After 38 years of service, Ohio Transmission Corp’s (OTC) long-time chief executive officer Phil Derrow is moving to a new role as chairman of the company.
The OTC board of directors has named David Scheer as the new CEO.
Scheer, who will also join the OTC board, has more than 30 years of experience leading global industrial manufacturing businesses and specialty industrial distributors. He currently serves on the board of Clarience Technologies LLC. Prior to joining OTP, Scheer was the CEO of diversified electrical products platform Power Products LLC and ECM Industries. Scheer was previously Actuant Corp’s executive vice president/Electrical Segment and led the 2013 spin-off of the segment, which was renamed Power Products.
OTC was co-founded in 1963 by Phil Derrow’s father, David Derrow, and L Philip Carstens. Since its founding, OTC has grown from just six employees in a single location in Columbus, Ohio to more than 1200 employees in 47 locations across the US. Phil Derrow became CEO in 1998. In 2013, Derrow led the company through a transition to private equity ownership, culminating in a sale to Genstar Capital in April 2019. Derrow’s move to the chairman role was planned as part of the Genstar acquisition.
“It is impossible to adequately express my profound gratitude to all of our associates, customers and suppliers for their trust, support and friendship during my career. It has truly been the gift of a lifetime of service for which I am profoundly grateful,” said Derrow. “I am excited to hand over the reins to an executive as accomplished as David.”
Scheer said he was honoured and excited to join the company as CEO. “I look forward to working with all of OTC’s team members to continue to grow and build one of the country’s largest industrial solutions providers,” said Scheer.