The Family Business CEOs to Watch Class of 2023 recognizes 23 exceptional business leaders. The CEOs honored run the gamut of family business leadership, from entrepreneurial founders to fifth-generation stewards of a multifaceted enterprise to non-family executives trusted by the family ownership group to lead and expand their operations.
Richard L. Schmidt Jr.
CEO and Chairman | Fourth generation | CG Schmidt, Milwaukee, Wis.
Rick Schmidt served on the board of directors of CG Schmidt, a construction management firm, for 10 years before joining the company as president in 2006. Previously, he worked for construction and engineering firm Payne & Dolan Inc., where he served as vice president and regional manager. He received a bachelor’s degree in civil engineering from Marquette University and is a registered professional engineer in Wisconsin.
CG Schmidt, with offices in Madison and Milwaukee, provides construction management, general construction and design-build services. The company’s notable projects during Schmidt’s tenure include Northwestern Mutual Tower and Commons, the Milwaukee Art Museum Calatrava addition, the Milwaukee Public Market, Columbia St. Mary’s Hospital, University of Wisconsin-Madison South Campus Union and Medical College of Wisconsin Hub for Collaborative Medicine.
Schmidt has been a mentor to up-and-coming leaders at the company, including his sons, Ryan, a project executive, and Brad, a senior project manager. He serves as chairman of the board of trustees of the Building Trades Pension Trust Fund and is a member of the Marquette University College of Engineering Thought Leaders Council and the Greater Milwaukee Committee. He is a past president of the Associated General Contractors of Greater Milwaukee and serves on its Education and Research Foundation Board, in addition to serving on several non-profit boards.
“My father’s commitment to improving the lives of others is evident by his day-to-day values along with his involvement in the communities where we work,” says Brad Schmidt. “From a young age, he instilled in me the values that he brings to CG Schmidt, values of caring, integrity, accountability and excellence.”
“My great-grandfather founded CG Schmidt in 1920. Being immersed in this legacy from an early age prompted my interest in contributing to the industry in some way,” Rick Schmidt says. “Always knowing I would stay close and connected to the family business, I took time to carve out my own path at a leading road-building company, while at the same time serving on CG Schmidt’s board of directors. When I was asked to succeed my father at CG Schmidt, I jumped at the opportunity to help carry on the family legacy.
“My experience growing up in the family business showed me how the company had thrived and succeeded by balancing change with continuity, so my goal as a leader has been to champion growth and innovation while remaining firmly grounded in the lessons and values that have sustained CG Schmidt through the generations. For me, all of this is built on a foundation of caring — caring about our employees, our clients and the communities where we work. Our mission is to create exceptional facilities that improve the lives of others. I’m proud of our company and our employees’ commitment to carrying out our mission through exceptional service to our clients and in giving back to the communities we serve.”