Secretary Schafer joined Gold Seal after he earned his MBA and held a series of management positions with the company before becoming president in 1978. Under his leadership, Gold Seal's sales climbed to $50 million through acquisitions and new product introductions and its net worth tripled. It was sold in 1986. Schafer then went on to launch several new businesses, including a commercial real estate development company, a fish farm and a classic car dealership