Builders FirstSource Announces Planned CEO and CFO Transition
Builders FirstSource (NYSE: BLDR) announces a planned CEO and CFO transition. Peter Jackson, current CFO, will become President & CEO and join the Board of Directors on November 6, 2024. He succeeds Dave Rush, who is retiring after 25 years with the company but will remain on the Board and serve as a special advisor. Pete Beckmann, Senior VP of Financial Planning & Analysis, will succeed Jackson as CFO.
Jackson brings nearly 30 years of leadership experience, including 17 years in building products and 7 years with Builders FirstSource. He has been instrumental in the company's growth strategy, overseeing capital allocation, M&A, and digital transformation. The Board views this transition as part of a thoughtful succession plan to lead the company into its next phase of profitable growth.
Builders FirstSource (NYSE: BLDR) annuncia una pianificata transizione del CEO e CFO. Peter Jackson, attuale CFO, diventerà Presidente e CEO e entrerà a far parte del Consiglio di Amministrazione il 6 novembre 2024. Sostituisce Dave Rush, che si ritira dopo 25 anni in azienda, ma rimarrà nel Consiglio e servirà come consulente speciale. Pete Beckmann, VP senior della Pianificazione e Analisi Finanziaria, succederà a Jackson come CFO.
Jackson porta con sé quasi 30 anni di esperienza nella leadership, tra cui 17 anni nel settore dei prodotti da costruzione e 7 anni con Builders FirstSource. È stato fondamentale nella strategia di crescita dell'azienda, supervisando l'allocazione di capitale, fusioni e acquisizioni e trasformazione digitale. Il Consiglio considera questa transizione come parte di un attento piano di successione per guidare l'azienda nella sua prossima fase di crescita profittevole.
Builders FirstSource (NYSE: BLDR) anuncia una transición planificada de CEO y CFO. Peter Jackson, actual CFO, se convertirá en Presidente y CEO y se unirá a la Junta Directiva el 6 de noviembre de 2024. Sucesa a Dave Rush, quien se retira después de 25 años en la empresa, pero permanecerá en la Junta y servirá como asesor especial. Pete Beckmann, VP Senior de Planificación y Análisis Financiero, sucederá a Jackson como CFO.
Jackson aporta casi 30 años de experiencia en liderazgo, incluidos 17 años en productos de construcción y 7 años con Builders FirstSource. Ha sido fundamental en la estrategia de crecimiento de la empresa, supervisando la asignación de capital, fusiones y adquisiciones, y transformación digital. La Junta ve esta transición como parte de un plan de sucesión bien pensado para llevar a la empresa a su próxima fase de crecimiento rentable.
Builders FirstSource (NYSE: BLDR)는 계획된 CEO 및 CFO 전환을 발표했습니다. 현재 CFO인 Peter Jackson이 2024년 11월 6일에 사장 겸 CEO로 취임하며 이사회에 합류합니다. 그는 25년 동안 회사에서 근무한 Dave Rush를 대신하게 됩니다. Rush는 은퇴하지만 이사회에 남아 특별 자문 역할을 합니다. 재무 계획 및 분석의 선임 부사장인 Pete Beckmann이 Jackson의 후임으로 CFO가 됩니다.
Jackson은 30년 가까운 리더십 경험을 보유하고 있으며, 그 중 17년은 건축 자재 분야에서, 7년은 Builders FirstSource와 함께 했습니다. 그는 자본 배분, 인수 및 합병, 디지털 혁신을 감독하며 회사의 성장 전략에 중요한 역할을 해왔습니다. 이사회는 이 전환을 회사의 다음 단계인 수익성 있는 성장으로 나아가기 위한 신중한 승계 계획의 일환으로 보고 있습니다.
Builders FirstSource (NYSE: BLDR) annonce une transition prévue au poste de CEO et de CFO. Peter Jackson, actuel CFO, deviendra Président et CEO et rejoindra le Conseil d'Administration le 6 novembre 2024. Il succède à Dave Rush, qui prend sa retraite après 25 ans dans l'entreprise mais restera au Conseil et agira en tant que conseiller spécial. Pete Beckmann, Vice-Président Senior de la Planification et de l'Analyse Financière, succédera à Jackson en tant que CFO.
Jackson apporte près de 30 ans d'expérience en leadership, dont 17 ans dans le secteur des produits de construction et 7 ans chez Builders FirstSource. Il a joué un rôle essentiel dans la stratégie de croissance de l'entreprise, supervisant l'allocation de capital, les fusions et acquisitions, ainsi que la transformation numérique. Le Conseil considère cette transition comme une partie d'un plan de succession réfléchi pour mener l'entreprise dans sa prochaine phase de croissance rentable.
Builders FirstSource (NYSE: BLDR) kündigt einen geplanten Wechsel im CEO- und CFO-Bereich an. Peter Jackson, derzeit CFO, wird am 6. November 2024 Präsident und CEO und dem Vorstand beitreten. Er tritt die Nachfolge von Dave Rush an, der nach 25 Jahren im Unternehmen in den Ruhestand geht, aber im Vorstand verbleiben und als Sonderberater tätig sein wird. Pete Beckmann, Senior VP für Finanzplanung und -analyse, wird Jackson als CFO nachfolgen.
Jackson bringt fast 30 Jahre Führungserfahrung mit, darunter 17 Jahre in der Bauprodukteindustrie und 7 Jahre bei Builders FirstSource. Er war maßgeblich an der Wachstumsstrategie des Unternehmens beteiligt und hat die Kapitalallokation, M & A sowie die digitale Transformation überwacht. Der Vorstand sieht diesen Wechsel als Teil eines durchdachten Nachfolgeplans, um das Unternehmen in seine nächste Phase des profitablen Wachstums zu führen.
- Planned and smooth leadership transition indicates organizational stability
- New CEO Peter Jackson has 30 years of leadership experience, including 7 years with the company
- Outgoing CEO Dave Rush will remain on the Board, ensuring continuity
- New CFO Pete Beckmann has been with the company since 1999, providing deep institutional knowledge
- None.
Insights
The planned CEO and CFO transition at Builders FirstSource (NYSE: BLDR) is a significant development, but it's structured to ensure continuity and stability. Peter Jackson, the current CFO, stepping into the CEO role after 7 years with the company, brings deep industry knowledge and a track record of strategic growth. His experience in capital allocation, M&A and digital transformation positions him well to lead BLDR's next growth phase.
The appointment of Pete Beckmann as CFO, with his 24-year tenure at BLDR, further reinforces leadership continuity. This internal promotion suggests a commitment to maintaining the company's strategic direction and financial discipline. While leadership changes can introduce uncertainty, the year-long transition period until November 2024 allows for a smooth handover, mitigating potential disruptions to operations or strategy execution.
Investors should monitor for any shifts in capital allocation strategies or changes in growth initiatives under the new leadership, but the overall impact appears neutral to slightly positive given the internal promotions and planned transition.
This leadership transition at Builders FirstSource comes at a important time for the building products industry. As the largest U.S. supplier in its sector, BLDR's performance is closely tied to the health of the residential construction market. The new leadership team will face challenges including interest rate fluctuations, housing market dynamics and supply chain pressures.
Peter Jackson's experience in digital transformation and business intelligence could be particularly valuable as the industry increasingly adopts technology-driven solutions. His background might accelerate BLDR's adaptation to changing market conditions and customer needs. Investors should watch for any new strategic initiatives or changes in the company's approach to market expansion or product innovation under Jackson's leadership.
The retention of Dave Rush on the board ensures continuity of industry expertise, which could be reassuring for stakeholders during this transition period. Overall, this change signals BLDR's proactive approach to leadership succession in a dynamic market environment.
Chief Executive Officer Dave Rush to Retire
Peter Jackson Named Chief Executive Officer
Pete Beckmann Named Chief Financial Officer
Mr. Jackson has nearly 30 years of leadership experience, including 17 years in building products and 7 years with Builders FirstSource. Throughout his career, he has demonstrated consistent ability to engage and inspire people, enhance organizations, and strategically deploy capital to drive value. As CFO of Builders FirstSource, Mr. Jackson has been instrumental in the development, execution and achievement of its growth strategy, including overseeing capital allocation and M&A, leading digital transformation and architecting the business intelligence platform, setting the stage for future success.
Pete Beckmann, Senior Vice President, Financial Planning & Analysis, will succeed Mr. Jackson as Chief Financial Officer. Mr. Beckmann has been with Builders FirstSource and legacy companies since 1999, serving in finance roles of increasing responsibility. In his current position, he is the lead financial partner to operations, supporting all levels of the enterprise, including reporting and analysis, short- and long-term forecasting, strategic and annual planning and capital investment analysis.
Paul Levy, Chair of the Board of Directors, said, “Peter’s appointment as the Company’s next CEO underscores the Board’s steadfast commitment to excellence in our leadership team, and is the result of a thoughtful succession planning process. Peter is a dynamic and innovative leader who has had wide-ranging impact on Builders FirstSource. He brings a strategic, operational, and finance-oriented mindset to his new role, as well as a deep understanding of our history, mission and strategy. As a respected industry leader across the Company by our team members, customers, and the investment community, Peter is the perfect choice to lead Builders FirstSource into our next phase of profitable growth.”
Mr. Levy added, “The Board truly appreciates everything Dave has done for Builders FirstSource over his 25 years with the Company. An authentic leader, Dave has been instrumental in our steadfast growth and outperformance. Given his deep industry knowledge, he will continue serving the organization on the Board of Directors and in an advisory role to support the team as needed. His contributions are notable, and his legacy will continue to inspire each of us.”
Mr. Rush commented, “It has been a true honor serving Builders FirstSource. I am most proud of the culture we have created and the opportunity for our dedicated and hardworking people to excel. My thanks to Paul and the Board for their belief and trust in me. In Peter, we have a leader with deep experience and a proven track record of value creation. One of my first priorities as CEO was to make sure we had in place a succession plan that kept the Company well positioned to execute our strategies and continue to build shareholder value. I am confident that Peter is the ideal choice to lead us in the next phase of our journey.”
Mr. Jackson added, “I am humbled and honored to be selected as the next CEO of Builders FirstSource. I look forward to building on our tremendous foundation and the strong legacy that Dave and our past leaders have established. Further, I’m thrilled that Pete is stepping into the role of CFO. He has a proven track record as a finance leader, and I look forward to continuing to partner with him to deliver exceptional results and compounding shareholder value.”
About Builders FirstSource
Headquartered in
Forward-Looking Statements
Statements in this news release that are not purely historical facts or that necessarily depend upon future events, including statements about future results, performance, strategies and plans may be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Readers are cautioned not to place undue reliance on forward-looking statements. In addition, oral statements made by our directors, officers and employees to the investor and analyst communities, media representatives and others, depending upon their nature, may also constitute forward-looking statements. As with the forward-looking statements included in this release, these forward-looking statements are by nature inherently uncertain, and actual results or events may differ materially as a result of many factors. All forward-looking statements are based upon information available to Builders FirstSource on the date this release was submitted. Builders FirstSource undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements involve risks and uncertainties, many of which are beyond the Company’s control or may be currently unknown to the Company, that could cause actual events or results to differ materially from the events or results described in the forward-looking statements; such risks or uncertainties include those related to the Company’s growth strategies, including acquisitions, organic growth and digital strategies, or the dependence of the Company’s revenues and operating results on, among other things, the homebuilding industry and, to a lesser extent, repair and remodel activity, which in each case is dependent on economic conditions, including inflation, interest rates, consumer confidence, labor and supply shortages, and also lumber and other commodity prices. Builders FirstSource may not succeed in addressing these and other risks. Further information regarding factors that could affect our financial and other results can be found in the risk factors section of Builders FirstSource’s most recent annual report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) and may also be described from time to time in the other reports Builders FirstSource files with the SEC. Consequently, all forward-looking statements in this release are qualified by the factors, risks and uncertainties contained therein.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240919852998/en/
Heather Kos
SVP, Investor Relations
Builders FirstSource, Inc.
investorrelations@bldr.com
Source: Builders FirstSource, Inc.
FAQ
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