Grand Rapids Executive Tom Olive Joins Crystal Flash As President And CEO
Experienced Fortune 500 Executive Will Lead Family-Owned Energy Distributor
Grand Rapids, Michigan, June 8, 2015 – After a lengthy search, seasoned business leader Tom Olive has been selected to join Crystal Flash as its new president and CEO.
Olive, 52, stepped into his new role in early May as Tom Fehsenfeld, third-generation chairman of the family-owned company, and CEO Dave Scigliano both prepare to retire. Fehsenfeld and Scigliano will both take positions on the company’s board of directors.
In his new position, Olive will guide the day-to-day operations of the Grand Rapids-based energy distribution company, which was established in 1932 and has more than 250 employees in 14 locations statewide. Specifically, he will be responsible for ensuring Crystal Flash continues to execute its strategic plan and reaches its financial goals. He also will oversee the company’s ongoing search for merger and acquisition candidates.
Olive brings three decades of leadership to his new role, including stints at two Fortune 500 companies. He has extensive experience driving business growth, developing and implementing strategic plans, and nurturing team-based cultures with highly collaborative leadership.
“It is with great pleasure that I welcome Tom to Crystal Flash as president and CEO,” Fehsenfeld said. “He is a proven leader with great vision as to how our company can build off its past successes and continue to grow.
“His strong financial foundation, focus on team building and dedication to providing exceptional customer service make him a great fit for our culture. Tom has the skills to lead Crystal Flash and to ensure our future growth and success.
Prior to joining Crystal Flash, Olive was CEO of True Textiles, Inc., a supplier to the office furniture industry based in Grand Rapids. During his tenure at True Textiles, he strengthened the leadership team, implemented new business processes to improve efficiencies and strengthened cash flows.
A native of Iowa, Olive came to West Michigan in 2003 to serve as chief financial officer of Elan Nutrition, Inc., a private label food company based in Grand Rapids. During his tenure with Elan, he grew sales, added customers, improved supply chain management and expanded production capabilities. He was president and CEO when he left to join True Textiles in 2010.
Olive also spent time in leadership roles with two Fortune 500 companies: The Procter & Gamble Co., where he served as associate director of international finance, and Campbell Soup Co., where he served as director of financial planning and analysis for its U.S. soup business unit.
“I am deeply honored to have been chosen to lead Crystal Flash,” Olive said. “The company is well-respected as a leader in energy distribution, not only in Michigan but around the country.
“I look forward to working with all 250 team members to continue building on the incredibly solid foundation that Tom and Dave are leaving us.”
Olive holds a master’s in management from Northwestern University and a bachelor’s in business administration from Drake University.
Olive and his wife, Kelly, reside in Grand Rapids with their four children.
About Crystal Flash™
Crystal Flash™ is a third-generation family-owned energy distribution company focused on commercial and residential customers throughout the Lower Peninsula of Michigan. Established in 1932, Crystal Flash has grown as the demand for energy has evolved, and today concentrates on the sale and distribution of propane, diesel and other fuels. Today, the company is one of the largest independently owned energy suppliers in the state with more than 250 employees in 14 locations. For more information, visit us online at www.crystalflash.com.