Viewpoint
by Don Copenhaver

Change of leadership at MFA Incorporated

Don Copenhaver reflects on his tenure, introduces new president and CEO

In this, my last column as president and CEO of MFA Incorporated, it’s fitting that I introduce my friend and successor Bill Streeter. At the end of December, MFA Incorporated’s Board of Directors announced Bill’s appointment, effective March 1, 2009.

Bill will be only the sixth individual to fill that role in the organization’s 95-year history. As you would expect, Bill is fully qualified for the job. I can’t think of a better person to assume the reins in this difficult environment.

I do not mean to slight any of the more-than-qualified other candidates, because we had a deep pool of talented applicants. The board had a very difficult responsibility, and they performed it with collective wisdom.

Over the 35 years that I’ve known Bill Streeter, I’ve developed a lasting friendship with him. He’s an extremely deep thinker and possesses an extraordinary memory.

I have come to depend on Bill’s insight and wisdom. I trust him and depend on him for unbiased advice, for strategy and for objective analysis in any situation.

Bill has 35 years of cooperative business experience, including 10 years at his latest post of senior vice president of MFA Incorporated’s Agri Services division where he oversaw direct sales, marketing operations and associated services with annual sales of approximately $500 million.

His experience at MFA includes management positions in farm supply as well as heading corporate sales, which included managing plant foods marketing, agronomy services and corporate communications.

Bill grew up in Lilbourn, in Missouri’s Bootheel. He attended the University of Missouri-Columbia, where he graduated with a bachelor’s degree in agriculture. He served in the United States Army, including a tour in Vietnam.

In announcing Bill’s selection, the chairman of MFA Incorporated’s board of directors, Joe Dent (who farms in Humeston, Iowa) noted that Bill brings a great depth of knowledge to the CEO position and exhibited the strategic thinking that is necessary in today’s environment.

I offer my heartfelt thanks to Joe and the rest of the board. Your board members are heads of their own operations. Those operations are large enterprises, which take time, effort and hard work. Add in fiduciary responsibility of serving on the board of a major Midwest cooperative, and you’ve got a full load. Then add the responsibility of hiring a new chief executive officer.

Your board members performed their job exceptionally well. All of us at MFA owe the board a debt of thanks. The importance of a competent board of directors is made all the more apparent in the process of changing the leadership of the cooperative.

Throughout my tenure in this office, I’ve enjoyed a dedicated, supportive board. Rest assured, your board is made up of strong individuals who know farming.

I’ve tried over the years to structure the environment so that anything is a fair question in board meetings. I might be accused of sharing too much information with the board. That’s much better, though, than too little.

Most organizations ask board members to get up to speed quickly and make business-critical decisions. That’s not the way I’ve wanted MFA’s board to be treated. I want the board to have time to analyze material and have appropriate questions ready. I want the board prepared and armed before the meeting. Honesty is the best policy—even if you have something a board does not want to hear. I respect their intelligence and abilities.

During my time at MFA, I’ve also had the privilege of working with outstanding employees. An important task of any CEO is to make sure the right people are in the right places. MFA has talent in our field locations and in the home office. It has been my privilege to work alongside them.

I’ve tried to instill a culture that recognizes our whole reason for existence is to serve our farmer/owners. We have to have a long view. This cooperative will be here in the future.

When I started at MFA Incorporated in 1962, I never dreamed I’d become president and CEO. I have never had a singular focus on moving up. It’s been a long run, and I want each of you to know it’s been my pleasure to serve. I’m genuinely humbled to have added my efforts to MFA’s accomplishments. For any success I might have had, I first give credit to the good Lord. He is the one who has allowed me to be where I am today.

Don Copenhaver is the retiring president and CEO of MFA Incorporated.

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