Hodgdon Powder Co. today announced the future retirement of Hodgdon Chief Executive Officer Tom Shepherd as part of the company’s succession planning process. On December 31, 2017, Shepherd will retire from his current position and transition into his new role as chairman of the board of directors of Hodgdon Powder Company.

“Tom has been our chief executive officer for nearly 15 years, serving in this role since 2002,” said Bob Hodgdon, current Hodgdon chairman of the board. “In his tenure, Tom has lead us to record sales growth and positioned Hodgdon for the future. We have been working on this succession plan for some time now, and the entire Hodgdon family, the Hodgdon board and all Hodgdon employees are excited for Tom as he prepares for the next stage of his career with Hodgdon.” Bob and JB will continue to serve on the Hodgdon board.

As part of the succession planning process, Hodgdon is now moving forward with a search for a new chief executive officer. This search will include both internal and external candidates and is expected to conclude by mid-year 2017.