TODAY'S PAPER
43° Good Afternoon
43° Good Afternoon
Business

Dominique Schulte named CEO of Lynbrook-based Janel Corp.

Schulte, who became CEO on Oct. 1, is one of only two women among the chief executives at the 50 largest publicly traded companies on Long Island.

Real estate shot of Janel Corp. offices in

Real estate shot of Janel Corp. offices in Lynbrook. Thursday Oct. 11, 2018. A lawyer and investment company executive, Dominique Schulte of Oaxaca Group, has been named CEO of Janel Corp., becoming the second woman to take the helm of a public company on Long Island. Photo Credit: Newsday/Alejandra Villa Loarca

Dominique Schulte, a lawyer and investment company executive, has been named chief executive of Janel Corp.

Schulte's elevation to CEO and president, effective Oct. 1, made her one of only two women among the chief executives at the 50 largest publicly traded companies on Long Island.

The 45-year-old is a managing member of Manhattan-based Oaxaca Group LLC. Oaxaca Group held 78.8 percent of Janel's stock as of Thursday,  according to Bloomberg.

Janel's stock market value stood recently at $4.5 million. It was the 29th largest Long Island public company, based on 2017 revenue of $77.8 million.

The Lynbrook-based company provides cargo logistics services through air, ocean and ground carriers.  On its website it describes itself as a  "publicly traded holding company seeking to acquire and support exceptional businesses for the long term."

Schulte succeeded Brendan J. Killackey, 44, who remains with Janel as chief information officer and a member of the board of directors.

Calls to Schulte and the company were not returned.

Helena Santos, president and CEO of Scientific Industries Inc., a Bohemia-based maker and marketer of mixers, shakers and incubators used in laboratories, is the only other female chief executive among Long Island's 50 largest public companies. Santos has held her post since August 2002. 

"I felt this was an opportunity of a lifetime to be CEO and president of an albeit small, but still public, company," Santos said Thursday in an interview. "I looked at it as a wonderful opportunity, especially for me as a woman."

Mary Hauptman, president of a Melville-based advocacy nonprofit, the Long Island Center for Business and Professional Women, said that while it's "alarming" that only two women are among the CEOs of the largest public companies here, those who do ascend to the top corporate job can inspire others.

"It shows other women it can be done," she said.

The number of CEO positions held by women in the Standard & Poor's 500 in 2017 climbed to a record 27 from 26 the previous year, according to a study by The Conference Board, a not-for-profit corporate researcher.

The study said that "gender parity remains elusive in corporate leadership," noting that if the rate of increase from 2001 to 2017 were to continue, "there would still be fewer than 100 women CEOs of S&P 500 companies in 2034."

Janel posted revenue of $22.5 million and a net loss of $128,033 for the quarter ended June 30.

Schulte joined Janel's board of directors in November 2015 and became its chair in May. From 1999 through 2009, she worked at the law firm of Manhattan-based Simpson Thacher & Bartlett LLP, specializing in corporate and securities law.

More news