PLEASANTON, Calif.,
Oct. 13, 2020 /PRNewswire/
-- Simpson Manufacturing Co., Inc. (the "Company") (NYSE:
SSD), an industry leader in engineered structural connectors and
building solutions, today announced Michael
Olosky will be joining the Company as Chief Operating
Officer effective November
30th, 2020. Mr. Olosky succeeds Simpson's former
COO Ricardo Arevalo, who retired in
February 2020 after 20 years of
service to the Company.
Mr. Olosky will primarily be responsible for overseeing
Simpson's sales and operations globally, and will report directly
to the Company's President and Chief Executive Officer,
Karen Colonias. His proven expertise
in strategy and innovation, marketing, and manufacturing will play
a critical role for the next chapter of Simpson as it continues to
lead the industry with its trusted building solutions.
Prior to joining Simpson, Mr. Olosky spent over 22 years in
numerous leadership positions at Henkel, a global chemical and
consumer goods company. He most recently served as the Regional
President Henkel, North America
and Head of the Electronics and Industrial Division since 2019. Mr.
Olosky has a BS in Mechanical Engineering from Michigan Technological University, an MBA from
Michigan State University, and a MS in
Mechanical Engineering from Oakland
University.
"I am delighted that Mike will be joining our team as we
continue to uncover new ways to remain innovative and seek
opportunities for future growth," said Karen Colonias, Simpson's President and Chief
Executive Officer. "His broad and deep career experience will be
instrumental in enhancing our ability to continue providing
best-in-class service and support to our customers as we continue
to grow the Company. While the search to find the right
candidate took longer than anticipated, I could not be more pleased
with our choice, and I am confident Mike will have a tremendous
impact on our business success."
"I am incredibly excited to be joining Simpson," said Mr.
Olosky. "Beyond being a widely-recognized industry leader and
trusted manufacturer for over 60 years, Simpson's core values and
mission to improve people's lives though safer, stronger structures
closely align with mine. I look forward to helping the Simpson team
achieve great results in the future."
About Simpson Manufacturing Co., Inc.
Simpson
Manufacturing Co., Inc., headquartered in Pleasanton, California, through its
subsidiary, Simpson Strong-Tie Company Inc., designs, engineers and
is a leading manufacturer of wood construction products, including
connectors, truss plates, fastening systems, fasteners and
shearwalls, and concrete construction products, including
adhesives, specialty chemicals, mechanical anchors, powder actuated
tools and reinforcing fiber materials. The Company's common stock
trades on the New York Stock Exchange under the symbol "SSD."
Cautionary Note Regarding Forward-Looking
Statements
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, Section 27A of the Securities Act of 1933, as
amended, and Section 2 IE of the Securities Exchange Act of 1934,
as amended. Forward-looking statements generally can be identified
by words such as "anticipate," "believe," "estimate," "expect,"
"intend," "plan," "target," "continue," "predict," "project,"
"change," "result," "future," "will," "could," "can," "may,"
"likely," "potentially," or similar expressions that concern our
strategy, plans, expectations or intentions. Forward-looking
statements include, but are not limited to, statements about future
financial and operating results, our plans, objectives, business
outlook, priorities, expectations and intentions, expectations for
sales growth, comparable sales, earnings and performance,
stockholder value, capital expenditures, cash flows, the housing
market, the home improvement industry, demand for services, share
repurchases, our strategic initiatives, including the impact of
these initiatives on our strategic and operational plans and
financial results, and any statement of an assumption underlying
any of the foregoing and other statements that are not historical
facts. Although we believe that the expectations, opinions,
projections and comments reflected in these forward-looking
statements are reasonable, such statements involve risks and
uncertainties and we can give no assurance that such statements
will prove to be correct. Actual results may differ materially from
those expressed or implied in such statements.
Forward-looking statements are subject to inherent
uncertainties, risk and other factors that are difficult to predict
and could cause our actual results to vary in material respects
from what we have expressed or implied by these forward-looking
statements. Important factors that could cause our actual results
and financial condition to differ materially from those expressed
in our forward-looking statements include the impact of COVID-19 on
our operations and supply chain, and the operations of our
customers, suppliers and business partners and those discussed
under Item 1A. Risk Factors and Item 7 Management's Discussion and
Analysis of Financial Condition and Results of Operations in our
most recent Annual Report on Form 10-K and subsequent filings with
the SEC. To the extent that COVID-19 adversely affects our business
and financial results, it may also have the effect of heightening
many of such risk and other factors.
We caution that you should not place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. We undertake no obligation to publicly update any
forward-looking statement, whether as a result of new information,
future developments or otherwise. Readers are urged to carefully
review and consider the various disclosures made in our reports
filed with the SEC that advise of the risks and factors that may
affect our business, results of operations and financial
condition.
CONTACT:
Addo Investor Relations
investor.relations@strongtie.com
(310) 829-5400
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SOURCE Simpson Manufacturing Co., Inc.