MADISON HEIGHTS, Mich. – May 9 – The trustees of the National Association of Investors Corporation (NAIC) announced today that Richard A. Holthaus, 60, will retire as chairman and chief executive officer, effective June 30. The Board has requested he stay through June 30 to ensure a smooth transition. NAIC is well known by its brand identity, BetterInvesting.
“The management team has completed many of the tasks required to transform BetterInvesting into the largest, most comprehensive and highly respected education organization in the world,” Holthaus said. “I’m proud of our team’s accomplishments.”
“My decision to retire was largely influenced by my desire to spend more time with my four sons, who are living all over the world, something I could not do because of the demands of the job at NAIC,” said Holthaus.In addition to spending more time with his family, Holthaus indicated he would remain active in the St. Louis area, his hometown, as a volunteer at the local and national levels, both with NAIC and with other nonprofit organizations.“I will be able to spend more time in a volunteer mode which I find rewarding and fulfilling.”
“We thank Mr. Holthaus for his more than 20 years of service, first as a board member and then as chairman and chief executive officer.He helped pave the way for NAIC to take greater advantage of the World Wide Web in the delivery of investment education,” said Bonnie Reyes, NAIC’s BetterInvesting president and chief operating officer.
“I believe NAIC’s BetterInvesting is poised for significant growth as it moves to deliver investment education more effectively and efficiently,” said Holthaus, “and I am proud to have played a part in expanding the organization’s outreach efforts.Now it is time for someone else to step forward and complete the transition.”
The trustees elected Beth Hamm, daughter of NAIC founder George Nicholson, acting chairman, and they will initiate a national search for a new chairman and CEO.In the interim, the trustees have directed Bonnie Reyes to oversee all operations and programs.
“We remain committed to our mission of creating a nation of educated individual investors.NAIC’s BetterInvesting is a ‘big tent,” said Reyes. “We continue to support fully our core constituents — our investment clubs and our volunteers — while, at the same time, we are introducing new and innovative programs to reach out to millions of additional individual investors through the power of online investment education.”
BetterInvesting is the brand identity of the National Association of Investors Corporation, a national, nonprofit association with members consisting of investment clubs and individual investors. Founded in 1951 and with headquarters in Madison Heights, Mich., BetterInvesting is considered the pioneer of the modern investment club movement, as well as the voice of the individual investor. BetterInvesting is dedicated to providing a sound program of investment education and information to help its members become successful long-term, lifetime investors. The BetterInvesting community currently consists of more than 131,000 individual members, and more than 13,000 investment clubs.
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