It’s official. Meredith Allen has passed the leadership baton at Staplcotn to Hank Reichle.
Reichle’s elevation to president and chief executive officer, which has been expected for months, was approved Wednesday by the board of the Greenwood-based cotton cooperative, the same day that Allen retired.
“I am proud to have been a part of developing and maintaining an extremely strong management team who will continue to keep Staplcotn as one of the premier cotton marketing companies in the world,” said Allen, who has worked for Staplcotn for 33 years, the last eight as its chief executive.
Reichle, who joined the cooperative in 2004 and has been serving as executive vice president since 2016, said he hopes to build on the successful relationships that Allen forged with Staplcotn’s members and employees.
“Cooperatives have nothing if members don’t trust them to provide good returns and equitable treatment among members. And producers don’t market crops with companies that they don’t trust to perform,” Reichle said. “Our highest priority will be to not just maintain the lofty level of trust and confidence that Meredith enhanced so greatly but to continue to increase it.”
He added, “Another top priority for me personally will be to keep a focus on our employees. We have great people because we have a first-class work environment. I think Meredith truly created a winning corporate culture at Staplcotn, and I want to keep it that way.”
Reichle is a Columbus native and graduate of the University of Mississippi. Before joining Staplcotn, he began his career in Memphis with the accounting firm Ernst and Young. He then worked for a web-based cotton exchange, The Seam, where he became its chief financial officer.
Founded in 1921, Staplcotn is the oldest cotton marketing cooperative in the United States. It currently has nearly 7,000 farm accounts in an 11-state area. Its warehousing operation covers 13 locations in six states. It markets approximately 3 million bales of cotton annually.
Reichle said that Staplcotn and its lending arm, Stapldiscount, are proud to be headquartered in Greenwood.
“Our presence wedged between Cotton Row and Market Street could not be more fitting for a company with such a rich legacy and long history,” he said. “As one of the larger employers in Greenwood, our staff will continue to engage with other organizations to better our community. ... Being an excellent corporate citizen will continue to be a focus.”
•Contact Mitch Robinson at 581-7235 or mrobinson@gwcommonwealth.com.
