OMAHA, Neb. (Jan. 29, 2020) – Scoular’s Board of Directors this month appointed its first outside member: Doug Stark, the recently retired CEO of Farm Credit Services of America.
As the 127-year-old Scoular executes its strategic plan of growing its core business, while launching high-growth products and investments, the Board sought talent who could provide additional leadership and innovative perspectives. The addition of Stark to Scoular’s Board reinforces the company’s long-standing commitment to strategically growing the company. This is the first time the company has added an outside Board member who is neither a current or former company executive, nor a member of one of Scoular’s founding families.
Stark is well-positioned to serve on the company’s nine-member board because of his record of innovation and deep financial and agricultural industry knowledge, said Scoular’s Chairman of the Board, David Faith. “I am thrilled that Doug is lending his expertise and energy to Scoular’s Board of Directors, which is committed to growing and strengthening our company,” Faith said.
Stark became CEO and president of FCSAmerica in 2005 and retired in 2018. FCSAmerica is an Omaha-based, member-owned financial cooperative that provides credit and insurance services to farmers and ranchers in Nebraska, Iowa, South Dakota and Wyoming.
Stark is credited with improving the organization’s finances, internal culture, professional development and business processes and technology. For example, during Stark’s tenure as CEO, FCSAmerica’s assets increased from $9.7 billion to $25.8 billion over an 11-year period, and profits increased from $100 million to $550 million. Stark also led the organization in expanding its innovation pipeline, which included the development of technology-driven credit processes that drove decision times to seconds for much of the FCSAmerica portfolio. He also led the company during the creation of Ag Direct, FCSAmerica’s co-branded machine and equipment financing program.
“Doug built a dynamic operation by leveraging technology, developing employee culture and strengthening FCSAmerica’s financial stability,” said Scoular CEO Paul Maass. “Those focus areas align with Scoular’s objectives, making Doug a great fit for our board. I am looking forward to the addition of Doug’s perspectives and insights to our board as we make well-rounded decisions and innovate in the agriculture industry.”