CHICAGO — Ernst & Young L.L.P. has named Paul Reitz, CEO of Titan International Inc., an Entrepreneur of the Year 2023 Midwest Award winner.
The annual award recognizes entrepreneurs and leaders of high-growth companies.
Reitz was selected by an independent judging panel made up of previous award winners, CEOs, investors and other regional business leaders, Ernst & Young said.
The candidates were evaluated based on their demonstration of building long-term value through entrepreneurial spirit, purpose, growth and impact, among other core contributions and attributes.
"This is truly an honor to be personally recognized, but ultimately, it's a testament to the fact that we have an exceptional team in place at Titan," Reitz said.
"I couldn't be more proud to lead the One Titan team that is deeply committed to serving our customers with market-leading products and successfully navigated a challenging business climate the past few years. Our One Titan team has been on a transformative journey that has positioned us well for the future."
Under Reitz's leadership, Titan reached record sales ($2.17 billion), adjusted EBITDA ($253 million), adjusted net income ($140 million) and free cash flow ($114 million) in 2022.
Since joining Titan as chief financial officer in 2010 — and later promoted to president in 2014 and CEO in 2017 — Reitz has spearheaded a number of global and strategic initiatives that have improved operating efficiency drastically and financial health for the company, Titan said, including:
- Helped solidify the licensing agreement expansion with Goodyear to allow Titan the ability to distribute the Goodyear Farm Tire brand into 127 additional countries.
- Launched the One Titan framework — an internal initiative that brought together the company's global team in a way that significantly improved collaboration, efficiency and decision-making.
- Safely remained in operation after being deemed critical infrastructure by numerous national governments during the COVID-19 pandemic.
- Fortified Titan's balance sheet from a position of weakness to a strength with healthy cash flow, low debt leverage profile and the ability to drive strong future capital allocation, including organic/inorganic growth opportunities.
- Developed a framework and built a team responsible for defining environmental, social and governance (ESG) global corporate strategy while aligning with numerous United Nations Global Compact policies.
As a Midwest award-winner, Reitz is now eligible for consideration for the Entrepreneur of the Year 2023 National Awards.
The National Award winners, including the Entrepreneur of the Year National Overall Award winner, will be announced in November at the Strategic Growth Forum, a gathering of high-growth, market-leading companies. The Entrepreneur of the Year National Overall Award winner will then move on to compete for the World Entrepreneur Of The Year Award in June 2024.
