Fort Wayne-based Ambassador Enterprises has appointed its board chair as its next CEO, succeeding the private equity firm’s founder.
Jeff Albert, who currently serves as CEO of affiliated investment management company Solv Holdings, was announced Friday as the parent company’s new leader. He succeeds Daryle Doden, who had announced in August 2024 his intention of stepping down after leading Ambassador Enterprises since its 2006 founding.
“Jeff’s proven leadership and deep understanding of our values and vision make him the ideal person to lead Ambassador Enterprises into its next chapter,” Doden said in a news release. “His contributions to Solv Holdings and the broader AE ecosystem have been invaluable. I am confident that under his guidance, AE will continue to thrive and expand its positive impact.”
Albert has served as CEO of Solv Holdings since its inception in 2019. The firm now posts annual revenues of over $1 billion and has more than 2,000 employees spread across multiple companies, the company said. Before Solv, Albert held leadership roles with mechanical contractor Wagner-Meinert, Harris Rebar, Ambassador Steel, and Lincoln Financial Group.
He also is the board chair for AE Holdings.
“I am honored to take on this new responsibility,” Albert said in the release. “Ambassador Enterprises has built an extraordinary legacy under Daryle’s leadership, and I look forward to working with the talented team at AE to continue building on that foundation.”
Ambassador Enterprises posted annual revenue of $2.2 billion and has more than 4,700 employees across its affiliated companies, according to its annual report.
The CEO search was conducted in partnership with CarterBaldwin Executive Search, the news release said, but Albert’s senior leadership experience and alignment with company values and vision stood out.
Meanwhile, Solv Holdings announced that Mike Butchko will succeed Albert as CEO. Butchko most recently served as chief financial officer for Ambassador Enterprises.