Managing for the long haul - Beedle's legacy

Posted: Tuesday, January 18, 2000

Joe Beedle will leave Goldbelt in better shape than he found it when he took over as president and chief executive officer nearly six years ago. And that is all any CEO could hope for.

Although there are and always will be bumps in the road for all organizations, Goldbelt is in good condition, with diverse investments and opportunities that will launch it into its next period of expansion.

One of the most important changes in the past few years is the physical presence of Goldbelt in the community, and what that presence has meant to shareholders. Goldbelt is now a major player on the Juneau waterfront, with buildings, a hotel and tram, all signs of ownership in the community, and a positive symbol for shareholders. Credit Beedle for leading the vision that has brought the Goldbelt name and logo to prominence, for putting Goldbelt on the map.

As important, but harder to define, is the change that has taken place within the organization's corporate culture. Goldbelt is now more proactive, more open, more forthcoming with shareholders and the public than it has ever been. The corporation's culture has grown in sophistication, and with Beedle's leadership, there is no hiding under a rock. He has made it his mission to keep the door open, keep the communication with shareholders flowing, and if sometimes that means criticism, Beedle has taken it in stride. That's effective leadership.

Goldbelt shareholders have much to be proud of, but they also must remember to make decisions that benefit the organization's health in the long term. The recent downturn in some of Goldbelt's investments should be seen with some historical perspective, and with maturity to recognize that the fortunes of the corporation will ebb and flow over time. Whether or not dividends should be paid to shareholders during this cycle is debatable; it may be wiser to hold off on temporary gains to strengthen the health of the organization.

Patience, openness, leadership and vision are characteristics that Beedle brought with him to Goldbelt - these are qualities we hope will remain as part of the corporation's heritage.

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