ExecutiveBiz featured Doug Wagoner, president and CEO of LMI and a three-time Wash100 Award winner, in its most recent Executive Spotlight interview published Tuesday. He talked about the company’s decision to create an independent nonprofit and a for-profit organization still operating under the LMI brand. The Q&A also tackled how the move could drive collaboration, value for customers and new opportunities and growth.
Here’s an excerpt from the interview with Wagoner:
“Back in 2020, LMI created a strategy focused on growing our company to $750 million by the end of 2025… [Our shift to solution development and providing solutions] has been part of our plans since the Board of Directors started this back in 2017 or 2018. The intention was to begin to operate more like a business than a traditional nonprofit because we have a lot of great capabilities. There are a lot of talented people here at LMI and there is so much more we could be doing if we took a more business-minded approach.
In addition, we’ve made some significant investments in business development. LMI has also started hiring a different type of executive with years of experience across the marketplace in a for-profit environment versus nonprofit. That was the start of a growth trajectory for LMI into today.”
Visit ExecutiveBiz.com to read the full Executive Spotlight interview with LMI President and CEO Doug Wagoner, and don’t miss our other interviews with the most significant executives of consequence to the GovCon sector.