(ST. LOUIS, April 22, 2019) - Schaeffer’s Specialized Lubricants is pleased to announce the appointment of Larry Hofstetter as President, effective immediately. Hofstetter succeeds Jay Schaeffer Shields, who has served as President and CEO since March 2018. Shields will remain as CEO, and Tom Schaeffer Herrmann will remain as Chairman of the Board.
“As a 180-year-old privately-owned family company, it’s imperative we have strong leaders in place who understand our culture so we can continue fulfilling our commitment to customers who trust their equipment and businesses with our products,” says Shields. “After months of extensive searching and careful deliberation, I’m proud to welcome Larry Hofstetter to our team. Larry brings 32 years’ of experience in the refining industry to Schaeffer. His background and work style make him an ideal fit to lead Schaeffer, drive strategic growth and support our sales reps and associates.”
Hofstetter has experience in big company operations as well as family-run organizations. Before joining Schaeffer, Hofstetter ran a $10 billion joint venture for Cenovus (formerly Encana), a company that produces oil from the tar sands in Alberta, Canada. Prior to Cenovus, Hofstetter held executive positions in various refining organizations including Premcor Refining Group, Shell Oil Company and Indian Refining. From 2008 to 2015, Hofstetter served as Chairman of the Board for the Bick Group, a St. Louis family company that builds and serves mission critical facilities for companies with significant investment in their IT infrastructure.
“I’m excited and honored to serve a company that is built to last. Schaeffer’s rich heritage and unique business model allow the Company to put customers and their equipment first while providing opportunities for our sales reps and associates,” says Hofstetter. “By working with Schaeffer’s leadership team, I am confident we will see Schaeffer continue to live up to the level of service and product performance our customers have come to expect from Schaeffer.”
As President, Hofstetter will lead the executive team to ensure success and growth in operations, sales and finance. He’ll work with leadership to continue product innovation, develop new markets and strengthen customer support.
About Schaeffer’s Specialized Lubricants
Founded in 1839, Schaeffer’s Specialized Lubricants is a sixth-generation, family-owned company that delivers the right solution to every lubrication challenge. Schaeffer’s products provide strong equipment durability and fuel economy benefits, allowing customers to maximize their equipment’s efficiency and return on investment.