The AZEK Company Appoints New Chief Financial Officer
July 19 2021 - 5:16PM
Business Wire
The AZEK Company Inc. (NYSE: “AZEK”) (“AZEK” or the “Company”),
the industry-leading designer and manufacturer of beautiful, low
maintenance and environmentally sustainable outdoor living
products, including TimberTech® decking and Versatex® and AZEK
Trim®, announced today the appointment of Peter Clifford as the
Company’s Senior Vice President and Chief Financial Officer, to be
effective August 16, 2021, in conjunction with Ralph Nicoletti’s
planned retirement from the Company. To help ensure a smooth
transition, Mr. Clifford will work closely with Mr. Nicoletti, who
will continue working with the Company in a consulting capacity
through September 30, 2021.
Prior to joining AZEK, Mr. Clifford was most recently President
and Chief Operating Officer of Cantel Medical Corp., a leading
provider of infection-prevention products and services in the
healthcare market, which had over $1 billion in net sales in its
fiscal year 2020 and was publicly traded until its acquisition by
STERIS plc in June 2021. Mr. Clifford also spent over four years as
Cantel Medical’s Chief Financial Officer before his promotion to
President and Chief Operating Officer. Before joining Cantel
Medical, Mr. Clifford served as Chief Financial Officer – Health
& Science Technologies & Fluid Metering Technology
Divisions, two of the three reporting segments of IDEX Corporation,
a publicly-traded company with over $2.3 billion in net sales and
$375 million of net income in its fiscal year 2020. Mr. Clifford
also worked in various financial leadership roles at General
Electric Company before joining IDEX Corporation.
“After an extensive search, I am thrilled to announce that Peter
will be joining The AZEK Company. With over 25 years in the
manufacturing and industrial industries, Peter brings a wealth of
knowledge and experience to AZEK,” said Jesse Singh, CEO of The
AZEK Company. “In addition to his significant background in finance
and accounting, Peter’s operations, M&A, and executive
management expertise were also important factors to us in filling
this role as we continue the execution of our strategy to drive
revenue growth and continued margin expansion. Peter’s impressive
background and leadership experience make him especially
well-suited to succeed Ralph, who has played such an integral role
here these past several years.”
“My deepest appreciation goes out to Ralph, whose expertise
successfully led us through an IPO just over a year ago, among many
other contributions,” Singh continued. “On behalf of the Board and
the entire AZEK team, I want to thank Ralph for his nearly three
years with AZEK and wish him the best in his next chapter.”
As Senior Vice President and CFO, Mr. Clifford will be
responsible for all finance, accounting, treasury, investor
relations, information technology and corporate development
functions of the Company.
“I could not be happier to be joining AZEK at such an exciting
time. AZEK is not only growth oriented but is leading the industry
in creating a more sustainable future. I’m eager to help accelerate
the momentum and build upon its strong business fundamentals,”
incoming CFO Peter Clifford said.
About The AZEK® Company
The AZEK Company Inc. (NYSE: AZEK) is the industry-leading
designer and manufacturer of beautiful, low maintenance and
environmentally sustainable outdoor living products, including
TimberTech® decking and Versatex® and AZEK Trim®. Consistently
recognized as the market leader in innovation, quality and
aesthetics, products across AZEK’s portfolio are made from up to
100% recycled material and primarily replace wood on the outside of
homes, providing a long-lasting, eco-friendly, and stylish solution
to consumers. Leveraging the talents of its approximately 1,700
employees and the strength of relationships across its value chain,
The AZEK Company is committed to accelerating the use of recycled
material in the manufacturing of its innovative products, keeping
millions of pounds of waste out of landfills each year, and
revolutionizing the industry to create a more sustainable future.
Headquartered in Chicago, Illinois, the company operates
manufacturing facilities in Ohio, Pennsylvania and Minnesota, and
recently announced a new facility will open in Boise, Idaho. For
additional information, please visit azekco.com.
Cautionary Note Regarding Forward-Looking Statements
This release contains or refers to certain forward-looking
statements within the meaning of the federal securities laws and
subject to the "safe harbor" protections thereunder.
Forward-looking statements are statements about future events and
are based on our current expectations. These forward-looking
statements may be identified by the words “believe,” “hope,”
"expect," "intend," "will," "target," “anticipate,” "goal" and
similar expressions. Our forward-looking statements include,
without limitation, statements with respect to the goals, effects,
consequences and expectations of any leadership transition. The
Company bases its forward-looking statements on information
available to it on the date of this release, and undertakes no
obligation to publicly update or revise any forward-looking
statements, whether as a result of changed circumstances, new
information, future events or otherwise, except as may otherwise be
required by law. Actual future events could also differ materially
due to numerous factors that involve substantial known and unknown
risks and uncertainties including, among other things, the risks
and uncertainties set forth under "Risk Factors" and elsewhere in
the Company's reports on Form 10-K and Form 10-Q and the other
risks and uncertainties discussed in any subsequent reports that
the Company files with the Securities and Exchange Commission from
time to time. Although we have attempted to identify those material
factors that could cause actual results or events to differ from
those described in such forward-looking statements, there may be
other factors that could cause actual results or events to differ
from those anticipated, estimated or intended. Given these
uncertainties, investors are cautioned not to place undue reliance
on our forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20210719005807/en/
Investor Relations Contact: Amanda Cimaglia 312-809-1093
ir@azekco.com
Media Contact: Amy Widdowson (650) 597-7132
AZEKquestions@zenogroup.com
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