Kenneth G. Herrick, 83; Chairman Emeritus of Tecumseh Products Company
Jul 27, 2004
Kenneth G. Herrick, Chairman Emeritus of Tecumseh Products Company (NASDAQ: TECUA)(NASDAQ: TECUB), has died at age 83. He passed away July 25, 2004 in Tecumseh, Michigan after a period of declining health, said his son Todd W. Herrick.
Ken Herrick was born in Jackson, Michigan on April 2, 1921. He attended Howe Military School graduating in 1940 and immediately began working at Tecumseh Products Company, the company founded by his father, Ray W. Herrick, in 1934. Mr. Herrick served in the U.S. Army Air Force from 1942 through 1945, returning to Tecumseh Products Company after his military obligation. He served in several management positions culminating in his election as Chairman of the Board and Chief Executive Officer in 1970. He retained the position of Chairman of the Board in 1986, when his son, Todd W. Herrick, became Chief Executive Officer of the Company. Mr. Herrick was appointed Chairman Emeritus upon his resignation from the Board in February, 2003.
During his tenure at the helm of Tecumseh Products Company, the Company grew from $426 million in annual sales to $1,343 million. Mr. Herrick was very proud of the success of the Company, but not very comfortable talking about it, saying in an interview in 1972, "We are accepted within our industry as a leader, we do not have to broadcast our success."
"My father's entire focus was on the Company. His heart and soul were centered around furthering the business that his father and my grandfather taught us," said Todd Herrick. "To him, that meant not only growing the revenues of the Company, but sharing its success with the communities in which it operates."
Mr. Herrick served as President of the Herrick Foundation until the time of his death. The Herrick Foundation, which is one of the largest charitable foundations in Michigan, was Mr. Herrick's pet project. A strong sense of community and education are two issues particularly important to the Herrick family and have been the benefactors of the Herrick Foundation throughout the State of Michigan and all communities where Tecumseh Products' facilities can be found. The generosity of the Foundation can be particularly felt in Tecumseh, Michigan where the schools, churches and community services have all been impacted by Herrick Foundation donations.
Ken Herrick was also very active in the business community having served on the boards of the United Savings Bank (now the United Bank & Trust) in Tecumseh, Michigan, the National Bank of Jackson, in Jackson, Michigan, the Ohio Citizens Trust Company in Toledo, Ohio, the Henry Ford Hospital in Detroit, Michigan, and the Howe Military School in Howe, Indiana.
In 1993, Mr. Herrick was the fifth recipient of the Musgrove Evans Award, an award from the Tecumseh Chamber of Commerce given annually to persons recognized for outstanding contributions to the community of Tecumseh, Michigan.
In addition to his son, he is survived by his wife, Shirley, daughter Toni Lynn Herrick, sister Jean Herrick Van Wavern and three grandchildren and six great grandchildren.
SOURCE: Tecumseh Products Company
CONTACT: Pat Walsh of Tecumseh Products Company, +1-517-423-8455
Web site: http://www.tecumseh.com/
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