Business Activities
DeVos began working with Amway Corporation in 1974, holding positions in various divisions, including research and development, manufacturing, marketing, sales, and finance. In 1984, he became one of Amway's vice presidents, with overall responsibility for the company's operations in 18 countries. Under his leadership, the company opened numerous new markets and tripled international sales to exceed domestic sales for the first time in company history.
In 1989, DeVos left Amway to start a new business venture, The Windquest Group. When the DeVos family acquired the National Basketball Association's Orlando Magic basketball franchise in 1991, DeVos became President and CEO of the team. He left both positions in January 1993 to rejoin Amway as its President, succeeding his father, Amway co-founder Rich DeVos. Under DeVos, Alticor expanded operations to more than 50 countries and territories on six continents.
In 2000, DeVos oversaw a significant corporate restructuring that created Alticor, the new parent company of predecessor Amway, as well as other subsidiary companies. In a 20-month span, Alticor cut over 1,300 jobs (primarily in Michigan) during this restructuring, with 400 of them being buyouts and early retirement. Job cuts were one of several cut backs made during the corporate restructuring of Amway in order to expedite the return to profitability and prevent further downsizing or the possible loss of the company.
DeVos retired as president of Alticor in August 2002. In that fiscal year, Alticor reported sales of $4.5 billion, primarily through its more than 3.5 million mostly part-time sales force and its complementary e-commerce channel. After retiring from Alticor, DeVos returned to become president of The Windquest Group.
He is the author of the 1998 book Rediscovering American Values.
Read more about this topic: Dick De Vos
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