Chief Executive Officer Dave Rush to
Retire
Peter Jackson Named Chief Executive
Officer
Pete Beckmann Named Chief Financial
Officer
Builders FirstSource, Inc. (NYSE: BLDR) announced today
that as part of a planned succession, its Board of Directors has
named Peter Jackson, Chief Financial Officer, as the Company’s next
President & Chief Executive Officer and member of its Board of
Directors, effective November 6, 2024. Mr. Jackson will succeed
Dave Rush, who has served as CEO since November 2022 and is
retiring after 25 years of dedicated service to the Company. Mr.
Rush will remain on the Builders FirstSource Board of Directors and
continue as a special advisor to ensure a smooth transition.
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 Irving, Texas, Builders FirstSource is the
largest U.S. supplier of building products, prefabricated
components, and value-added services to the professional market
segment for new residential construction and repair and remodeling.
We provide customers an integrated homebuilding solution, offering
manufacturing, supply, delivery, and installation of a full range
of structural and related building products. We operate in 43
states with approximately 570 locations and have a market presence
in 48 of the top 50 and 90 of the top 100 MSAs, providing
geographic diversity and balanced end market exposure. We service
customers from strategically located distribution and manufacturing
facilities (some of which are co-located) that produce value-added
products such as roof and floor trusses, wall panels, stairs, vinyl
windows, custom millwork, and pre-hung doors. Builders FirstSource
also distributes dimensional lumber and lumber sheet goods,
millwork, windows, interior and exterior doors, and other specialty
building products. www.bldr.com
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
Builders FirstSource (NYSE:BLDR)
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