San Antonio Businesses Foster Long-Term Stability Amid CEO Changes
In the vibrant city of San Antonio, economic development leaders are stepping up their efforts to ensure that two of the region’s major companies, USAA and Whataburger, continue to thrive despite upcoming changes in their leadership. The proactive approach comes on the heels of a previous corporate exit that still resonates in the local business community.
A Lesson Learned from AT&T
Back in 2008, San Antonio faced a significant setback when AT&T Inc. announced, with little warning, that it would be relocating its headquarters to Dallas. At the time, the sudden decision left local leaders scrambling and hoping to retain other corporate entities within the city. The departure of AT&T not only meant the loss of jobs but also a substantial part of the business landscape that San Antonio had come to depend on.
Fast forward to today, and local economic leaders are determined to not let history repeat itself. With the recent announcements regarding CEO retirements at USAA and Whataburger, city leaders are taking a more proactive approach to ensure both companies feel supported and valued in their San Antonio home.
A New Era at Whataburger
Buckle up, because in January, Debbie Stroud will take over as the new CEO of Whataburger, succeeding Ed Nelson, who has led the company for many years. Whataburger, which made its move from Corpus Christi to San Antonio back in 2009, has seen significant growth since then. The company expanded rapidly following the sale of a majority stake to BDT Capital Partners, and it looks like even more growth is on the horizon.
Looking Ahead with USAA
On the other hand, USAA is in a transitional phase as Wayne Peacock, the current CEO, is set to retire in the first half of 2025. While there’s no named successor yet, the multi-state operations of USAA, particularly its notable presence in Phoenix, put additional emphasis on the need for local leaders to maintain close relationships with the company to prevent any chances of an exit.
Community Engagement is Key
Jenna Saucedo-Herrera, the President and CEO of greater:SATX, emphasized the importance of establishing strong communication and support systems for local businesses. “In the short term, it’s an engagement strategy, so they know the level of support that San Antonio is here to provide,” she mentioned. The goal is to ensure that companies like USAA and Whataburger remain committed to San Antonio, fostering a business-friendly environment that promotes retention and growth.
Throughout the years, previous local leaders, including former Bexar County Judge Nelson Wolff and former Mayor Henry Cisneros, voiced warnings about needing better communication with large corporations to understand their evolving needs. What was once a lesson learned from the AT&T incident is now serving to fortify relationships with the existing business community.
The Future Looks Bright
With the groundwork laid for stronger connections and proactive support, Saucedo-Herrera feels optimistic about the future of San Antonio’s corporate landscape. “I believe that both organizations are committed to San Antonio. We just have to continue to make sure that’s the case,” she noted. By fostering these partnerships, local leaders hope to enhance the region and create a space where businesses want to remain long-term.
As San Antonio continues to grow, maintaining robust relationships with its flagship companies is undoubtedly step one in ensuring economic stability and growth. The end goal? A thriving business community that benefits everyone – from executives to the residents of the Alamo City.
