Garry Ridge doesn’t define sales for WD-40 Co. in terms of international and domestic markets.
“I only see one market, and it’s global,” says Ridge, president and CEO. “I prefer to say that we are a global company headquartered in San Diego, Calif.”
A strong global vision has been one of the keys to his success in transforming WD-40 from a company with a single product to a firm that successfully operates in the worldwide marketplace with multiple brands.
Growing a company like WD-40 was a challenge that not many CEOs would want to take on. Consider the scenario: There was the brand dominance of the product, a lubricant used in most households, which had been on store shelves for more than 40 years.
That product positioning had garnered strong margins, and when combined with fairly conservative expense management, the company had consistently produced a nice return for shareholders with little risk. Expansion would require changing the company’s philosophy, increasing investments, taking more risk and potentially breaking something that was not already broken.
Ridge had been with WD-40 for almost 10 years before being named CEO. He had worked in international marketing at the firm, and coming from inside the company had its advantages.
He was familiar with the company culture and the obstacles to expanding the firm’s stagnant sales, and he used that knowledge in creating his growth plan.
“Our shareholders had been used to making a profit, and I knew that they wouldn’t take too kindly to giving that up, so I had to move more slowly and strategically,” says Ridge.