Tuscaloosa, Ala.—Randall-Reilly Business Media & Information, publisher of Equipment World and owner of business intelligence brand Equipment Data Associates, has reorganized its business and promoted two executives.
The restructuring organizes the company into what Randall-Reilly is calling six “centers of excellence:” audience development, business intelligence, content, custom marketing solutions, events and interactive.
Brent Reilly, who was recently promoted to president of Randall-Reilly, said in an interview the company wanted to unlock the value of certain areas of expertise that had previously been “siloed” in one business unit. “With events, we produce three trade shows and 25 total events, ranging from symposiums to custom conferences, but all of these events were domiciled in the trucking business,” Reilly said. With the new structure, he hopes to create more events in the construction unit.
Additionally, Randall-Reilly plans for EDA, a database of equipment that has been purchased using financing, to be used more seamlessly across Randall-Reilly's trucking and construction media businesses. He also hinted that Randall-Reilly may be looking to acquire into markets—such as agriculture—that have similar characteristics to the trucking and construction industries, which each have equipment manufacturers, dealers, end users and a robust aftermarket.
As part of this change in structure, Shane Elmore, formerly CFO, is now chief process officer. He will encourage collaboration across centers of excellence, Reilly said.
Additionally, David Wright, formerly COO, is now chief administration officer. Mike Reilly, Brent's father, remains chairman-CEO.
The company has also moved into marketing services. For example, two years ago, Randall-Reilly acquired Real Time Content, which helps marketers create interactive video sales presentations.
Brent Reilly emphasized the structural changes were not cosmetic, but a genuinely new approach to the business. “The companies we're competing with today, I don't see them as our competitors in the future,” he said.