LOUISVILLE, Ky. — Michael Yates, president and owner of Louisville-based Industrial Belting & Transmission, passed away unexpectedly on Tuesday, June 30, his family announced Thursday. Yates was 62.
He began his 37-year career at Industrial Belting & Transmission in 1983 as an inside sales person. In 2015 he purchased the company and became president. Among his achievements, Yates lead the company to win numerous industry awards including being named ABB Dodge Market Maker in 2015 and 2018, the only Market Maker to win more than once, and in 2016 Yates won the W.C. “Duke” DuComb Leadership Award.
Industrial Belting & Transmission will announce transition plans in the coming weeks.
“Mike was a dynamic and successful business leader, but much more importantly than that, he was a great man and a great friend,” said Kyle Sobke, sales director for Dodge Bearings and Power Transmission. “When I first began working in my current role with independent distributors around the country, Mike was one of the first people to reach out to me to welcome me. We forged a friendship that was built around business and our personal interests, especially our mutual love of college football. Mike will truly be missed by his friends at ABB Dodge.”
Yates was known for his strong work ethic, product knowledge and personable nature. He was a dedicated salesman and one of the most respected men in the industry.
“We’ve lost more than just a leader we’ve lost a dear friend. He will be missed but we will strive to continue his vision and honor his legacy,” said Denise McAuliffe, sales and applications/mechanical products manager for Industrial Belting & Transmission.
Yates was an avid University of Louisville fan, attending football games with family and friends. He has two sons, Dwayne and David, and one grandson, Roy Michael.
Funeral arrangements are yet to be determined. Out of respect for the family’s privacy at this difficult time please direct all inquiries to Rick Garrity, VP of sales and marketing, at (502) 386-2547 or (502) 456-6100 ext. 1274