Quanex Building Products Announces CEO Transition
December 11 2019 - 4:20PM
Quanex Building Products Corporation (NYSE: NX) (“Quanex” or the
“Company”) today announced that George Wilson, 51, Quanex’s Chief
Operating Officer, has been elected by the Company’s Board of
Directors (the “Board”) to succeed Bill Griffiths as Quanex’s
President and Chief Executive Officer (“CEO”). Mr. Wilson
will also join the Company’s Board, all effective January 1,
2020. Mr. Griffiths, 68, will remain as Executive Chairman of
the Board and will continue to support Mr. Wilson.
Prior to Mr. Wilson’s appointment to COO in
2017, he served as President - Insulating Glass Systems from
2011-2017, and in the 18 years prior to joining Quanex he held
various operational and financial positions of increasing
responsibility at Lauren International and Federal-Mogul. Mr.
Wilson holds a Master of Business Administration degree from
Indiana University and a Bachelor of Science degree from The
University of Akron.
“It has been extremely rewarding to lead this
Company over the last six years, and working with the Board to
successfully conclude an internal succession plan has been
satisfying,” said Mr. Griffiths. “George is the right person to
lead Quanex into the future. I look forward to continuing to
support George and his executive team as we continue to refine and
execute on the Company’s strategy.”
“I am very honored to succeed Bill as the
Company’s next CEO,” said Mr. Wilson. “Quanex is a great company
with a bright future, clear strategy and strong leadership
team. I am excited about this opportunity and I look forward
to continuing to work with Bill, the Board and the Quanex team in
our drive to create incremental value for our shareholders,
customers and employees.”
Joe Rupp, the Company’s Lead Director,
commented, “On behalf of Quanex’s Board, I want to thank Bill for
his leadership as CEO as he has steadfastly improved the Company
over the past six years. Since stepping in as CEO in 2013,
Bill has transformed Quanex into an industry-leading pure play
building products manufacturer that is very well-positioned for
continued success. George’s strong operational and financial
experience has served Quanex well over the years. His
understanding of our markets, combined with his proven track record
of success, uniquely positions him to lead the Company going
forward. We are confident that Quanex will continue to thrive
under George’s leadership.”
About QuanexQuanex Building
Products Corporation is an industry-leading manufacturer of
components sold to Original Equipment Manufacturers (OEMs) in the
building products industry. Quanex designs and produces
energy-efficient fenestration products in addition to kitchen and
bath cabinet components.
Forward Looking Statements
This press release contains “forward-looking
statements”. Statements that use the words “estimated,”
“expect,” “could,” “should,” “believe,” “will,” “might,” or similar
words reflecting future expectations or beliefs are forward-looking
statements. The statements set forth in this release are
based on current expectations. Actual results or events may
differ materially from this release. For a complete
discussion of factors that may affect Quanex’s future performance,
please refer to the Company’s Annual Report on Form 10-K for the
fiscal year ended October 31, 2018, under the sections entitled
“Cautionary Note Regarding Forward-Looking Statements” and “Risk
Factors”. Any forward-looking statements in this press
release are made as of the date hereof, and Quanex undertakes no
obligation to update or revise any forward-looking statements to
reflect new information or events.
Scott Zuehlke
SVP, Chief Financial Officer and Treasurer
713-877-5327
scott.zuehlke@quanex.com
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