Richard Schumacher

Richard Schumacher has a strong background in strategic sourcing and procurement. Richard currently serves as the Head of Strategic Sourcing at Webster Bank since 2018. Prior to their current role, they worked at GE Capital for several years in various leadership positions. From 2009 to 2017, they were the Global Strategic Sourcing Leader, where they managed a large indirect spend and supplier network. From 2003 to 2009, they were the Global Buy to Pay Leader at GE Money, responsible for implementing policies and strategies to improve productivity. In 2001, they served as the Vice President of Procurement at GE Capital Card Services, overseeing a $1B purchase base. Before that, they held the position of World Wide Sourcing Leader at GE Capital - Wards, where they successfully implemented cost reduction efforts. Richard has also served as the Global Initiatives Leader at GE Capital, leading the global roll out of the Strategic Sourcing Initiative. Richard'scareer at GE began as an Auditor, assessing controllership and financial statement integrity. Richard also worked as a Commodity Leader and a Production Engineer at GE Electrical Distribution & Control. Throughout their career, they have demonstrated strong leadership, strategic thinking, and a focus on cost reduction and productivity improvement.

Richard Schumacher has a Bachelor of Science degree in Mechanical Engineering from the University of Connecticut and a Master of Business Administration degree in Finance from the University of Hartford.