Nick Stokes to Retire and Jeff Strom to Lead Boise Cascade’s Distribution Division

Rhea-AI Summary

Boise Cascade Company (NYSE: BCC) has announced the retirement of Nick Stokes, executive vice president of Building Materials Distribution (BMD), effective March 12, 2021, after 42 years of service. Jeff Strom will succeed him, bringing nearly 30 years of industry experience. Stokes has been instrumental in BMD's growth, overseeing the addition of five distribution centers to the existing network of 38 branches and expanding the millwork locations to nine. CEO Nate Jorgensen emphasized the importance of this leadership transition for future growth and service to stakeholders.

Positive

• Jeff Strom's appointment ensures continuity in leadership with nearly 30 years of industry experience.
• BMD has expanded its distribution network significantly under Nick Stokes, adding five new centers to reach 38 branches.

Negative

• None.

Boise Cascade Company (Boise Cascade) (NYSE: BCC) announced today that Nick Stokes, executive vice president of the Company’s Building Materials Distribution (BMD) business, has elected to retire on March 12, 2021, with 42 years of service. The board of directors has appointed Jeff Strom to the role of executive vice president of the BMD division.

Nick Stokes (Photo: Business Wire)

A veteran company and industry leader, Mr. Stokes joined Boise Cascade in 1979 after earning a bachelor’s degree in both management and marketing from the University of Utah. He held positions of increasing responsibility, including all areas of branch operations and sales, before being promoted to vice president of BMD operations in 2001, to senior vice president in 2011, and to executive vice president in 2014.

“Nick has been a key leader in the strategic growth of BMD,” said Tom Carlile, board chair. “Over the last three years, the division has added five new distribution centers to our nationwide network of 38 branches, as well as expanded the door shop business to nine millwork locations.”

Mr. Strom will assume his new responsibilities effective March 12, 2021. He joined Boise Cascade in 2006 in a sales position and became a branch manager in Milton, FL. He currently serves as vice president & general manager of BMD’s Eastern Region, based in Boise, ID. Mr. Strom has nearly 30 years of industry experience. He holds a bachelor’s degree in management from the Georgia Institute of Technology.

“I extend my sincere appreciation to Nick for his four decades of service and wish him the very best in his well-deserved retirement. I also offer a hearty congratulations to Jeff on his new role and responsibilities,” said Nate Jorgensen, Boise Cascade CEO. “We have been intentionally planning for this succession. The continuity of leadership enables us to continue to live our values and successfully serve our Customers, Suppliers and Shareholders into the future.”

About Boise Cascade

Boise Cascade Company is one of the largest producers of engineered wood products and plywood in North America and a leading U.S. wholesale distributor of building products. For more information, please visit our website at www.bc.com.

Forward-Looking Statements

This press release contains statements that are “forward looking” within the Private Securities Litigation Reform Act of 1995. These statements speak only as of the date of this press release. While they are based on the current expectations and beliefs of management, they are subject to a number of uncertainties and assumptions that could cause actual events to differ from the expectations expressed in this release. Factors that could cause actual events to differ materially from forward-looking statements are discussed in greater detail in our filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date of this press release. We undertake no obligation to revise them in light of new information. Finally, we undertake no obligation to review or confirm analyst expectations or estimates that might be derived from this release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210115005039/en/

FAQ

What major leadership change was announced by Boise Cascade on January 15, 2021?

Boise Cascade announced the retirement of Nick Stokes as executive vice president of Building Materials Distribution, effective March 12, 2021.

Who is succeeding Nick Stokes at Boise Cascade?

Jeff Strom has been appointed as the new executive vice president of the Building Materials Distribution division, effective March 12, 2021.

How many distribution centers has BMD added under Nick Stokes' leadership?

Under Nick Stokes, the Building Materials Distribution division has added five new distribution centers.

What is the significance of Jeff Strom's appointment for Boise Cascade?

Jeff Strom's appointment is significant as he brings nearly 30 years of industry experience and ensures continuity in leadership.