What reignites Timothy Teske’s passion for his role as the executive vice president and chief financial officer of IEWC is the challenge of staying agile in a rapidly evolving marketplace. “I thrive on constantly rethinking our strategy, analyzing what’s working and what needs adjustment, and implementing changes that position us for continued success,” he said. “This dynamic environment ensures that no two days are the same, which keeps me engaged and motivated to find innovative solutions.”
What drives him the most is knowing that every decision made ultimately affects the firm’s employees and their families, said Teske. “Ensuring that IEWC remains financially stable, grows in the right areas and continues to provide opportunities for employee-owners keeps me focused on our mission,” he said. “By maintaining a long-term view, I ensure that we’re not just making decisions for today, but for the future of the families who depend on our company’s success.”
IEWC is a global distributor of wire and cable products, manufacturer of custom fiber assemblies, and provider of value-add solutions that advance a connected world. As a partner to thousands of companies in a wide array of manufacturing and infrastructure industries, IEWC has been an entrusted partner supporting customer supply chain, logistics and product quality initiatives for over 60 years.
When Mike Veum, chief executive officer, brought Teske into IEWC, he had a vision to transform the way finance worked within the company. Teske was charged with building a finance team that could move beyond “accounting” and become true partners to the various functional areas to drive value.
With his focus on cash flow generation driven by growth, higher profitability, and balance sheet management, debt was paid down to a reasonable level while investments were made to streamline processes and grow the business both organically and through acquisitions. The results have been astounding, with a 5-year EBITDA CAGR of 22% and a 5-year stock value CAGR of 38%. The employee owners benefit from the team’s effort; while there were two ESOP millionaires in 2018, by the end of 2023 there were 52 ESOP millionaires, 20 of which work in the company’s U.S. distribution centers.
“I want every employee to feel that they have a role in driving our success, and by sharing data and results, we allow our teams to understand how their contributions directly impact the business,” said Teske. “This sense of shared accountability helps maintain enthusiasm across the organization and ensures that we all stay aligned toward the same goals.”