GREENSBORO, N.C. – Tencarva Machinery Company has announced that Executive Vice President Henry Ritchie is being promoted to president. Former President Ed Pearce will become the company's chairman and will continue to lead strategic initiatives. Tencarva is backed by Bessemer Investors, LLC, a New York-based investment firm.
"In his 37 years with Tencarva, Henry has held every conceivable job in the company, and his wealth of experience makes him the perfect person to oversee the company's daily operations going forward," said Pearce. "He is well respected by our employees, vendors and customers and has served as our sole executive vice president for the last four years in preparation for this transition. Henry has spent his entire career at Tencarva and I look forward to watching the company continue to expand and thrive under his management."
Ritchie said, "I am honored and humbled to take over the role of president from Ed, who has done an outstanding job leading the company, especially through its transformation over the last decade. From our beginnings as a sales company, we have grown into a complete solutions provider, and I am excited about my new role and the company's future. I intend to proudly continue the legacy we've built over the last 48 years."
Concurrently, Chad Plott and Jeremy Reese have both been promoted from vice president to executive vice president. They are both 30+ year Tencarva veterans who will take on expanded responsibilities commensurate with the company's recent growth.
"These promotions further strengthen Tencarva's business outlook, while preparing the next generation of Tencarva executives," said Bohdan Tyshynsky, principal at Bessemer. "We are grateful for Ed's continued guidance, and Henry, Chad and Jeremy all bring both company and industry experience that will be invaluable as Tencarva embarks on its next phase of growth."
