AccuVal-LiquiTec, a leading provider of valuation, advisory and liquidation services, announced today that Rick Schmitt has been named the firm’s president and chief executive officer.

Mr. Schmitt, a cofounder of AccuVal-LiquiTec, previously served as the firm’s chief operating officer for 25 years. In that role, he oversaw the production of all appraisal, liquidation and consulting engagements and was responsible for driving the achievement of the firm’s profitability goals. He succeeds Andy Gronik, who has left the company after 25 years of service.

With more than 30 years of experience valuing assets and developing liquidation strategies for secured lenders, private equity groups, attorneys and corporations around the globe, Mr. Schmitt is a trusted and respected industry expert. He has managed multinational evaluations of manufacturing and retail inventories, entire businesses, product lines, trademarks, patents, machinery and equipment, and real property. As an expert witness, he has extensive litigation-support experience testifying before numerous federal bankruptcy courts, civil courts and tax authorities. He also has directed numerous appraisals involving true lease analysis and valuations of assets at lease inceptions, buyouts and residual valuations.

“I am honored to continue my leadership responsibilities in the role of president and CEO, as AccuVal-LiquiTec enjoys its next chapter of growth,” said Mr. Schmitt. “AccuVal-LiquiTec has long been recognized as a leader for its highly reputable staff, unparalleled transaction database and versatile approach to doing business. I look forward to working with the company’s highly experienced executive team and staff as we continue innovating in the industry to provide well supported appraisals and more lucrative asset sale strategies for our clients.”