You could say that Kim Blickenstaff has come a long way from Spring Bay. To Times Square in New York City, to be precise.
by Mike Bailey
Blickenstaff, the central Illinois-born, San Diego-based entrepreneur and philanthropist who has made headline after headline locally for his investments in the Peoria area over the last two years, was recently honored as a 2020 Director of the Year by the Corporate Directors Forum for “outstanding performance in the boardroom and behind the scenes.”
That distinction earned him vaunted videowall status earlier this month at NASDAQ MarketSite, the iconic home of the NASDAQ stock exchange at 4 Times Square in Manhattan.
Blickenstaff received the recognition for his work at Tandem Diabetes Care, Inc., where he has served as Chairman of the Board since March of this year. Prior to that, he was President and CEO at Tandem from 2007 to 2019, at which point he became Executive Chairman.
Specifically, Blickenstaff was celebrated in the category of “Enhancement of Economic Value.” He certainly has accomplished that at Tandem, known primarily for its state-of-the-art insulin pump. Indeed, Blickenstaff presided over a company that generated $362 million in revenue in 2019, nearly doubling its sales over the year before. The company remains on a record revenue pace for 2020, with sales expected to approach half a billion dollars.
In a remarkable year-long run starting in March 2018, Tandem’s stock price grew by an astounding 1,700 percent – from $4.04 per share in mid-March 2018 to $73.15 in mid-March 2019 – topping out at more than $118 a share in October of this year. As of this past week, the price still topped $90 per share.
That outcome was never guaranteed. Indeed, Blickenstaff engineered a complete turnaround of the company, to the delight of employees and shareholders, after Tandem hit something of a nadir in 2016.
Prior to Tandem, Blickenstaff enjoyed a successful top executive stint at Biosite. He’s served on multiple boards of directors, among them Tandem, Medivation, Inc., DexCom, Inc., and NuvationBio, Inc. Earlier this year, he was named to the board of his alma mater, Loyola University of Chicago.
The California-based Corporate Directors Forum is dedicated to the proposition that “better directors make boards more effective, and more effective boards make better corporations.” For nearly 30 years, it has sought to improve corporate governance through continuous education and peer networking. Blickenstaff and the other winners were nominated by their industry peers.
“The process is very thorough, and we were delighted that such a deserving candidate was recognized in the category of ‘Enhancement of Economic Value,’” said Christina de Vaca, CEO of Corporate Directors Forum.
“I’ve known Tandem Diabetes Care since 2009 and have been honored to witness its success ... When I think of Tandem, what comes to mind first is its greatcompany culture. The team truly cares about one another, their clients and the community,” said Todd Bennett, a division director at professional services firm Marsh & McClennan, in introducing the award. “A strong culture like that is guided by its leadership.”
“Kim has built a number of remarkable companies,” said John Sheridan, Tandem’s current CEO. “His ability to foster a culture of respect and collaboration makes him a standout leader in a company, the boardroom and the investment community. His quick wit can disarm even the most stone-faced investors.
“He has a passion for improving people’s lives, which drives his vision for turning novel ideas into multi-billion-dollar organizations, benefiting hundreds of thousands.”
“I’m flattered and honored, of course,” said Blickenstaff. “We’ve assembled a great team at Tandem, and so I share this recognition with them. We also have a great team at KDB Group in central Illinois, and I am very much looking forward to what we can accomplish here.”
Blickenstaff has made quite the splash since making a very public return to his roots in late 2018, with multiple projects in the works. They include the Betty Jayne Brimmer Center for the Performing Arts in Peoria Heights, the Sankoty Lakes Resort and Retreat in his hometown of Spring Bay, and the Scottish Rite Theatre in Peoria, which are open or nearing completion. Also on the drawing board is a unique boutique hotel in Peoria Heights, among other developments.
Blickenstaff’s generosity also has been exhibited through investments in local biotech and medical start-ups and through various philanthropic donations.
