As the century and Roy Jr’s tenure as CEO culminated, Southwire pioneered work in the development of next generation power lines, also known as superconductivity. Working with the U.S. Department of Energy, Oak Ridge National Laboratory and other industrial partners, Southwire developed superconductor power cable technology and introduced the first real-world application of superconductors in February 2000.
In the year 2001, the first CEO from outside of the Richards family, Stuart Thorn, was named. Thorn led Southwire’s drive for innovation through new products, like SIMpull Solutions®, shared-value educational initiatives and diversified growth. In 2016, Thorn retired, and Rich Stinson was named as Southwire’s CEO, bringing three decades of industrial manufacturing experience to the company. Stinson has further developed Southwire’s strategic plan focused on the core business, adjacent solutions and services and transformational forces that will drive the future of our industry.
Currently, the company is owned by family members and governed by a ten member board of mostly independent directors. The family is deeply committed to staying independent and very competitive in this global industry, and is actively engaging the next generation of Richards owners and entrepreneurs.