Shifting Gears: Founder's daughter pulls HM Manufacturing out of trouble, earning CEO title.
By: Kim Mikus Read the Article Here.
Nicole Wolter majored in chemical engineering and finance and was a year into her job at a Chicago securities firm when her father told her the family manufacturing business was losing money, blaming the recession in 2008.
Wolter, who knew almost nothing about the company her dad started in his basement about 38 years ago, returned home during the economic downturn to try to assist in the operation. Over the next several years, the energetic businesswoman worked to learn everything about HM Manufacturing, a power transmission components provider in Wauconda.
As she studied the company, she uncovered a scandal on the manufacturing floor that nearly drove the company into bankruptcy. She turned the company around, bringing sales from $80,000 to about $3 million in six years. "I love to go to the next level," said Wolter, 32. Perseverance and determination are reasons Wolter was one of 21 local women recently honored by the Daily Herald Business Ledger during the 20th annual Influential Women in Business Awards. The awards were presented to women executives who excel in business, civic and personal arenas.
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Photo Credits: Daily Herald
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