Amsoil founder steps down as president and CEO
Amsoil Inc. of Superior announced a changing of the guard in management Tuesday, as its 91-year-old founder, Al Amatuzio, steps down from his post as president and CEO of the company.
Amatuzio will retain his position as chairman of the board but will be succeeded by Alan Amatuzio and Dean Alexander, who have been named Amsoil’s co-presidents.
The privately-held company employs 315 people nationally, with 265 of them in the Twin Ports area. Amsoil does not disclose its financial information. Hoover’s Business Data reported that the company boasts revenues estimated to be in excess of $115 million, but Ed Newman, Amsoil’s advertising manager, said: “We’re a ways north of that.”
Amsoil manufactures and distributes a full line of synthetic lubricants, and the business continues to grow into new international markets, with sales now in 50 countries. Its products have become a staple in varied applications, from automobiles to wind turbines.
Al Amatuzio launched the company in 1972 and it has grown every year since its inception, Newman said.
“I just felt that after 43 years, it was time to step down,” the senior Amatuzio said in a statement issued Tuesday. “The company is an industry leader, and I am confident it will continue to grow. I am leaving it in capable hands. Dean and Alan have been directly involved in guiding Amsoil for several years.”
Alan Amatuzio, one of Al’s sons, has been employed at Amsoil for more than 25 years in a number of roles, including maintenance, production and several executive positions, most recently as executive vice president and chief operating officer. He earned a degree in business administration with a marketing concentration from the University of Minnesota Duluth and is most actively involved in operations, technical development and production aspects of the business.
Alexander has worked at Amsoil for 35 years. He has held posts in distribution, international sales and executive roles, including executive vice president and chief financial officer. Alexander also completed his studies at UMD, where he earned a degree in business management with an economics concentration. He focuses on finance, customer service, sales and marketing at Amsoil.
Al Amatuzio, a Duluth native and former jet fighter pilot, built the company by drawing on his knowledge of synthetic oil and the advantages of its use in aircraft engines, including reduced engine wear, high performance in extreme temperatures and long life. He figured synthetic oil could yield similar results in automobiles — and he was right.
Amsoil has grown steadily, using a multi-level marketing strategy in which representatives are paid not only on the basis of the sales they directly generate but also on the additional salespeople they recruit.