Toy Maker Founder Steps Down From Position
Will stay on as creative consultant for low-tech toy company
The next four decades included Schylling expanding his sidewalk operation into a multimillion dollar enterprise that held his own name, Schylling Inc. However, the philosophy of the company, based off his own beliefs and interest in toys, has not changed one bit.
“We don’t make toys that are based on computer chips,” Schylling said, sitting in a conference room of his Rowley company that is lined with hundreds of his company’s painted metal robots, toy racing cars, and rubber duckies. “We like the more traditional toys where your imagination fills in the blanks.”
These days, Schylling's company is entering a new venture and phase. Last week the company announced the investment firm of Crofton Capital LLC of Newton and Gladstone Investment Corp. of McLean, VA are now in acquisition of the Schylling company.
As the takeover begins, the 63-year-old owner will be stepping back, but not completely away from the company. He has now resigned as president and will take on a less formal role. Officially, he will be considers a “creative consultant” and expects to be in the office daily, with simply less intensive logistic work to concern himself with.
“I see this as the next step, seeing the company being nurtured by a new team,” Schylling said. “This is passing the torch for me.”
Both Schylling and his brothers will keep a large portion of stake in the company, and says the amount is “certainly enough to keep us motivated,” Schylling said. David Schylling will stay on in the business development department, while Tom Schylling will work as the Chief Financial Officer for the company.
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