After nearly 25 years as president of Watkins Wellness, Steve Hammock is set to retire in the coming months.
Hammock will end his term as president on Dec. 31. After that, he will continue to serve full-time in an emeritus position until April 1, 2022. He may serve beyond that date, which is yet to be determined.
On January 1, Watkins Executive Vice President VJ Teenarsipur will become president.
Hammock joined the company in 1982 as a marketing assistant and moved up the ranks, becoming president in 1997.
The company has undergone many changes in that time. "We happened to make one product way back in 1982," Hammock said. "When I say one product, I mean one model and one color. It was called Z Hot Spring Spa. ... We were a very tiny company back then."
The product line has grown substantially, covering virtually every price point and category. The company's physical presence has also expanded multiple-fold. "It’s a funny story I tell – that I started in a 14,000-square-foot metal building on a dirt road next to a chicken farm -- and that's true," he said.
Now the company, which has always been headquartered in the San Diego area, is building a new plant, after which it will occupy 1.2 million square feet of space among five facilities in a 70-mile radius. It additionally has properties in Philadelphia, the U.K., Belgium, New Zealand and Mexico.
"We’re truly an international company, so you couldn’ t look at us today and even say it’s the same place," Hammock said.
When he started, the company generated approximately $6 million per year. That figure has multiplied about 100 times, Hammock said. "We’re way bigger than we were, but at the time we were big for our space" he said. "We’ve been in a leadership position in this industry for 35, 36 years in a row."
Key to the company's growth were three major acquisitions under his leadership: Caldera Spas in 1999, American Hydrotherapy Systems, and Endless Pools in 2015.
The benefits of hot tubs has motivated him over his 40 years in the industry. "We like to look at it as if we’re selling giant bowls of medicine," he said. "I’ve been a committed disciple for this industry and our products for a long time, and that’s what’s kept me motivated. I really think if everybody knew what I know about the value of sitting in hot water for 15 to 20 minutes a day, then everybody would have one."
After his time with Watkins ends, Hammock expects to begin some part-time business pursuits, which he is currently planning. They likely will be outside the hot tub and pool industry.
"My full-time career is coming to an end," he said. "My wife and I are going to take the opportunity to do a lot of things that we’ve had to put on the sidelines as I’ve been working and we’ve been raising our kids. It’s time now, while we’re still young enough to enjoy the fruits of our labor, if you will."
Watkins and Hammock have been planning his transition for about two years, when Hammock let the company know of his plans to retire. Teenarsipur was hired shortly thereafter with the intent to prepare him for the president role.
Teenarsipur has been with the company for approximately a year, and Hammock has known him for 11 years. He has served as vice president of digital marketing for Delta Faucet and chief marketing officer for Kichler Lighting, both owned by Masco, the equity firm that also owns Watkins.
"He’s done an outstanding job of getting up to speed," Hammock said. "He’s got a huge get-it factor. He’s a person with superior intellect... and a person of great character. So we go into this transition very excited about him and where he’ll take the business next."
