full article, click here.