The American businesswoman managed to restructure her company to lead the market in her country after having suffered losses of 43 million dollars.
Maggie Hardy She is the director of the leading construction materials company in the United States, 84 Lumber. His mandate rescued the company from the crisis it suffered due to the recession caused by the mortgage bubble of 2009. The restructuring he imposed managed to go from a loss of 43 million dollars to 101 million profits.
This difficult process took the American four years.. His difficult decisions, both moral and financial, included laying off more than half of his employees, closing about 250 stores, and having to sell his real estate company. This path allowed them to reposition themselves as leaders in construction and broke their sales record in 2020. Despite the Covid-19 context, the North American company generated profits of 3.9 billion dollars.
The story of Maggie Hardy and her ability to revive an old family business
The current leader of 84 Lumber is the daughter of the company’s founder, Joseph Hardy III. She was involved in construction from a very young age. and dropped out of West Virginia University to work at a branch in Pennsylvania. There he applied all the knowledge he had picked up from his father’s childhood and quickly rose through the ranks of the company.
Maggy managed to reach the top position of the company in 1992.With her at the helm, they were able to break the barrier of 1,000 million dollars in profits. In just six years, they were able to win two awards as the Leading Company in the Distribution of Construction Materials. In addition, they closed the decade with the International Award for Excellence in Exportation in Pennsylvania.
The early days of The 2000s were a resounding success for 84 Lumber due to the increase in construction that occurred worldwide. In 2002, they generated 2 billion dollars and increased their profits by 50% by 2004. This provided the opportunity to begin a gigantic expansion plan that would coincide with the beginning of the American crisis in 2008.
How much is Maggie Hardy’s fortune, according to Forbes
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Forbes
After overcoming the difficult situation at 84 Lumber, Maggie Hardy managed to return to the top of the list of the most influential businesswomen in the United States. Forbes magazine estimates his fortune at $3.6 billion.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
