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Quanex Building Products Appoints William Waltz to Board of Directors

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Rhea-AI Summary

Quanex Building Products Corporation (NYSE: NX) announced William E. Waltz's appointment to its Board of Directors, effective October 7, 2020. President George Wilson expressed confidence in Waltz's global manufacturing expertise and strategic vision to enhance shareholder value. Bill Griffiths, Executive Chairman, highlighted Waltz's leadership and critical insights as invaluable for the company. Waltz has prior experience as CEO of Atkore International Group Inc. and has held significant roles in Strategic Materials Inc. and Pentair plc. His extensive background positions him to contribute positively to Quanex's growth.

Positive
  • Appointment of William E. Waltz to the Board expected to enhance strategic vision.
  • Waltz's extensive manufacturing experience may drive shareholder value.
  • His previous leadership roles indicate potential for informed decision-making.
Negative
  • No direct experience related to the building products industry mentioned.
  • Concerns may arise over continuity with new board dynamics.

HOUSTON, TEXAS, Oct. 08, 2020 (GLOBE NEWSWIRE) -- Quanex Building Products Corporation (NYSE: NX) (“Quanex” or the “Company”) today announced the appointment of William (“Bill”) E. Waltz to its Board of Directors (the “Board”) effective October 7, 2020.

George Wilson, President and Chief Executive Officer, commented, “We are delighted to have Bill join our Board as a member of the Audit and Nominating and Corporate Governance Committees.  Bill’s global manufacturing expertise, strategic vision and proven track record of guiding organizations through inflection points in their growth will help our Company create value for shareholders over time.  We look forward to Bill’s contributions.”

Bill Griffiths, Executive Chairman, stated, “Bill is a proven leader and valuable addition to Quanex’s Board.  His professional experience will bring critical insights and perspectives that we can leverage to benefit the Company.  On behalf of the entire Quanex Board, we welcome Bill and look forward to his tenure.” 

Mr. Waltz has been the President and Chief Executive Officer of Atkore International Group Inc. (NYSE: ATKR) since 2018 and served in several other executive roles for the company from 2013 to 2018, including Chief Operating Officer and Group President of the Atkore Electrical Raceway reporting segment.  From 2009 to 2013, Mr. Waltz was the Chairman and Chief Executive Officer of Strategic Materials Inc., the largest glass recycling company in North America.  Prior to that, he spent 15 years in various divisions of Pentair plc, including President-Pentair Flow Technologies.  Mr. Waltz began his career at General Electric Company and as a Deloitte Management consultant.  Mr. Waltz earned a Masters of Business Administration from Northwestern University, Kellogg Graduate School of Management, a Masters of Science in Computer Science from Villanova University, a Bachelor of Science in Industrial Engineering from Pennsylvania State University, and was a graduate of General Electric’s Information Systems Management Program.

About Quanex

Quanex Building Products Corporation is an industry-leading manufacturer of components sold to Original Equipment Manufacturers (OEMs) in the building products industry.  Quanex designs and produces energy-efficient fenestration products in addition to kitchen and bath cabinet components.

FAQ

Who is William E. Waltz in relation to Quanex (NX)?

William E. Waltz has been appointed to the Board of Directors of Quanex Building Products Corporation (NYSE: NX) effective October 7, 2020.

What experience does William E. Waltz bring to Quanex (NX)?

Waltz brings significant experience from his roles as CEO of Atkore International Group Inc. and Chairman of Strategic Materials Inc., among others.

What committees will William E. Waltz serve on at Quanex (NX)?

Waltz will be a member of the Audit and Nominating and Corporate Governance Committees.

How might William E. Waltz's appointment impact Quanex (NX)?

His global manufacturing expertise and strategic insight are expected to create long-term value for shareholders.

When was William E. Waltz appointed to the Board of Directors of Quanex (NX)?

He was appointed on October 7, 2020.

Quanex Building Products Corporation

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Building Products & Equipment
Rolling Drawing & Extruding of Nonferrous Metals
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