Parman Holdings Corporation’s CEO Stephen L. Moore announced he will step aside on Dec. 31, retaining the Executive Chairman role. Company veteran Rachel J. Hockenberger takes the helm.

Parman Holdings is a 100 percent  employee-owned holding company with headquarters in Nashville, TN. Current operations include energy distribution (Parman Energy Group) and a heavy equipment dealership (Parman Tractor & Equipment).

Moore said: "It has been an exciting journey to transition ownership of Parman to its employees and to champion growth in the energy sector and our diversification into equipment sales and leasing. We have an excellent leadership team at both operating companies and Rachel is uniquely qualified to lead the holding company and vet additional core growth opportunities and further diversification strategies."

Hockenberger, currently Chief Financial Officer at Parman Holdings, added; "I know that I speak for everyone at Parman in thanking Steve for his leadership and dedication to the company. I am incredibly excited to assume this new role and for the future of our brand. We have an exceptionally talented team at Parman. A team focused on taking decisive actions to transform the business, continuing to strengthen our brand in new and diverse ways, and unlocking future growth opportunities. We remain confident in our employee ownership platform, and I believe we are taking the right steps to move the business forward."

The Parman companies currently operate in the Southeast and in Minnesota and has $180 million in annual revenues and 175 employees.