Jodi Taylor, CFO of The Container Store—renowned for its “conscious capitalism” ethic and its appearance on countless “best places to work” lists—is an unabashed fan of Melissa Reiff, who succeeded Kip Tindell as the company CEO last year. Taylor says she’s seen Reiff meet with a group of 50 people for the first time, then recall each person’s name—as well as small details about them—at the end of the get-together. “I think that’s why she’s been so successful as a leader,” Taylor says. “She engenders loyalty.”
That loyalty is being tested these days, though, as the home-storage retailer has struggled through some tough times after going public in 2013. Disappointed in part by the slow growth in its number of stores, for example, Wall Street hammered the Dallas company’s stock price, hard. After trading in the $45 per share range four years ago, the price fell like a broken elevator to the mid-single digits. In response, Reiff imposed some unprecedented “tough love” measures—including a wage freeze and the company’s first-ever layoffs.
Whether the 62-year-old Reiff has the right stuff to see The Container Store through its challenges long-term is anyone’s guess. It’s also the subject of Joseph Guinto’s feature story, “Thawing Out The Container Store,” in the October issue of D CEO magazine. You can check out Joe’s illuminating article right here.
