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SmartCEO Magazine Presents Future 50 Award To Firestone Financial's David Cohen

Posted On: 6/17/2016

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TAGS: Firstone Financial, David Cohen, SmartCEO award, 2016 Boston Future 50 Awards, vending, amusement machines, Berkshire Hills Bancorp

Firstone Financial, David Cohen, SmartCEO award
David Cohen
BOSTON -- One of the biggest challenges faced by Firestone Financial's president and chief executive is to recruit and hire employees who want to work for a company whose product -- financing -- is considered boring. Yet at Firestone, which specializes in financing vending machines, arcade games and other industrial equipment, the employee retention period averages nine years.

Attracting and retaining great talent can make or break a midsize company, but Cohen has been able to do both. For this reason, among others, Firestone has been recognized as one of the fastest-growing midsize companies in greater Boston by SmartCEO magazine, which this week presented one of its 2016 Boston Future 50 Awards to Cohen.

The companies led by the Future 50 honorees collectively generate about $3.4 billion in annual revenue and employ more than 12,400 people. They have all experienced revenue and employee growth over the past three years.

To help mitigate the recruitment challenges in the "unexciting" world of commercial equipment financing, Firestone hired a human resources director and uses the Predictive Index, a skill and behavior assessment test. Cohen says both steps have improved the company's hiring practices. And by enabling employees to do their jobs, and making them responsible and accountable, Cohen has created excitement at Firestone. | SEE STORY

Founded in 1965, Needham, MA-based Firestone became part of Berkshire Hills Bancorp in June 2015. Cohen has been with Firestone for almost 30 years. He is also a past-president of the American Amusement Machine Association and chairs the trade group's charitable foundation.