Hoffer Plastics’ Co-CEOs: Leading a Family Business Through Conflict and Crisis

When siblings Gretchen Hoffer-Farb, Alex Hoffer, and Charlotte Hoffer-Canning became co-CEOs of Hoffer Plastics Corp. on Jan. 1, 2020, they had less than 90 days before COVID-19 tested their shared leadership model. Host Christina Fuges talks with the three leaders of the third-generation, family-owned custom injection molder in South Elgin, Illinois, about how they divide responsibilities. Gretchen oversees finance and supply chain, Charlotte leads HR, culture, and marketing, and Alex runs operations. They also explain how years of intentional work with a leadership coach prepared them to lead together.

The siblings describe how the company’s core values of family, integrity, service, and trust guided their toughest decisions. Those decisions included cutting their own pay to save every job during the pandemic and keeping customers running through the 2021 resin and supply chain crisis. They also cover how they handle disagreement with a “disagree and commit” approach, keep family time separate from business, and build future leaders through peer-selected leadership development groups.

The episode closes with each co-CEO’s advice for anyone attempting shared leadership: start early, be intentional, seek counsel, stay humble, and know what matters more than the business.