Quoizel CEO shares growth strategy| People 2023

Anne Flynn Wear //Assistant Managing Editor//October 2, 2023

CEO

As the CEO of lighting company Quoizel, Rick Seidman is optimistic about the future.

“As we move into 2024, we will play to our strengths and reinforce existing categories as well as consider adding adjacent categories and new customers,” Seidman said.

After being family owned for almost 90 years, private equity company NBG Home purchased Quoizel in 2019, just prior to the pandemic. But, earlier this year, NBG Home filed for Chapter 11. Because Quoizel was still doing well financially, it was carved out as a standalone company and is now owned by a group of investors led by credit funds and accounts managed by KKR.

Seidman started as a sales rep with the company in 1990 and worked his way up to CEO by 2006. The company set him up with a CEO coach for six years during his transition into the role. He also took graduate classes at MIT and Oxford during that time and eventually earned his MBA from Clemson University.

“I got my MBA from Clemson at the age of 50,” Seidman said. “During my time there, we got real analysis from my fellow MBA students by using Quoizel as a case study instead of some hypothetical company.”

Seidman said the years of the pandemic were rough for everyone at the company, but the team stuck together and weathered the storm.

“I am most proud of the communication and trust among our team members during a very difficult period,” he said. “I believe the way to lead a team is like an orchestra conductor — take talented people and motivate them and share a vision so they everyone can make beautiful music together.”

Seidman believes the company is a living entity that needs constant modification, so he reaches out to all employees on a regular basis to find out what is working and what is not.

“My goal for the rest of this year is normalcy, we have lived in chaos for too many years,” he said. “I plan to calm the business while reinforcing the strong culture that we have so that we can share it with new employees. We need to really get the foundation strong before we move onto that path towards growth.”

Select Region or Brand