Galen Poss Joins Drake Star Partners to Serve the Association Sector
October 13, 2016
Drake Star Partners, an international investment bank focusing on the technology, media and communications sectors has brought on industry veteran Galen Poss as Senior Advisor.
Poss will focus specifically on the not-for-profit association-owned trades how market and will work closely with Kathleen Thomas, managing partner at Drake Star Partners.
“The association sector comprises more than 60 percent of the U.S trade show market, and an ever increasing number of association executives are exploring options relative to selling or partnering with for-profit organizers,” Thomas said.
She added, “I am delighted to be working with Galen, one of the most respected operators in the tradeshow sector, in serving a community that we believe is underserved. Galen has worked with many associations in his career guiding them and effecting outcomes that have benefitted their constituency greatly. I look forward to providing the platform, team and technical expertise to enable us both to serve this important community more broadly.”
Galen A. Poss, CEM, is vice chairman for dmg events, which owns and operates events globally in the construction and oil/gas sectors.
“In many cases, an association’s annual convention and trade show are not part of the organization’s core mission but are vitally important to funding its initiatives,” Poss said.
He added, “This provides a unique opportunity for the not for profit sector and for-profit organizers to work together in a mutually beneficial relationship. I look forward to working with the team at Drake Star Partners to facilitate these relationships and to serve both portions of the marketplace.”
Previously, Poss was president of Hanley-Wood Exhibitions, a division of Hanley-Wood, LLC from its inception in January 2000 until June of 2009.
Poss was responsible for managing and growing the company's exhibition activities, which are concentrated in the building and construction industry.
During his tenure with Hanley Wood, the Exhibitions Division grew from one show and $11 million in revenue to seventeen events and over $70 million in revenues.
Poss will continue his current duties with dmg in addition to the new responsibilities with Drake Star Partners.
Prior to joining Hanley-Wood Exhibitions, Poss spent six years with the Dallas Division of Miller Freeman, Inc. in Dallas, Texas.
As group president, he had overall responsibility for the real estate, design, decorated apparel, sewn products, building, association management and equine markets, as well as the company's South American division and corporate exhibition central services.
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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