Philip W. Knisely Appointed Chairman of Beacon Succeeding Robert R. Buck Who Continues as a Director
February 11 2020 - 5:00PM
Business Wire
Beacon (Nasdaq: BECN) (the “Company”) announced today that
Philip W. Knisely has been appointed Chairman of the Board,
succeeding Robert R. Buck, who retired as Chairman but continues as
a director.
Phil Knisely has been a Beacon Director since October 2015. He
is an operating partner at Clayton, Dubilier & Rice, LLC
(“CD&R”), a private investment firm. He also is Chairman of
CD&R Hydra Holdings, Inc. (parent entity of SunSource Holdings,
Inc.), a privately-held power distribution company, and is a former
Chairman of Roofing Supply Group, LLC, which Beacon acquired in
2015. Prior to joining CD&R, Mr. Knisely spent a decade as
Executive Vice President and Corporate Officer of Danaher
Corporation, where he was responsible for businesses totaling more
than $4 billion in sales. Prior to Danaher, Mr. Knisely co-founded
Colfax Corporation, a designer, manufacturer, and distributer of
fluid handling products, where he served as President and Chief
Executive Officer.
Mr. Buck joined Beacon as President and Chief Executive Officer
and a director in October 2003 and has been Chairman of the Board
since March 2007. Under Mr. Buck’s leadership, Beacon has grown
from a regional distributor with approximately $550 million in
revenue in 2003 into a Fortune 500 national leader in building
products distribution with over 500 locations across all 50 states
and six Canadian provinces and over $7 billion in revenue. Mr. Buck
led Beacon through its Initial Public Offering in 2004 and 46
acquisitions, including the transformative, multibillion-dollar
acquisitions of Roofing Supply Group and Allied Building
Products.
“Bob’s strategic vision, leadership and business acumen have
been the driving force behind Beacon’s tremendous growth during his
stewardship of the Company,” said new Chairman Phil Knisely. “More
important, however, are Bob’s integrity, character and personal
values which engender deep employee loyalty as well as unmatched
respect from investors, analysts, suppliers and customers, all of
which have shaped Beacon’s great reputation and enabled Beacon to
lead the consolidation of our industry. I am honored to follow in
his footsteps, and we are grateful for his continuing commitment to
Beacon by remaining a member of our Board of Directors.”
“It has been a distinct pleasure and a wonderful privilege to
serve the employees and the shareholders of Beacon,” said Mr. Buck.
“The years have passed so quickly. However, I clearly see a very
bright future full of opportunities and growth, and Phil is the
perfect Chairman to lead the way forward. I know him very well,
look forward to working with him this year, and continuing to cheer
enthusiastically for him and everyone at Beacon.”
About Beacon
Founded in 1928, Beacon is a Fortune 500, publicly-traded
distributor of residential and commercial building products in
North America, operating over 500 branches throughout all 50 states
in the U.S. and 6 provinces in Canada. Beacon serves an extensive
base of over 110,000 customers, utilizing its vast branch network
and diverse service offerings to provide high-quality products and
support throughout the entire business lifecycle. Beacon offers its
own private label brand, TRI-BUILT, and has a proprietary digital
account management suite, Beacon Pro+, which allows customers to
manage their businesses online. Beacon’s stock is traded on the
Nasdaq Global Select Market under the ticker symbol BECN. To learn
more about Beacon, please visit www.becn.com
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version on businesswire.com: https://www.businesswire.com/news/home/20200211006063/en/
Joseph Nowicki, Executive VP & CFO Joseph.Nowicki@becn.com
571-323-3939
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