Honoree - Mark A. Veerkamp Shambaugh & Son L. P.
What does the organization do? Shambaugh & Son L.P. is a customer-driven, single-source, self-perform construction and engineering firm headquartered in Fort Wayne. Shambaugh was founded in 1926 and has annual revenue of approximately $525 million with 1,800 employees. We are currently the largest mechanical, electrical and plumbing construction services contractor in Indiana and ranked the third largest specialty contractor in the United States. Shambaugh specializes in a full range of new and retrofit construction for industrial, food processing, commercial, institutional, healthcare, pharmaceutical and bio-fuel projects. Self-performed services include mechanical, plumbing, process, refrigeration, electrical, process controls, water and waste treatment, fire protection, temperature controls, high and low voltage systems, street lighting and signals, and computer consulting. Shambaugh is a subsidiary of EMCOR Group Inc., a Fortune 500 company with estimated 2015 revenues of approximately $6.6 billion. What is your favorite Excel function and why? Undo – has saved me many times. Age: 58 Title: CFO Years with company: 26 Family: wife, Patty; sons, Greg, Brian and Mike Education: bachelors, Indiana University; associates, Purdue University; bachelors, University of Texas Hometowns: Cincinnati, Ohio; Fort Wayne, Ind. Civic Involvement: Northeast Indiana Regional Opportunities, council member; Building Contractors Association of Northeast Indiana, president; Financial Executives Northeast Indiana, past president/ board member; Construction Financial Management Association, past president; Midland Jaycees, past president/board member; Midland Texas Chamber of Commerce, board member Hobbies: boating; time at my farm, the lake and in Florida; watching IU basketball, Colts, Bengals and Notre Dame football; the grandkids; business/investment ventures Page 20
What led you to the role of CFO at the current company? I had a desire to move back to Indiana with my young family. I was hired by Shambaugh & Son as controller in 1989 and named CFO in 1990. What has been the most challenging feat during your time as CFO for the current organization and why? How did you handle that situation? The economic and construction cycles are quite challenging for a large construction company. Controlling costs, diversifying the business and watching cash flow allowed the company to maintain and actually grow during challenging times. Which has been the most rewarding part of the job and why? Shambaugh & Son has grown revenue from approximately $45 million to $525 million in the last 25 years. Our employees, who are truly our greatest resource, made this possible. The daily interaction with our team, the integration of the 11 acquisitions with which I have been involved, developing efficient processes and assisting in construction projects and corporate strategy make my job constantly rewarding. Where do you see the company in 10 years? Shambaugh will continue to prosper, continue to grow, continue to provide
excellent service to its customers and continue to attract and retain very talented individuals. I see Shambaugh as an industry leader in 10 years – as it is today. How do you make the tough decisions when setting the budget? What is your philosophy? Each of our division leaders is involved in the budget process – that is important. The division sets the budget for their group and, therefore, has ownership. I review the budgets submitted and question and challenge, as needed. My philosophy is that we must make sure there is a return on investment on all expenses incurred. Is your life as balanced as your budget? Why or why not? I work to keep a balanced life, but have found myself spending a lot of time on work, business ventures and professional and civic organizations. I have adjusted my schedule over the years to be sure that I did not miss my sons’ football games, baseball games, swim meets, Boy Scouts, school programs or any other activities. For the most part, this has been successful, although sometimes I am late to an event. I tell my staff to be sure to attend their children’s activities. I do need to work on putting the cell phone and email aside on occasion.
CFO of the Year • October 2015 • fwbusiness.com • ©KPC Media Group Inc.