PLEASANTON, Calif., July 31,
2024 /PRNewswire/ -- Simpson Manufacturing Co., Inc.
(the "Company") (NYSE: SSD), an industry leader in engineered
structural connectors and building solutions, today announced that
Brian Magstadt, Chief Financial
Officer and Treasurer, has informed the Company of his intention to
retire effective December 31, 2024.
Mr. Magstadt joined Simpson in 2004 and has served as the Company's
Chief Financial Officer and Treasurer since 2012. The Company has
initiated a comprehensive search for a new Chief Financial Officer
consisting of both internal and external candidates.
Mike Olosky, Simpson's President
and Chief Executive Officer, commented, "Brian has been an integral
part of the Simpson team for the past 20 years. His unmatched
leadership and dedication to our mission were instrumental in
perpetuating Simpson's values-based culture through a period of
significant transformation during his 12 years as CFO. On
behalf of the entire Simpson team, I'd like to thank Brian for his
invaluable contributions to the Company that have resulted in
extraordinary growth, improved profitability, and increased
stockholder value. I am personally appreciative of his strategic
insights and counsel since I've joined the Company that have helped
accelerate our market outperformance and inspire innovative
thinking. We wish him all the best in his retirement."
Mr. Olosky continued, "The search for a new CFO is
already underway and we look forward to further strengthening our
team and culture that continues to differentiate Simpson as the
partner of choice for all of our key stakeholders."
Mr. Magstadt added, "It has been a true privilege to serve as
Simpson's CFO and to further our mission of helping people build
safer, stronger structures. I am grateful to have had the
opportunity to work with such a talented team of colleagues over
the years and am very proud of all that we have accomplished
together. I am confident the Company is well-positioned for future
growth, and I look forward to following Simpson's continued
success."
About Simpson Manufacturing Co., Inc.
Simpson
Manufacturing Co., Inc., headquartered in Pleasanton, California, through its
subsidiaries, including Simpson Strong-Tie Company Inc., designs,
engineers and is a leading manufacturer of wood construction
products, including connectors, truss plates, fastening systems,
fasteners and shear walls, and concrete construction products,
including adhesives, specialty chemicals, mechanical anchors,
powder actuated tools and reinforcing fiber materials. The Company
primarily supplies its building product solutions to both the
residential and commercial markets in North America and Europe. 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 21E 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," "outlook," "target," "continue," "predict,"
"project," "change," "result," "future," "will," "could," "can,"
"may," "likely," "potentially," or similar expressions.
Forward-looking statements are all statements other than those of
historical fact and 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 and market 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 ongoing
integration of ETANCO, 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.
Forward-looking statements are subject to inherent
uncertainties, risks 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 or implied by our forward-looking statements
include the effect of global pandemics such as the COVID-19
pandemic and other widespread public health crisis and their
effects on the global economy, the effects of inflation and labor
and supply shortages, on our operations, the operations of our
customers, suppliers and business partners, and our ongoing
integration of ETANCO, as well as those discussed in the "Risk
Factors" and " Management's Discussion and Analysis of Financial
Condition and Results of Operations" sections of our most recent
Annual Report on Form 10-K, subsequent Quarterly Reports on Form
10-Q and other reports we file with the SEC.
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, except as may be required by law.
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.