JELD-WEN President and CEO Gary S. Michel Named Chairman of the Board
The board of directors of JELD-WEN Holding has appointed Gary S. Michel as chairman, effective immediately. Michel, who has been with the company since 2018, replaces Matthew Ross, who is stepping down. Suzanne Stefany has been named lead independent director. Michel expressed pride in his new role and highlighted the company’s growth strategy. With Ross and Anthony Munk from Onex stepping down, the board now consists of nine members. Michel brings over 35 years of experience in strategy and operations, previously leading units at Honeywell and Ingersoll Rand.
- Gary S. Michel's appointment as chairman signals continuity in leadership; he has been instrumental in the company's growth strategy since 2018.
- Board restructuring may align with JELD-WEN's strategic goals for future growth.
- None.
CHARLOTTE, N.C., Oct. 27, 2021 /PRNewswire/ -- The board of directors of JELD-WEN Holding, Inc. (NYSE:JELD), a leading global manufacturer of building products, has elected Gary S. Michel, president, chief executive officer and current director of JELD-WEN, to chairman of the board, effective immediately. Michel has served as a board member since 2018 and replaces Matthew Ross, who is stepping down.
Suzanne Stefany, who currently serves as the chair of the governance and nominating committee, was also appointed lead independent director of the board. Stefany has served on the board since 2017. She is a partner for the Strategic Advisory Group at PJT Partners, a global advisory-focused investment bank.
"Having served with Gary on the board for the past three years, he has demonstrated tremendous leadership and built a world-class team," said Stefany. "Gary's strategic vision, operational discipline and focus on building a premier-performing culture has meaningfully improved the company. The board is confident that JELD-WEN is well-positioned for continued growth and looks forward to continuing to serve with Gary in this expanded role."
"I am honored to have the confidence of the board and to take on this responsibility at such an exciting time in JELD-WEN's history," said Michel. "We have made great progress in transforming our business and delivering profitable growth by executing on our well-defined strategy and business operating system."
Ross, board chairman for the past two years, and Anthony Munk, both of global private equity firm Onex, are stepping down from the board as planned following Onex's recent completion of its successful 10-year investment in the company. Today's announcement brings JELD-WEN's board of directors to nine members.
"The board and I thank Matt and Anthony for their leadership and partnership in JELD-WEN's success over the past two years," added Michel. "They have been staunch supporters of the company's strategic growth plan, positioning JELD-WEN as a premier global leader of building products."
About Gary S. Michel
Michel joined JELD-WEN, Inc. as president and CEO in 2018, bringing to the company more than 35 years of strategy, business transformation, operations and lean manufacturing leadership experience. Prior to JELD-WEN, he served as the president and chief executive officer of the Home and Building Technologies strategic business group at Honeywell International Inc. Prior to that, he spent 32 years at Ingersoll Rand, serving as a member of the company's leadership team as senior vice president and president of its residential heating, ventilation and air conditioning business. He began his career as an application engineer and held various product, sales and business management roles before moving into a series of leadership positions across various geographic and market segments.
Gary holds a B.S. in mechanical engineering from Virginia Tech and an MBA from the University of Phoenix. He served as a member of the board of directors of Cooper Tire & Rubber Company from 2015 – 2021, until its sale to Goodyear.
About JELD-WEN
Headquartered in Charlotte, N.C., JELD-WEN is a leading global manufacturer of high-performance interior and exterior building products, offering one of the broadest selections of windows, interior and exterior doors, and wall systems. JELD-WEN delivers a differentiated customer experience, providing construction professionals with durable, energy-efficient products and labor-saving services that help them maximize productivity and create beautiful, secure spaces for all to enjoy. The JELD-WEN team is driven by innovation and committed to creating safe, sustainable environments for customers, associates, and local communities. The JELD-WEN family of brands includes JELD-WEN® worldwide; LaCantina™ and VPI™ in North America; Swedoor® and DANA® in Europe; and Corinthian®, Stegbar®, and Breezway® in Australia. Visit JELD-WEN.com for more information.
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SOURCE JELD-WEN Holding, Inc.
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