“Complacency can set in — and I’m not saying it did, but it could. And fresh ideas can come from new blood coming in in leadership.”

Randy Knecht, the former CEO of Journey Group, retired at the end of 2025 after more than 30 years with the company.

He started as the chief financial officer back when the company still held the name of Sioux Falls Construction, then took over as CEO in 2010.

Over a month into his retirement, Knecht joined an episode of our podcast, Common Cents on the Prairie™, to share his reasons for stepping down.

A chance for others to lead

“I had been in this role for, you know, 15-plus years,” Knecht said. “I honestly think that’s a little too long, and especially if you’re not a family-owned organization, to be the leader.”

As he looked around the company, Knecht added, he saw younger leaders who deserved to step into that role.

“We had a lot of success, but, at some point, others deserved the opportunity to lead as well,” he said. “So, I think that’s what started it for me.”

These conversations began a couple years ago. At the time, he anticipated retiring in 2027.

Then, Knecht said, “we were embarking on a new strategic plan in 2025. The timing just seemed right to bring new leaders in.”

Even with the expedited timeline, the CEO transition went as well as Knecht could’ve hoped.

“The learning curve for our new CEO was relatively short and small because he had been part of our leadership team for five years,” Knecht said. “…I couldn’t have asked for it to go any better, and so that just made it a little bit easier to step away.”

Stepping down from CEO

“The thing I started thinking about is, I still have two boys at home, right?” Knecht said. “I’ve got Gavin, who’s an eighth grader now, and Dylan, who’s a junior, that — hey, I could be spending a lot more time with them while they’re still at home yet.”

As he thought about spending more time with his kids (four in total) and his wife, Tamara, Knecht began to see a clearer picture for his retirement.

He would, however, miss the daily interactions with the company’s team members and clients.

“Thirty days in, I noticed already that we just don’t have all those interactions,” Knecht said. “That gets replaced, though, with more family time, more time with my friends, more time to maybe do some of the things that I didn’t have time to do before.”

He also admits that he doesn’t have an actual plan for retirement yet, but that he’s not in any hurry to make one.

In the recent years leading up to his retirement, Knecht turned to the advice of coaches, mentors, and friends who have gone through it themselves.

“Like, okay, you’ve been through this. What advice would you give me? What would you do differently if you had to go through this again?” Knecht said.

The best advice he received through that process was this: “don’t try to have it all figured out before you retire.”

The reason is because you can’t fully focus on what’s next while your mind is preoccupied with the daily responsibilities of work.

This was certainly the case for Knecht, who is now starting to think in more detail about what retirement will look like for him.

“Being away from it, even just for 30 days, my head’s a little bit more clear now,” he said. “There’s just not as much…grind or chaos that’s happening. That’s not there. So, I think I’ll be able to process it a little bit better.”

To hear more of Knecht’s career and retirement journeys, watch the full episode of Common Cents on the Prairie at the player below or listen on Apple Podcasts.

And if you’re thinking about what retirement could look like for you — whether you’re a CEO or not — our team at First National Wealth Management can help you consider the future more clearly. Send us a note!

Any comments, insights, or strategies discussed in this article are intended to be general in nature and, therefore, may not be suitable for you and your situation, whatever that may be. Before acting on anything written here, please consult with your attorney, CPA, and/or your financial advisor.