DOWAGIAC — The CEO since the founding of Mno-Bmadsen, the non-gaming economic development and investment arm of the Pokagon Band of Potawatomi, is resigning his post to take a role at a similar tribal organization in Washington.
Troy Clay’s last day at Mno-Bmadsen is Jan. 18, after which he will join Kingston, Wash.-based Noo-Kayet Development Corp. as its chief executive. Clay was a founding board member of Mno-Bmadsen in 2012 and was selected to lead the organization shortly thereafter.
Under his leadership, Mno-Bmadsen launched its own companies as well as acquired outside firms under a buy and hold investment strategy. Today, the portfolio companies generate more than $140 million in combined revenues and employ in excess of 300 people, mostly in Michigan, Indiana and Illinois.
“Our core values of making the company a problem-solving, opportunity-seizing, and reputable investment vehicle that builds the generational wealth of the tribe for future citizens has led us on the path toward success,” Clay said in a statement.
Mno-Bmadsen’s portfolio includes Kalamazoo-based Seven Generations Architecture & Engineering, St. Charles, Ill.-based WBK Engineering, Rolling Prairie, Ind.-based mechanical contractor D.A. Dodd LLC, Mishawaka, Ind.-based Accu-Mold Inc. and Michiana Global Mold, Fraser, Mich.-based precision machining manufacturer Enmark Tool & Gage Co., and Dowagiac-based Red Tail Properties and Bent Tree Market.
CFO Julio Martinez, a five-year veteran of the firm, will serve as acting CEO of Mno-Bmadsen.
“Troy used his pioneering vision and leadership skills to turn an idea from a decade ago into a diversified portfolio of investment holdings,” Martinez said in a statement, adding that the firm is well-positioned to continue its growth.
A Western Michigan University graduate and U.S. Navy veteran, Clay will take the CEO role of Noo-Kayet Development Corp., based across Puget Sound from Seattle in western Washington. The firm serves as the economic development arm of the Port Gamble S’Klallam Tribe.
In the new role, Clay will manage the firm’s existing companies, including The Point Casino & Hotel and other retail and real estate ventures, as well as work to source investment opportunities to help diversify the tribe’s economy.
“After sitting down with the (NKDC) Board and explaining my leadership philosophy, how I value and manage employees, and my overall business philosophy, we clicked,” Clay said in a statement. “The Board wants to diversify and grow what they have. I have the experience of building a diversification arm from scratch. It’s a good fit and I’m excited about the work ahead.”