|
 |
photo by Terry Roberts |
Moving into the next generation
By Doug Rainey
Peggy DelFabbro can't help but look at the quality of welding jobs, even when she is not working as the CEO at MDavis.
"My dad does it too," DelFabbro says.
DelFabbro was recently named the CEO, of the Wilmington-based mechanical and industrial contractor that over the years has expanded from sheet metal work into complex fabrication and electrical projects that to this day DelFabbro when she inspects the finished work.
A few years back, the company rebranded itself as MDavis, after being for more than a century as M. Davis and Sons - still the legal name. The move was not tied to a new generation taking the reins, but was the result of research that indicated the shorter name was widely used already.
With her appointment, leadership of the 225-employee company moves into the family's fifth generation. MDavis was founded by her great, great grandfather in 1870. Her father and former head of the company, Charles R. Davis, will move into the post of chairman.
DelFabbro says she literally grew up in the business, accompanying her father on his rounds. from an early age. By high school she was working in the office.
DelFabbro went on graduate from the University of Delaware, but decided to take a job at NVF, a local manufacturer and an MDavis customer.
"It was a great experience," DelFabbro says. However, she found the pace a little too slow and after a few years moved to the family business.
She rejoined the company and went to work in office operations as well as accounts payable and accounts receivable. She has stayed on the financial side of MDavis for 22 years and held the post of treasurer, prior to moving into the post of CEO.
In handling accounts receivable, she heard a number of interesting stories when it came to explanations of why the bill was not being paid. Perhaps the best of the lot came when one customer said the checkboook was missing because it was being taken along on a honeymoon.
DelFabbro's focus on finances continues as CEO during what she describes as the most difficult economy she has seen during her career.
Like all contractors, MDavis has felt the effects of growing competition and fewer projects as customer remain cautious about spending money. One long-time customer, DuPont, is doing little work, she notes and DeFabbro will not venture a guess as to when the situation will turn around.
The caution extends to taking on projects, with the company running credit checks.
MDavis knows what can happen when companies run into financial trouble.
One good customer over the years was Bethlehem Steel. During a severe downturn in the industry, the MDavis agreed to major project for the company, only to see Bethlehem go into Chapter 11 bankruptcy protection. "We took a big hit," DelFabbro admits.
The married mother of two sons, ages 14 and 11, continues to come into the office early. That schedule allows time to attend after school activities, while she stays in touch via a Palm Treo smartphone.
One of those activities, karate, led to her to take up the sport. A long-time figure skater, DelFabbro had been forced out of action by back problems and was looking for an alternative. She is now at work on earning a black belt and in the process lost 50 pounds.
Karate also proved be a stress-reliever, since the concentration required forces an individual to block out work matters.
And yes, the ability to break a board with her bare hands impresses the guys in the field.
On a more serious note, she says she tries 'not to think about it too much" when it comes to the task of leading a company moving towards its 140th anniversary.
She says MDavis reached these milestones, due to its ability to attract and retain outstanding people. She says her job is to ensure that tradition continues.
And in becoming the first female CEO of one of the largest local contractors, she says she will work to offer opportunities in a traditionally male-dominated business. She notes that the company has a female welder and a CAD (computer aided design) technician and wants to see more women enter non-traditional jobs. Even with the current downturn, the industry faces an exodus of older workers and an questions about whether younger people are willing or capable of taking of filling those positions.
The company is also working on becoming certified as a Women's Business Enterprise, a designation that would open additional doors in securing work, she says.
While the family has traditionally stayed more in the background in serving as the public face of the business, DelFabbro says she is willing to taking a more visible role in helping the company continue during its second century. |