A giant in business was laid to rest earlier this week. Alexander Giacco, 93, transformed once sleepy Hercules Incorporated a few decades ago.
It would take more than a few pages to describe his career, but here is a quick and incomplete summary.
An Italian immigrant who arrived in Connecticut with his family, he was a classic American success story.
He joined Hercules after graduating from Virginia Tech. As he moved up the ranks, he saw potential in a company that lived in the shadow of DuPont.
As CEO, he made Hercules into a fast-moving multinational company and became the prototypical hard-driving global business executive, taking plastics company Himont and making it into a global player before its Italian partner bought out Hercules’ interest.
Giacco ended up running the Italian company for a time.
By the time I arrived a quarter a century ago, Giacco had mostly moved on from Hercules, although he still cast a large shadow locally. His battle to build the signature Hercules Plaza in downtown and perhaps move the company out of state was still being talked about.
He remained active in family businesses that employed innovative technology. He also gave back to the community, helping to restore the Grant Opera House and being part of the effort to start the Delaware Community Foundation.
About a decade ago, I had the privilege of interviewing Giacco when he released his book “Maverick Management,” an autobiography and management guide. By that time, many companies had adopted some of the principles he pioneered at Hercules.
Still armed with his ability to see the big picture, Giacco had some pointed some pointed opinions about decisions that came after his departure at Hercules, especially the decision to sell off its rocket operations. Looking back, Giacco was probably right, although he would have been wheeling and dealing to make that division into a global player.
In the end, Hercules had a few missteps and ended up being part of Ashland, a company that has kept a solid presence in Delaware.
Giacco spent his final years, surrounded by a close family. Sadly many in a new generation of leaders did not get to know him.
We are now left with memories of a strong-willed, larger-than-life business leader who made Delaware a better place. – Doug Rainey
