How do we learn from the best in our industry? How do we take insights from top executives and apply them to our businesses? These were some of the key questions we explored at the NAW Executive Summit, where I had the pleasure of speaking with Danna Stone, Senior Vice President of Marketing at Graybar, about the most valuable takeaways from the event.
NAW Executive Summit 2025: A Gathering of Industry Leaders
The NAW Executive Summit is one of the most anticipated events for distributors and wholesalers. It’s an opportunity to engage with thought leaders, learn from their successes and challenges, and gain a fresh perspective on the industry.
Danna and I started our conversation by discussing the PAC Breakfast session. The presence of two freshman senators brought an interesting perspective to the conversation, particularly on policies impacting businesses. They highlighted the importance of fresh talent and new perspectives in both politics and business, a theme that resonated deeply with us.
One of the most refreshing aspects of the discussion was the senators’ pro-business stance. They addressed tax reforms and policies affecting the distribution industry, including LIFO (Last-In, First-Out), which is particularly relevant to Graybar. Danna expressed optimism about the direction of these policies and how they could benefit businesses moving forward.
CEO Panel: Cybersecurity, Mergers, and Workforce Trends
One of the standout sessions at the summit was the CEO panel, which covered a broad range of topics from cybersecurity to mergers and acquisitions (M&A) and workforce challenges. As Danna pointed out, what made this panel exceptional was the ability of these leaders to simplify complex issues, making them relatable and actionable for businesses of all sizes.
Julian Francis’ insights on cybersecurity were particularly impactful. Many distributors don’t view cybersecurity as a core concern, yet it has become a business-critical issue. Julian shared how his company, Beacon, prioritizes cybersecurity, emphasizing the importance of proactive measures. A comment that stood out to both of us was about the simple yet effective “phishing button” that helps employees identify and report potential threats quickly.
Danna reinforced that cybersecurity should be a top investment priority, for large enterprises, for mid-sized and smaller distributors. A cyberattack can shut down operations instantly, leading to devastating financial consequences. The cost of prevention is far lower than the cost of recovery.
The conversation also touched on M&A, a topic that has become increasingly relevant in distribution. One of the panelists at NAW mentioned that over 76 acquisitions had taken place in the last few years. As the industry consolidates, understanding the dynamics of successful acquisitions becomes crucial for long-term growth. For distributors, M&A is not just about expansion—it’s about staying competitive in an evolving marketplace.
M&A Trends and Strategies in Distribution
Mergers and acquisitions have become a dominant strategy in distribution, as companies seek to scale, diversify, and enhance operational efficiency. Some key trends include:
- Strategic Acquisitions for Market Expansion: Many distributors are acquiring businesses to expand their geographic reach or enter new verticals. By purchasing established companies, they gain an immediate foothold in new markets without the challenges of building from scratch.
- Technology-Driven Acquisitions: With digital transformation at the forefront, distributors are acquiring technology companies to enhance eCommerce, automation, and data analytics capabilities. These acquisitions allow traditional businesses to stay competitive in an increasingly digital world.
- Private Equity Influence: The role of private equity in distribution M&A has grown significantly. Many PE firms are acquiring and consolidating smaller distributors, streamlining operations, and driving growth through better management and technology integration.
Successful Case Studies
- Graybar’s Expansion Strategy: Graybar has leveraged M&A to strengthen its market presence and expand its product offerings. By acquiring regional distributors, the company has enhanced its supply chain and improved service capabilities.
- Beacon Roofing Supply’s Growth Through Acquisitions: Beacon has aggressively pursued acquisitions to expand its footprint in the building materials industry. Their strategy of acquiring both independent distributors and digital.
For distributors considering M&A, the key to success lies in strategic planning, due diligence, and post-merger integration. Ensuring cultural alignment and leveraging technology to streamline operations can make acquisitions more effective and drive long-term growth.
Also see: Learnings from the NAW Executive Summit 2024 in Washington D.C.
The Role of Technology in Distribution
Another important discussion revolved around mobile technology adoption. Kevin at Fleetpride shared how digital solutions are transforming customer experiences. In a world where instant access to information is expected, businesses must provide real-time data to customers, whether it’s checking inventory availability or locating the nearest service provider. Danna emphasized how crucial it is to adapt to changing customer expectations, particularly with younger generations demanding seamless mobile experiences.
Leadership Lessons from Oscar Munoz
One of the most inspiring sessions was the conversation between Oscar Munoz, former CEO of United Airlines, and NAW President Eric Hoplin. Oscar’s leadership journey and his approach to turning around United Airlines were full of invaluable lessons.
A key takeaway from his talk was the importance of human connections in business. Whether leading an airline, a railroad, or a distribution company, at the core of every organization are people. Oscar shared how listening to employees, understanding their challenges, and engaging with them on a personal level led to significant positive changes at United.
Another powerful message from Oscar was: “It’s never too late to do the right thing.” Even if mistakes are made, leadership is about acknowledging them and taking corrective action. That’s a lesson every business leader can take to heart.
The Energy and Evolution of NAW
Under the leadership of Eric Hoplin, the event continues to evolve and set a higher bar each year. The energy, enthusiasm, and quality of discussions made it a truly valuable experience.
The chance to watch top CEOs discuss challenges, strategies, and innovations in real time is an unparalleled learning opportunity. These discussions not only provide insights but also serve as a reminder of the rapid changes shaping the distribution industry.
Final Thoughts
Reflecting on my conversation with Danna and the broader themes of the summit, a few key lessons stand out:
- Stay adaptable. Whether it’s embracing cybersecurity, digital transformation, or new business models, staying ahead requires adaptability.
- Invest in your people. Leadership is about more than just strategy—it’s about connecting with your team and empowering them to succeed.
- Never stop learning. Industry events like NAW provide a wealth of knowledge, but the real value comes from applying those lessons in our businesses.
Attending the NAW Executive Summit reinforced the importance of continuous learning and proactive leadership. I look forward to seeing how these insights shape our industry.
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