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July 17, 2017

U.S. News

Amway’s Steve Van Andel to Retire in 2018

Photo above: Steve Van Andel (left) and Co-CEO Doug DeVos with Michigan’s Hillsdale College inset. The college’s graduate school bears Van Andel’s name.

Ada, Michigan-based Amway, the No. 1 direct seller in the world, recently announced that Co-CEO Steve Van Andel will retire at the end of 2018.

The early announcement is intended to give the company time to determine who will take over his role as Co-CEO, a position he shares with Doug DeVos. Van Andel plans to remain as Chairman of the Board while stepping away from his day-to-day duties. DeVos also serves as President.

“My goal is to stay engaged,” Van Andel told The Grand Rapids Press. “I love the Amway business. I love being part of it. I love what Amway does and what Amway stands for.”

Van Andel has worked for Amway for 45 years and has served as Co-CEO since 1995, when he succeeded his late father, Jay, who co-founded the company with Rich DeVos, father of Doug DeVos.

“Both our dads told us don’t ever forget two heads are better than one, and that probably helped out our partnership,” he said.

Van Andel said a decision hasn’t been made if one of his siblings—Nan, David or Barb—or someone outside the family would take over the Co-CEO responsibilities. David Van Andel is Founder and CEO of the Van Andel Institute in downtown Grand Rapids.

“Will there be something else? Who knows,” Van Andel said. “I haven’t really thought that far ahead yet to figure out if just time with my family is enough or if there needs to be something else. We’ve got a year and half before I think about what is next.”