First Rate Founder Dave Stone's roles of CEO and President, which he has held since the firm's inception twenty years ago, are being separated. Stone will continue as CEO, where he will provide executive leadership and assist with the strategic direction of the company.
Craig Wietz will assume the role of President of First Rate. Wietz has been with First Rate for sixteen years, most recently as Managing Director of Service Bureau-the business line for clients who outsource their performance processing functions to First Rate. In this role, Wietz was responsible for new client development, client relationships, business operations, and strategic planning.
"Being named First Rate's President is a natural step for Craig," says CEO Dave Stone. "He has been instrumental in First Rate's success over his entire tenure. At the same time, the role will bring him new challenges to surmount."
As President, Wietz announced further changes:
â¢ Terry Gaines will move from General Manager of Products to become First Rate's Sales Manager. An eleven-year First Rate veteran, in his new role, Gaines will lead a concerted effort to take the company's sales and marketing to higher levels.
â¢ Deborah Repak will take over as General Manager of Products. Repak has been with First Rate since its inception, becoming the second full-time employee in 1992. Most recently, she served as Director of Products, working with the product base development team to lead many successful development initiatives.
â¢ Marshall Smith will become General Manager of Service Bureau. Smith interned with First Rate in 2003 and has filled several roles since, most recently as Client Service Manager. The Dartmouth graduate also recently completed the requirements for the Certificate in Investment Performance Measurement (CIPM) certification.
"I look forward to continuing to work closely with Marshall in his new role," says Craig. "Deborah's rich base of knowledge, of both First Rate and the performance measurement industry, suit her perfectly to the challenge of being General Manager of Products. Terry's experience managing First Rate's largest revenue business unit, not to mention his wealth of business and management experience, makes him an ideal choice for leading our revenue generation efforts. Together, these changes will provide us with a refreshed direction and renewed purpose as we lead our company and industry into the future and help our clients achieve greater success."