From grandfather to father to son, supplier Lacks Enterprises has passed through 60 years of family management.
But as it prepares for a new era of growth plans, the Grand Rapids, Mich., producer of vehicle exterior trims and interior finishes has handed over leadership to non-family executives.
In addition to its existing core businesses, Lacks is preparing to expand into a new industry segment, producing carbon-fiber wheels. The company acquired Emergent Carbon Wheels of Kansas City, Kan., in 2018.
That move positions Lacks to be more of a player in electrification, since carbon wheels offer new lightweighting opportunities.