Steve Van Andel, the co-chief executive officer of direct sales giant Amway Corp., plans to retire at the end of 2018.
The early announcement is intended to give the Ada-based company time to figure out who will take over his role as co-CEO, a position he shares with Doug DeVos. Van Andel plans to remain as chairman of the board while stepping away from day-to-day duties. Doug DeVos serves as company president.
“My goal is to stay engaged,” Van Andel told MLive/The Grand Rapids Press.
“I love the Amway business. I love being part of it. I love what Amway does and what Amway stands for.”
Van Andel has worked for Amway for 45 years and has served as co-chief executive since 1995, when he succeeded his late father, Jay, who co-founded the company with Rich DeVos, father of Doug DeVos.
“Both our dads told us don’t ever forget two heads are better than one and that probably helped out our partnership,” Steve Van Andel said.
He said a decision hasn’t been made if one of his siblings Nan, David or Barb, or even if someone outside the family would take over the co-CEO responsibilities. David Van Andel is founder and CEO of the Van Andel