Bridging the gap: new management team strengthens ASRC.

AuthorStricker, Julie
PositionNATIVE BUSINESS - Arctic Slope Regional Corp

Arctic Slope Regional Corp. is a force in Alaska business. It is the largest Alaskan-owned company, employing more than 10,000 people worldwide with revenues of more than $2.3 billion in fiscal year 2010.

It has prospered over the past 40 years, despite economic, governmental and regulatory challenges, led by the insight of former Board Chairman Oliver Leavitt and Chief Executive Officer Jacob Adams.

One of its recent goals is to double its already formidable economic influence, and ready to face the challenge is an executive management team in which almost every seat has changed hands in the past two years.

In some corporations, so much change at the top would be called a corporate shakeup. At ASRC, it's indicative of the strength and growth of its officers and a sign of the climate of training and cooperation within ASRC.

"While it probably seems externally there seems to have been a monumental role change," said Tara Sweeney, senior vice president of external affairs, "internally it's more like shifting chairs and putting people into positions where they can drive the most value."

FROM ANCHORAGE TO BARROW

The Barrow-based corporation, with administrative offices in Anchorage, is preparing to enter its 40th year, young enough for today's leaders to have learned first-hand from its founders what it takes to build a successful business. In a way, they've grown up with Arctic Slope.

"Collectively, all of us, we've mentored underneath the senior leadership team, which are basically the people who brought the corporation up from its very beginning," said Richard Glenn, executive vice president in charge of lands and natural resources.

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Geri Storer, chief of operations, went through an ASRC management-training program and worked closely with former CEOs Adams and Leavitt. She also spent time working at Exxon and Shell Oil, which gives her a broad perspective of the industries and issues ASRC must deal with.

"We're still operating with the same value system, the same discipline with regards to investments and financial management of our assets," Storer said.

"We're largely a people-based business. We spend a lot of time communicating with our shareholders."

Arctic Slope Regional Corp. was created by the 1971 Alaska Native Claims Settlement Act. Under ANCSA, Alaska's indigenous peoples received title to 44 million acres of land and $962.5 million, which was divided between 12 regional and more than 200 village corporations to settle aboriginal land claims.

OIL-RICH LANDS

Arctic Slope, which has its land base on the oil-rich North Slope, has been one of the most successful Alaska Native regional corporations. Its diverse portfolio of companies operates in...

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