Richard Panico, Founder, President, and CEO, Integrated Project Management Company, Inc.
November 17, 2011
Rich Panico began his professional career in 1973 at Johnson & Johnson in Chicago, Illinois. He served in the manufacturing, engineering and maintenance groups of the Consumer Products Division, eventually rising to a senior management position in the Personal Products Division.
As he became a leader within the company's operations organization, Rich developed a reputation for building strong, cohesive teams; promoting high standards of quality and performance; and emphasizing the value of relationships based on honesty and trust.
After 15 years of service, Rich left Johnson & Johnson to dedicate himself fully to a new business venture. Recognizing a pressing need across industries for top-drawer project execution, Rich founded Integrated Project Management Company, Inc. (IPM) in 1988, which has since served over 250 clients, led more than 3,500 projects, and continues to grow in business and reputation. Reflecting the culture of integrity that Rich instills, IPM was awarded the 2005 Better Business Bureau’s International Torch Award for Marketplace Ethics and named a finalist for the award in 2010. IPM was also awarded the Chicago Better Business Bureau’s Award for Marketplace Ethics in 2004 and 2009. Inc. 500 Magazine named IPM among the 5,000 fastest growing, privately held companies in the U.S. for five consecutive years (2007-2011) and one of the 100 fastest growing companies in the Chicago Metropolitan area in 2008. In addition, in 2008, IPM was named a “Top Small Workplace” by Winning Workplaces and The Wall Street Journal. In 2010, Rich was the recipient of the William C. Pollard Award for Business Ethics presented by the Oak Brook Executives Breakfast Club and most recently in March of 2011 received into the University of Illinois Chicago’s Entrepreneurial Hall of Fame. Also, in 2010, IPM was the recipient of the American Business Ethics Award by the Financial Services Professional Foundation, and named a “Best Small Workplace” by Great Place to Work Institute and Entrepreneur Magazine.
From 2001 to 2007, Rich served as Chairman of Chicago's DePaul University Institute for Business and Professional Ethics and continues to be an active member of its board of directors. He is actively recruited by organizations to present his philosophies on ethical conduct in the corporate world. Rich recently contributed to the books Entrepreneurship – Values and Responsibility and The Integrity Dividend. A member of Heartland Angels, an early-stage private equity group, Rich regularly advises budding entrepreneurs on how to launch their businesses based on ethical precepts. Appointed to the Board of Directors of Midtronics, Inc. in 2011, Rich was added to the Board for his ability to provide insight to this worldwide leader of innovation in battery management.
Rich has authored several papers on the subjects of leadership, business ethics, project management, innovation, product development, and manufacturing. His interviews and works have appeared in Crain's Chicago Business, IndustryWeek, Projects@Work, Journal of Applied Management and Entrepreneurship, Journal of Leadership and Organization Studies, Pharmaceutical Technology, Plant Engineering, and US Industry Today.