Palm Beach Atlantic University (PBA) is celebrating the 40th year of its tradition of honoring local individuals who embody the values of the American free enterprise system on Nov. 14. This year, PBA will honor Paul Leone, the CEO of The Breakers, as its primary medalist. With his transformative leadership, Leone has been instrumental in turning around one of the world’s top resorts. Kelly Smallridge, president and CEO of the Business Development Board (BDB) of Palm Beach County, and Troy Maschmeyer, CEO of Maschmeyer, Inc., have been selected as companion medalists for their outstanding contributions to economic development and the concrete products industry, respectively.
“PBA is not just within the top six percent of business schools worldwide, having earned AACSB accreditation,” says Dr. Debra A. Schwinn, PBA president. “We share this hallmark of excellence with Ivy League and major state universities, setting a high standard for business education that is rooted in core business skills, servant leadership and integrity. Celebrating American Free Enterprise Day by honoring local business leaders reflects those ideals and gives our students an opportunity to see real-life examples in entrepreneurship and free trade in action through our prestigious medalists.”
Leone is the CEO of the 128-year-old, privately held Breakers Palm Beach, Inc. and its parent company, Flagler System, Inc. Leone has been involved in the hospitality industry since a young age, gaining experience working in his family’s motels and restaurants. Since taking on the CEO role in 2016, he has been recognized for turning around one of the world’s top resorts by developing a unique company culture and achieving excellence in employee fulfillment, guest satisfaction, community service, and financial performance. Additionally, Leone is actively engaged with various civic and professional organizations, receiving widespread recognition for his work.
Smallridge is the most experienced president in economic development in Florida. She has an impressive history of leading major job creation projects. Through her innovative leadership, the Business Development Board (BDB) has transformed the economy of Palm Beach County, receiving recognition at both state and national levels for its efforts in attracting and expanding companies in the region. Smallridge is credited with initiating the Wall Street South initiative, which has brought over 100 financial service firms to Palm Beach County, significantly impacting the area’s economic development.
Maschmeyer has almost 40 years of experience in development. His company, Maschmeyer Concrete of Florida, is a prominent producer of concrete and blocks, operating over 500 trucks and 42 locations. In 2024, his business was ranked #154 among the largest companies headquartered in Florida. In 2021, he was honored with the Hicklin Award for his exceptional commitment, dedication, and contributions to the concrete products industry. Moreover, he has been an active member of various local boards, including the Bath and Tennis Club, the Boys & Girls Clubs of Palm Beach County, Habitat for Humanity, and Tunnel to Towers.
“The real measure of our success at PBA is how we invigorate our local economy and the community through graduates who enter the workforce with values-based leadership that impacts not just corporations but everyone,” Schwinn says. “Paul Leone loves to tell me that he can spot our PBA graduates among the staff working for him at the Breakers. They exemplify true leadership principles and give back to their community. It’s especially rewarding to hear these comments as we work to further enhance our commitment to the Palm Beaches. The new Marshall and Vera Lea Rinker Business Hall, set for completion in spring 2026 as part of our downtown West Palm Beach campus expansion, marks a significant step in our ongoing commitment to the Palm Beaches. This development is celebrated as part of our 40th anniversary, recognizing both our future and the local leaders shaped by PBA.”
This year’s AFE Day, a significant event for the local community, is set to take place at the PBA’s Rubin Arena. The ceremony will kick off at 11 a.m. with patriotic music and Paul Leone as the main speaker, followed by lunch at 12:30 p.m. Attendance is free and donations can be made to support the God-Sized Dreams campaign or student scholarships, furthering the collective impact on the local community.
For more event information or to donate, please visit pba.edu/about/growth/free-enterprise-day.
