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1/7/2026
Watco today announced several changes to its executive leadership team that took effect Jan. 1.
CEO Dan Smith has assumed the responsibilities of executive chairman of Watco’s board while continuing in his role as CEO. Smith joined Watco in 2009 and became CEO in 2018.
Additional leadership transitions include that of Rick Baden, who previously served as executive vice president and chief financial officer and has now assumed the role of EVP and vice chairman. Baden has served Watco since 2004.
Andy Nielsen, formerly EVP and chief accounting officer, transitions to EVP and CFO. In his new capacity, Nielsen is responsible for overseeing Watco’s finance, treasury, capital allocation and investor relations functions. Nielsen joined Watco in 2015.
The executive leadership changes were made to further strengthen the company's management team, Watco officials said in a press release.
Rachael Peterson remains EVP and chief business officer, continuing to lead Watco operations, safety, marketing and communications and people services. Nick Coomes remains EVP and chief solutions officer, continuing to lead sales and customer solutions, project design and engineering, real estate and industrial development, and information technology. Peterson joined the company in 2006, and Coomes joined in 2014.
“I’m honored to continue to build on Watco’s strong foundation,” said Smith. “I’m grateful for the opportunity to work alongside this team and to help position Watco for its next chapter of success.”