SYCAMORE – David W. Juday is retiring as Ideal Industries' chairman of the board of directors as part of a planned succession program, the company announced today.
Juday is the grandson of J. Walter Becker, who founded Ideal Industries in 1916. Juday joined the company in 1972 and has served as its chairman since 1984. Ideal Industries' CEO and Vice Chairman Jim James has been appointed the new chairman.
"We would like to thank Dave for his commitment of time, support, friendship and leadership that has helped make Ideal what it is today," James said in a news release. "Ideal is a stronger company, poised for future success and long-term sustainability, because of Dave's vision and stewardship."
Under Juday's stewardship, Ideal grew from a regional manufacturer known for Wire-Nut wire connectors to "one of the world's largest makers of contractor-grade tools, testers and supplies used by electricians, data communications installers and industrial maintenance professionals," according to the news release. The Ideal brand now distributes more than 6,000 products across five continents.
Juday, a lifelong Sycamore resident, was instrumental in Ideal Industries buying several companies including Anderson Power Products, Casella Measurement, SK Hand Tool, Western Forge, Pratt-Read, and Trend Communications, over the past decade, the news release states.
"Not many people have a chance to invest in a career that is so laden with tradition and at the same time so dynamic and promising for the future," Juday said in the news release. "We can imagine that what my granddad started, my dad and the larger family continued, and what I and the rest of the family have worked at for the last 40 plus years will provide the fifth generation of shareholders with the same opportunity my granddad provided me: a chance to spend a meaningful career at a company whose values reflect those of the founders."
Juday followed his father, Eugene "Tug" Juday, who preceded him as chairman, into the family business, the news release states. Today, David Juday's daughter, Meghan Juday, is chairwoman of the Ideal Family Council and a director on the company's board of directors.