Simpson Manufacturing Co., Inc. Announces Executive Officer Updates

Rhea-AI Summary

Simpson Manufacturing Co., a leader in engineered structural connectors, announces executive officer updates effective January 1, 2023. Michael Olosky is appointed President and CEO, succeeding the previous leadership. Other key positions remain unchanged, with Brian Magstadt as CFO, and several executives taking on new roles including Roger Dankel as Executive VP of North American Sales and Jeremy Gilstrap as Executive VP of Innovation. This leadership succession is part of the company's strategic planning to strengthen its market position.

Positive

• Leadership succession is strategically planned, indicating stability in management.
• Michael Olosky's appointment as CEO may drive future growth and innovation.

Negative

• None.

PLEASANTON, Calif., Dec. 28, 2022 /PRNewswire/ -- Simpson Manufacturing Co., Inc. (the "Company") (NYSE: SSD), an industry leader in engineered structural connectors and building solutions, today announced its executive officers, effective January 1, 2023 following the appointment of Michael Olosky to President and Chief Executive Officer as part of a planned leadership succession.

In addition to Mr. Olosky, as President and CEO, the executive officers of the Company, or its designated subsidiaries, as of January 1, 2023, will be as follows:

• Brian Magstadt will continue to serve as Chief Financial Officer and Treasurer.
• Kevin Swartzendruber will continue to serve as Senior Vice President, Finance.
• Roger Dankel, who previously served as President of North American Sales, Simpson Strong-Tie Company Inc., will serve as Executive Vice President, North American Sales.
• Jeremy Gilstrap, who previously served as Vice President, Branch Manager (Stockton) Simpson Strong-Tie Company Inc., will serve as Executive Vice President, Innovation.
• Phil Burton, who previously served as Vice President, Branch Manager (McKinney) Simpson Strong-Tie Company Inc., will serve as Executive Vice President, North America.
• Michael Andersen, who previously served as Vice President, European Operations, will serve as Executive Vice President, Europe.
• Jennifer Lutz, who previously served as Vice President, Human Resources Simpson Strong-Tie Company Inc., will serve as Executive Vice President, Human Resources.

About Simpson Manufacturing Co., Inc.

Simpson Manufacturing Co., Inc., headquartered in Pleasanton, California, through its subsidiaries, including Simpson Strong-Tie Company Inc., designs, engineers and is a leading manufacturer of wood construction products, including connectors, truss plates, fastening systems, fasteners and shear walls, and concrete construction products, including adhesives, specialty chemicals, mechanical anchors, powder actuated tools and reinforcing fiber materials. The Company primarily supplies its building product solutions to both the residential and commercial markets in North America and Europe. The Company's common stock trades on the New York Stock Exchange under the symbol "SSD."

CONTACT:
Addo Investor Relations
investor.relations@strongtie.com 
(310) 829-5400

View original content to download multimedia:https://www.prnewswire.com/news-releases/simpson-manufacturing-co-inc-announces-executive-officer-updates-301710394.html

SOURCE Simpson Manufacturing Co., Inc.

FAQ

Who is the new CEO of Simpson Manufacturing Co. (SSD)?

Michael Olosky has been appointed as the new President and CEO of Simpson Manufacturing Co., effective January 1, 2023.

What changes were made to the executive team at Simpson Manufacturing Co.?

The executive team will remain largely unchanged, with key positions held by Brian Magstadt (CFO) and others continuing in their roles.

What is the significance of the executive changes at Simpson Manufacturing Co. (SSD)?

These changes are part of a planned leadership succession, aiming to ensure stability and promote strategic growth.

When will the new executive team take effect at Simpson Manufacturing Co. (SSD)?

The new executive team will take effect on January 1, 2023.