John R. Loftus wants to acquire other precious metal companies
DGSE Companies has appointed John R. Loftus as its chairman, CEO, and president—the company’s fourth head in the last three years.
Loftus replaces Matthew M. Peakes, who became CEO last September. Peakes is resigning from the board and will transition into the role of executive vice president and director of acquisitions. Peakes’ predecessor, James D. “Dusty” Clem, also served a little over a year.
Loftus served as CEO of Elemental LLC from 2012 to 2015. Peakes also worked for that company.
In a statement, Loftus said he plans to “focus on strategic or transformative acquisitions of smaller competitors, subsidiaries, or other complementary businesses. The targets may include retail or wholesale entities, likely focusing on precious metal–related businesses in the near term.”