Hoffer Plastics' Gretchen Farb among Crain's Notable Women in Finance for 2019
SOUTH ELGIN, IL - Hoffer Plastics announced today that Gretchen Farb, Chief Financial Officer and Vice President of Value Creation, has been selected among Crain's 2019 Notable Women in Finance. Farb was selected among 30 top female senior leaders employed at an investment bank, institutional money manager, exchange, trading firm, institutional asset owner or corporate finance department. Honorees were drawn from the nomination materials submitted by their colleagues.
At Hoffer Plastics, Farb oversees the finances of the plastic injection molding, the Hoffer Foundation, as well as the company's investments and its 401(k) plan. In the last 12 to 18 months, Farb integrated new enterprise resource planning software and helped lead the company to a record year, with 12.5 percent revenue growth. Farb joined Hoffer in 2003 as director of supply chain management and was promoted to her current position in 2014.
"We are incredibly proud of Gretchen's selection to Crain's 2019 Notable Women in Finance. Throughout her more than 25-year career, Gretchen has distinguished herself as a leader in both the success of our family-owned business and our commitment to community," said William Hoffer, CEO of Hoffer Plastics.
Farb has been instrumental in Hoffer Plastics' award-winning sustainability program. Her leadership in developing Hoffer Plastics' zero waste campaign has led the company to generate more than $300,000 a year in energy and resource efficiency cost savings and was awarded an Illinois Governor's Sustainability Award in 2015.
Outside of Hoffer Plastics, Farb serves on the Board of Directors for the Elgin Boys & Girls Club. She is the proud wife of Adam and mother of two girls.
Gretchen added, "I'm incredibly humbled and honored to be included with these accomplished, inspiring women. I view this accolade as a challenge and a call to action to continue to do my best to make a positive impact for our company, our employee family, and our community."
About Hoffer Plastics:
In 1953, after following a successful corporate career in manufacturing, "Bob" and wife Helen Hoffer set out to create a business that was focused on service to others: Putting the needs of customers, employees and the community first. They believed that, by doing so, successful business and financial results would naturally follow. Sixty-five years later, it turns out they were right. Hoffer Plastics has grown to become an industry leader and innovator in the custom injection molding industry.
Today, we employ more than 350 people in our 365,000-square-foot facility on 24 acres. We produce more than three billion plastic parts annually and ship to countries around the globe. We have a consistent 99% on-time delivery record and have pioneered numerous product innovations, including the Trust-T-Lok line of safety closures for flexible pouch packages. Over the years, we're proud to have been honored with numerous awards, including "Family Business of the Year," Plastic News "Processor of the Year" and in 2016, the Illinois Governor's Sustainability Award.