LP Announces CFO Sallie Bailey to Retire
June 01 2018 - 6:55AM
Business Wire
Louisiana-Pacific Corporation (LP) (NYSE: LPX) today announced
Sallie Bailey has elected to retire as Chief Financial Officer of
LP.
“Sallie has been a valued partner, and during her tenure at LP,
she has made significant contributions to the company’s
transformation into a leading building solutions company,” LP CEO
Brad Southern said. “We are fortunate Sallie has built a strong
finance team that will continue to work seamlessly through this
transition period. On behalf of everyone at LP, I thank Sallie for
her contributions and wish her the best for her retirement.”
“It has been a privilege to work with such a talented and
dedicated team at LP,” Ms. Bailey said. “LP today is
well-positioned to capitalize on opportunities for growth and value
creation and now is the right time for me to begin my retirement. I
am committed to ensuring a smooth transition and have great
confidence in the LP management team’s ability to achieve its
strategic and financial goals.”
LP has initiated a search for a CFO, and has retained a leading
executive search firm. Mike Kinney, Director of Investor Relations
and Treasurer, a 32-year veteran of LP with deep building products
and finance experience, is expected to serve as interim CFO
following Ms. Bailey’s retirement on July 13, 2018, should the
search continue to be active at that time.
About LP
As a proven leader in high performance building solutions, LP
Building Products manufactures uniquely engineered, innovative
building products that meet the demands and needs of the building
industry. Its extensive product portfolio includes durable and
dependable exterior siding and trim systems, engineered wood
framing and structural panels for single-family homes, multifamily
projects, repair & remodel markets, light commercial facilities
and outdoor buildings. LP also provides industry leading service
and warranties to help customers build smarter, better and faster.
Founded in 1973, LP is a global company headquartered in Nashville,
Tennessee, and traded on the New York Stock exchange under LPX. For
more information, visit LPCorp.com.
Forward-Looking Statements
This news release contains statements
concerning Louisiana-Pacific Corporation's (LP) future results and
performance that are forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Factors
that could cause actual results to differ materially from those
expressed or implied by the forward-looking statements include, but
are not limited to, the following: changes in governmental fiscal
and monetary policies and levels of employment; changes in general
economic conditions; changes in the cost and availability of
capital; changes in the level of home construction and repair
activity; changes in competitive conditions and prices for our
products; changes in the relationship between supply of and demand
for building products; changes in the relationship between supply
of and demand for raw materials, including wood fiber and resins,
used in manufacturing our products; changes in the cost of and
availability of energy, primarily natural gas, electricity and
diesel fuel; changes in the cost of and availability of
transportation; changes in other significant operating expenses;
changes in exchange rates between the U.S. dollar and other
currencies, particularly the Canadian dollar, Brazilian real and
Chilean peso; changes in general and industry-specific
environmental laws and regulations; changes in tax laws, and
interpretations thereof; changes in circumstances giving rise to
environmental liabilities or expenditures; the resolution of
existing and future product-related litigation and other legal
proceedings; and acts of public authorities, war, civil unrest,
natural disasters, fire, floods, earthquakes, inclement weather and
other matters beyond our control. These and other factors that
could cause or contribute to actual results differing materially
from those contemplated by such forward-looking statements are
discussed in greater detail in the company's Securities and
Exchange Commission filings.
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version on businesswire.com: https://www.businesswire.com/news/home/20180601005161/en/
Louisiana-Pacific CorporationMedia RelationsMark Morrison,
615-986-5886orInvestor RelationsBecky Barckley, 615-986-5600orMike
Kinney, 615-986-5600
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