Manufacturing
Group president
Milwaukee Tool | Brookfield
Steve Richman has led Milwaukee Tool, the fast-growing Brookfield-based tool manufacturer, as its group president since 2007. This year alone, it expanded its R&D operations in Menomonee Falls, began occupying a downtown Milwaukee office to house 1,200 employees and opened a hand-tool plant in West Bend, which is expected to create 150 jobs and marks a return of manufacturing activity to the Milwaukee area for the brand. Milwaukee Tool revenue has grown year over year, to about $8 billion in 2021.
Education: Bachelor’s, UCLA
What was your first job, and what did you learn from it?
"As a kid, I started a yard work business. I began working on lawns and hired additional people to take on more work/yards. I learned 1) Customer expectations and communication are absolutely critical. And 2) How to deal with employees not performing."
What piece of advice has had the most significant impact on your career?
"Hard work! Doing what you say you are going to do! Both of these up the ante. Also, understand how you are balancing working on today vs the future."
If you could have dinner with any two business leaders, who would you choose and why?
"John Wooden Re: Best in class leadership. Bill Gates Re: How to think about the future."
What are some of your favorite destinations/places to visit?
"Italy… Florence, Sicily, food, wine, and people."
What is one book you think everyone should read and why?
"I have two: 'Disruptive Innovation' by Clayton Christianson, and 'Radical Candor' by Kim Scott."
What’s your hobby/passion?
"Family first. People .. how do I help people grow? How can I do my part to help change society in a positive way? Health. Tennis, Peloton. Sports - UCLA, Dodgers."
What is your favorite Wisconsin restaurant and what do you order there?
"Carnevor in downtown Milwaukee. I'd share the bone in and the tuna with one of my associates at Milwaukee Tool."
What was your first car?
"Ford Maverick"
If you could take a one-year sabbatical, what would you do?
"I would live in different cities throughout Europe."
What’s the toughest business challenge you’ve had to overcome?
"The agility to respond to current demands and keep the focus on the long-term success of the business."
What advice would you give to a young professional?
"Ask questions, stop talking. Develop mentors. It is up to you."
Is there a nonprofit cause that has special meaning to you?
"Milwaukee Academy of Science. (CEO) Anthony McHenry and team have led the education of the youth of Milwaukee. The MAS team has disrupted the ordinary approach to education and they are changing Milwaukee in a positive way."
What’s at the top of your bucket list? “
"Going to see a UCLA basketball victory in the Final Four. Winning the championship!"
What has you most excited about the future?
"Helping leaders grow at Milwaukee Tool."
