VIDEO: Forcht honored as Leader of the Year

A Corbin businessman responsible for the formation of 95 companies that employ over 2,100 people statewide was named as the tri-county Leader of the Year last week by a non-profit organization focused on fostering leadership in southeastern Kentucky.

Terry Forcht, President and CEO of Forcht Group of Kentucky, accepted the Leadership Tri-County top honor during a special banquet at the Corbin Center for Technology and Community Activities last Thursday.

In his keynote speech to about 200 attendees, Forcht said hard work, long hours, vision, honesty and philanthropy are some of the keys to being an effective leader. Giving a modified version of a speech called “The Pathway to Wealth,” Forcht gave a treatise for those who seek to be good leaders. Number one on the list – lead by example.

“I think you have to work harder than anybody else in your organization,” Forcht said.
He gave the group his personal work schedule, which included being at the office by 5:30 a.m. and working until 6:30 p.m. Forcht said he works on weekends as well.

He added that leaders also have to have vision and need to keep a positive attitude.

“You have to know where your company is going and you have to be able to communicate this vision with other people,” he said. “It is easy to sit around and complain about the bad economy or whine about this and that, but you have to stay positive and you have to set a tone for the whole company.”

Despite the economic downtown, Forcht said his network of banks were likely the most profitable in Kentucky this past year. Likewise, his others businesses in the areas of elderly care, pharmaceutical distribution, finance, media and information technology performed strong.

Forcht also noted that staying in touch with people, setting goals, honesty and holding people accountable were important facets of being a leader.

Forcht said that Forcht Group has thrived over the years because of its core philosophy.

“Our philosophy is you hire the best people you can, you guide them and challenge them and keep a positive attitude,” he said. “If you do this, you are well on your way to becoming an effective leader.”
Forcht was honored by Kentucky State Senator Tom Jensen who called him “an honest man” with “true character.”

“It’s not just all business with him,” Jensen said. “I think maybe the mark of his greatness is that he does have that character and honor about him.”

Dr. James Taylor, University of the Cumberlands President and Leadership Tri-County’s Leader of the Year in 2001, said Forcht has been a mentor and provider for many in the area.

“He has never forgotten the people of our area,” Taylor said. “Not only has Terry Forcht achieved great personal success … he has work diligently and risked much to provide opportunity to others. We are all beneficiaries of his tireless work and devotion.”

Taylor unveiled a portrait of Terry and his wife Marion that will hang on a wall at the college in a building made possible by a donation made to the school by the Forchts.

Representatives from the offices of U.S. Senators Mitch McConnell and Jim Bunning also sent regards.
Forcht, originally a native of Louisville, is a graduate of Shawnee High School. He earned his Bachelor degree and law degree from the University of Louisville. He also holds and MBA from the University of Miami in Florida.

Forcht and his family moved to Corbin after he graduated from UofL and he began teaching classes at Cumberland College and later opened his own law practice.

In 1972, he created what is now Forcht Group of Kentucky. He opened his first nursing home that year. In 1985, the company opened its first bank. Today, Forcht Bank has 34 banking centers in 11 Kentucky counties and more than $1 billion in assets.

Leadership Tri-County was formed in 1987 by Dr. William Hacker, Tom Handy and Jim Oaks after they attended a conference on leadership sponsored by the Kentucky Chamber of Commerce in 1985. The Leader of the Year honor is named after Hacker.

Previous recipients include McConnell, Major General Donald Storm, KCEOC Executive Director Paul Dole, UNITE and PRIDE Director Karen Engle, former Corbin Economic Development Director Bob Terrell, State Representative Charles Siler and U.S. Representative Harold “Hal” Rogers.