Laundrylux has announced a series of management changes, which will take effect January 1, 2018.
Neal Milch, CEO, will assume the role of executive chairman of the board of Laundrylux.” The world is changing incredibly fast,” Milch said. “And my highest value to the business is to look past the horizon to understand what is coming, and working with our senior management team to develop sustainable growth strategies across all brands and channels.”
Under Milch’s tenure as CEO, Laundrylux developed an expanded portfolio of brands and products for more market segments than ever before in the company’s history, while multiplying revenues.
“We have succeeded by being creative, aggressive, investing in technology and, most of all, investing in people. That will continue at an accelerated and more intensive pace,” Milch noted.
In turn, John Sabino, president of Laundrylux, will become the new CEO.” John is an essential partner in the business,” Milch explained. “My family and the employees of Laundrylux have complete confidence in John. He is smart, creative, dedicated and exhibits the values and ethos we have always embraced as a company. He is respected by everyone he does business with, and he will lead Laundrylux to even greater success. I personally look forward to working closely with John as we embark on this exciting next phase in our 65-year history.”
Reflecting on his new responsibilities, Sabino stated: “It has been a pleasure working with the Laundrylux team these past eight years and helping to drive our rapid growth. Time flies! Neal initiated this change almost a year ago, and it is testament to his selflessness in always putting the needs of the business first. I look forward to the challenges of being CEO and am happy that Neal is continuing his full-time participation as an out-of-the-box innovator, mentor and friend.”
One of Sabino’s first actions as incoming CEO has been to announce the appointment of Cody Milch as president of Laundrylux.” It’s always a bit tough to come in as the son of the CEO and grandson of a legendary founder, but Cody has demonstrated remarkable strength, insight, work ethic and leadership over the past four years,” Sabino explained. “He has fully earned this promotion and enjoys the complete confidence of our employees, partners and customers. His understanding of technology and natural people skills make Cody my ideal partner. Cody is the real deal, and we are very lucky to have him as president.”
“John has made being president of Laundrylux look easy,” said Cody Milch. “But I have tremendous respect for the talent and hard work it takes to succeed. I appreciate the opportunity to build on this legacy and to lead digitization of our enterprise. We are deploying integrated software platforms to support long-term growth initiatives, and we are professionalizing and scaling every aspect of the business.
“As my first act as incoming president, I’m pleased to announce the appointment of Michael Martino as vice president of finance,” Cody continued. “Michael’s leadership of Laundrylux Funding Services has been outstanding, and we are delighted to recognize his achievements with this promotion. Financial services are key to our future success.” Laundrylux also announced the appointment of James Fair as chief financial officer – with broad responsibilities in financial management, as well as developing and executing corporate strategy. Fair boasts years of sophisticated public company and capital markets experience.” We now have by far the strongest management team in our history,” said Julia Milch, a member of the Laundrylux Board of Directors. “This team can and will execute the strategic plan it has developed to leverage the tremendous products and technologies in our portfolio. The opportunities in 2018 and beyond are very exciting, and management has the complete support of the Board.”
