I.W. Tremont appoints equity partners as Co-Presidents
Aug 15th, 2022
After the passing of founder, President and CEO Salvatore J. Averso July 29, 2021, his sons and long time business partners James A. (Jim) and Andrew S. Sr. (Andy) have assumed equal equity partnership in the corporation. Prior to Salvatore’s passing, the brothers were minority shareholders, each holding Vice President positions.
As of August 15th the positions of Co-President have been created. Each partner will continue to primarily manage the area of business as they had previously held; Jim Averso is Co-President, Sales and Marketing, and Andy is Co-President, Operations.
Jim comments “by utilizing a Co-Presidency leadership model, my brother and I hold equal equity positions in IW Tremont, while continuing to share all responsibilities”. He also adds “Our Father had always envisioned our leadership in this manner and it feels right to continue in this way”.
Andy explains “Jim and I have skills in different areas of business complementary to each other that build upon the foundation for the second generation of leadership for I. W. Tremont. Also, I had the pleasure of working with my father for many years, and I continue to derive tremendous satisfaction building a strong business with my family.”