ELKHART, Ind., Sept. 26, 2016 /PRNewswire/ -- Patrick
Industries, Inc. (NASDAQ: PATK) ("Patrick" or the "Company")
announced today that effective immediately, Jeffrey M. Rodino, Executive Vice President of
Sales and Chief Operating Officer, will assume the newly created
position of Executive Vice President of Sales and Chief Sales
Officer. Kip B. Ellis, Vice
President of Market Development, will assume the position of
Executive Vice President of Operations and Chief Operating
Officer.
"We continue to align our talent to maximize focus and capacity
to position ourselves to most effectively serve our customer base,"
said Todd Cleveland, Chief Executive
Officer. "Jeff has a proven track record of executive
leadership and accomplishment in our organization and will help
drive our efforts to strategically grow our overall business model
and expand our customer base and product line offerings. Kip,
who also has a proven track record and background in executive
leadership in the industry, will work side by side with Jeff to
strategically align our focus on maximizing efficiencies,
cross-selling opportunities, and operating performance."
"Both Jeff and Kip's new roles recognize the increasingly
dynamic management needs of the Company and our efforts to
continuously provide capacity for growth as we drive revenues in
excess of $1.2 billion, including the
acquisition of six additional companies thus far in fiscal 2016,"
said Andy Nemeth,
President. "We are highly confident in their abilities to
continue to lead the Company into the future, and look forward to
our ongoing partnership with Jeff, Kip, other key leaders, and the
rest of the Patrick organization that has been instrumental in
driving the execution of our strategic plan and our goal of
continually increasing customer and shareholder
value."
Prior to assuming the position of Executive Vice President of
Sales and Chief Sales Officer, Mr. Rodino, age 46, was Executive
Vice President of Sales and Chief Operating Officer of the Company
since March 2013, and Executive Vice
President of Sales since December 2011. Prior to that, Mr.
Rodino served as Vice President of Sales for the Midwest from
August 2009 to December 2011 and was elected an Officer in May
2010. Mr. Rodino also served in a variety of top-level sales
and marketing roles after joining Patrick in 2007 and held similar
key sales positions during his tenure with Adorn from 2001 until
May 2007, when Adorn was acquired by
Patrick. Mr. Rodino has over 23 years of experience serving
the recreational vehicle, manufactured housing and industrial
markets.
Mr. Ellis, age 42, joined the Company in April 2016 as its Vice President of Market
Development. Prior to his role at Patrick, Mr. Ellis served
in several executive leadership, product development, and sales
management positions at Atwood Mobile Products from 2007 to 2015,
and most recently, the Dometic Group. Mr. Ellis has over 19
years of experience serving the recreational vehicle, manufactured
housing and industrial markets.
About Patrick Industries
Patrick Industries, Inc.
(www.patrickind.com) is a major manufacturer of component products
and distributor of building products serving the recreational
vehicle, manufactured housing, kitchen cabinet, office and
household furniture, fixtures and commercial furnishings, marine,
and other industrial markets and operates coast-to-coast through
locations in 16 states. Patrick's major manufactured products
include decorative vinyl and paper laminated panels, countertops,
fabricated aluminum products, wrapped profile mouldings, slide-out
trim and fascia, cabinet doors and components, hardwood furniture,
fiberglass bath fixtures, fiberglass and plastic component
products, softwoods lumber, interior passage doors, RV painting,
simulated wood and stone products, and slotwall panels and
components. The Company also distributes drywall and drywall
finishing products, electronics and audio systems components,
wiring, electrical and plumbing products, cement siding, raw and
processed lumber, FRP products, interior passage doors, roofing
products, laminate and ceramic flooring, shower doors, furniture,
fireplaces and surrounds, interior and exterior lighting products,
and other miscellaneous products.
Forward-Looking Statements
This press release
contains certain statements related to future results, our
intentions, beliefs and expectations or predictions for the future,
which are forward-looking statements as that term is defined in the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements involve a number of risks and
uncertainties that could cause actual results to differ materially
from either historical or anticipated results depending on a
variety of factors. Potential factors that could impact
results include: the impact of any economic downturns especially in
the residential housing market, a decline in consumer confidence
levels, pricing pressures due to competition, costs and
availability of raw materials, availability of commercial credit,
availability of retail and wholesale financing for residential and
manufactured homes, availability and costs of labor, inventory
levels of retailers and manufacturers, the financial condition of
our customers, retention and concentration of significant
customers, the ability to generate cash flow or obtain financing to
fund growth, future growth rates in the Company's core businesses,
the seasonality and cyclicality in the industries to which our
products are sold, realization and impact of efficiency
improvements and cost reductions, the successful integration of
acquisitions and other growth initiatives, interest rates, oil and
gasoline prices, adverse weather conditions impacting retail sales,
and our ability to remain in compliance with our credit agreement
covenants. In addition, national and regional economic
conditions may affect the retail sale of recreational vehicles and
residential and manufactured homes. The Company does not
undertake to update forward-looking statements, except as required
by law. Further information regarding these and other risks,
uncertainties and factors is contained in the section entitled
"Risk Factors" in the Company's Annual Report on Form 10-K for the
year ended December 31, 2015, and in
the Company's Form 10-Qs for subsequent quarterly periods, which
are filed with the Securities and Exchange Commission ("SEC") and
are available on the SEC's website at www.sec.gov.
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SOURCE Patrick Industries, Inc.