I know not a steadier and more upright leader than Thomas J. Manenti, who elevated his company from good to great over his 40-year tenure. His characteristic humility and aplomb enabled him to navigate most of his career among strong egos. Tom is the consummate people person who transformed MiTek to become the People Place.
He hailed from the Bronx via North New Jersey, and after serving our country in the U.S. Army, joined Gang-Nail, then the premier company in this industry, as a Sales Manager. Tom adapted well to his Midwest posting, beginning lasting business relationships, and finding a life partner, his wife Cathy. In short order though, Tom was summoned to South Florida to become Sales Manager, and, not long after, he was promoted to President of Gang-Nail. That title quickly became a dubious distinction.
As a young manager, Tom confronted formidable challenges: maintaining the reputation of the most venerable company in his industry, while navigating both the severe 1980’s housing recession and staving off the commoditizers. To make matters worse, Gang-Nail was hemorrhaging money from their engineered wood venture. As a result, Gang-Nail’s billionaire owners lost patience, and sold to a smaller competitor, Hydro-Air Engineering.
As part of the acquired company, Tom adjusted to his subordinate position with his usual professionalism. He buttoned up the South Florida operation while carrying with him to St. Louis most of Gang-Nail’s good will. This move gave Tom the insight that would prove essential in the roll-up years of the Nineties. Tom was the steady, welcoming leader, who melded into the rechristened MiTek the best talent of many more acquisitions.
Bolstering his leadership persona are his organizational talents, aided by his rapid adoption of the best tools of the day. Early on, he became an expert, and instructed us on use of the Day Timer Organizer. And, as soon as it availed itself, Tom embraced the best use of the computer, never substituting email when human interaction was called for. This administrative expertise, on top of his accounting training, gave him the skills he would need to assemble and run a multi-faceted organization, and this highlights his latest feat, diversification.
After leading MiTek to industry pre-eminence, Tom embraced this chapter, undeterred by Gang-Nail’s setback early in his career. And he now has grown MiTek to become a billion dollar “diversified global supplier of software, engineered products, and services to the residential and commercial construction sectors,” as described in Warren Buffett’s annual report.
With characteristic humility, Tom would credit his success to the team he has assembled, to whom he now leaves his company. However, no single individual has made a larger mark on this industry, and created a finer legacy for his company than Thomas J. Manenti.