CBE’s owner and chairman, Tom Penaluna, has passed the torch after holding the role for over 35 years.
11/04/2022 1:15 P.M.
1.5 minute read
CBE Companies, an ACA International member company based in Cedar Falls, Iowa, announced today that its president Erica Parks has been appointed to president and CEO of the company.
CBE’s owner and chairman, Tom Penaluna, has passed the torch after holding the role for over 35 years, though he will remain closely involved as he continues to provide oversight and vision to the company, oversee the Board of Directors, and participate on the company’s Board of Advisors.
“I am excited for and confident in Erica and her management team continuing and exceeding the success CBE has been blessed with over the years,” Penaluna said.
Parks has held several leadership roles since joining CBE in 2013, including vice president of finance, chief financial officer, and most recently, president. Parks and the executive management team are responsible for executing the overall business plan and driving results for all stakeholders.
“Over the last several years, CBE has undergone a pivotal transformation and we have a very exciting future ahead,” Parks said. “I am honored to lead this organization and fulfill the vision of Tom, our owner and chairman. CBE is firmly positioned for growth as we execute on our strategic plan over the next five years.”
Prior to joining CBE, Parks held roles at McGladrey (now RSM) as well as John Deere. She is a certified public accountant, serves on the Cedar Valley United Way Board of Directors and Finance Committee, and the Executive Committee for Cedar Valley Women Connect, Women Lead Change. She and her husband also operate their own 501c3 nonprofit, All About the Kids. Parks is a member of the American Institute of CPAs, Iowa Society of CPAs and the Institute of Management Accountants.
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