Carlisle Companies Announces the Retirement of Nicholas J. Shears as Group President of Carlisle Construction Materials

Rhea-AI Summary

Carlisle Companies (NYSE: CSL) announced the retirement of Nicholas J. Shears as Group President of Carlisle Construction Materials LLC, effective September 30, 2022, after 38 years with the company. His retirement aligns with a February 2022 realignment of the construction materials business, which includes new leadership with Steve Schwar and Frank Ready stepping into key roles. Chris Koch, CEO, thanked Shears for his contributions and noted his role in advancing the company’s strategic initiatives, particularly Vision 2025.

Positive

• Nicholas J. Shears' long tenure saw impressive sales and earnings growth at CCM.
• Continued consultancy support from Shears for nine months ensures smooth leadership transition.
• New leadership with Steve Schwar and Frank Ready positions the company for strategic realignment.

Negative

• None.

SCOTTSDALE, Ariz.--(BUSINESS WIRE)-- Carlisle Companies Incorporated (NYSE: CSL) today announced that Nicholas J. Shears will retire as Group President of Carlisle Construction Materials LLC (“CCM”) after thirty-eight years of service to Carlisle, effective September 30, 2022. Mr. Shears’ planned retirement coincides with Carlisle’s February 2022 realignment of its construction materials business and appointment of Steve Schwar as President of Carlisle Construction Materials and Frank Ready as President of Carlisle Weatherproofing Technologies. Upon his retirement, Mr. Shears will continue to provide consultancy services to CCM for a period of nine months in order to assure a smooth transition of his position.

Over his career at CCM, Mr. Shears served as President, Executive Vice President, Sales & Marketing and held engineering and other executive sales and marketing positions.

Chris Koch, Chair, President and Chief Executive Officer, said, “Over his long tenure with CCM, Nick has participated in and led the impressive sales and earnings growth at CCM as well as contributed significantly to the development and implementation of CCM’s strategic and operating initiatives and to the advancement of Vision 2025. On behalf of the entire Carlisle community, I thank Nick for his many contributions to Carlisle and wish him the best in his well-earned retirement.”

About Carlisle Companies Incorporated

Carlisle Companies Incorporated is a leading supplier of innovative Building Envelope products and energy-efficient solutions for customers creating sustainable buildings of the future. Through its construction materials businesses (CCM and CWT) and family of leading brands, Carlisle delivers innovative, labor-reducing and environmentally responsible products and solutions to customers through the Carlisle Experience. Over the life of a building, Carlisle’s products help drive lower greenhouse gas emissions, improve energy savings for building owners and operators, and increase a building’s resiliency to the elements. Driven by its strategic plan, Vision 2025, Carlisle is committed to generating superior shareholder returns and maintaining a balanced capital deployment approach, including investments in our businesses, strategic acquisitions, share repurchases and continued dividend increases. Carlisle also is a leading provider of products to the Aerospace, Medical Technologies and General Industrial markets through its Interconnect Technologies (CIT) and Fluid Technologies (CFT) business segments.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220809005356/en/

Jim Giannakouros, CFA

Vice President of Investor Relations

(480) 781-5135

jgiannakouros@carlisle.com

Source: Carlisle Companies Incorporated

FAQ

What is the significance of Nicholas J. Shears' retirement from CSL?

His retirement marks the end of a 38-year career, raising questions about leadership continuity and future direction.

Who is taking over leadership at Carlisle Construction Materials after Shears?

Steve Schwar was appointed as President, with Frank Ready taking on the role at Carlisle Weatherproofing Technologies.

How does Shears' retirement impact CSL's Vision 2025 strategic plan?

The transition in leadership is crucial for continuing the implementation of Vision 2025, which focuses on sustainable growth and shareholder returns.

When is Nicholas J. Shears' retirement effective?

His retirement is effective September 30, 2022.

What future role will Nicholas J. Shears have after retiring from CSL?

He will continue to provide consultancy services to ensure a smooth transition for nine months.