Summit Materials, Inc. (NYSE: SUM, “Summit,” or the “Company”),
a leading vertically integrated construction materials company,
today announced two executive changes that are effective March 1,
2022. Tom Beck will become Executive Vice President, Summit
Materials and David Loomes will assume the role of Continental
Cement Company President and Senior Vice President of Summit
Materials as part of the Company’s planned and pro-active
leadership succession. Beck is transitioning into the EVP role
following 25 years of distinguished service at Continental Cement
Company, LLC (“Continental” or “CCC”), including the last 9 as
President. Loomes has 20+ years of industry experience and was most
recently CCC’s Senior Vice President of Sales and Supply Chain.
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Tom Beck will become Executive Vice
President, Summit Materials, effective March 1, 2022. (Photo:
Business Wire)
CEO of Summit Materials, Anne Noonan, commented, “Tom’s
leadership, industry experience, and commitment to his community
have been central to Continental’s and Summit’s success. In his
transition to EVP, he will be maximizing growth and value creation
in the cement business, advancing industry partnerships and
leveraging other professional associations to advance our Elevate
Summit Strategy.”
“I could not be more excited for David, as he assumes his new
role as Continental Cement Company President,” said Tom Beck. “As I
have gotten to know David, he has impressed me with his dedication
to safety, our employees, customers, and community. I am thrilled
to take on a new role with Summit, supporting our industry
partnerships and the Elevate Summit strategy.”
"At Summit Materials, our people are central to the Company’s
success,” Anne Noonan continued. “David, with his wealth of
experience in the cement industry, shares our vision to be the most
socially responsible, integrated construction materials solution
provider and will help build strong collaboration to drive growth
for our customers. The Senior Leadership Team, the Board, and I are
thrilled that David has accepted this role.”
“Our Board and management team believe that thoughtful and
pro-active succession planning across all leadership positions is
crucial to Summit’s long-term success,” Anne mentioned. “David’s
appointment is just one example of that belief.”
In his role as President, David Loomes will develop and drive
integrated programs to support the company’s business plans and
growth objectives. Since joining CCC, he focused on improving the
company’s supply chain and commercial performance. David also
successfully led Summit’s Commercial Excellence for the Cement
business. He has a proven track record in improving safety,
employee engagement and delivering exceptional results. Throughout
his career David has served on the Board of Directors of numerous
industry associations and currently serves on the Inland Waterways
Users Board.
“This is a very exciting time for Summit Materials and
Continental Cement Company. We have a clear and focused vision;
strategy; commitment to our markets, and strong values of Safety,
Integrity, Sustainability and Inclusivity that will drive growth
and improved performance. We are also committed to pioneering
long-term sustainability practices, including implementing the sale
of Portland Limestone Cement (PLC) at all Continental locations. It
has been incredible working with Tom and the Continental leadership
team,” continued David. “I’m looking forward to supporting the
hard-working employees and customers at the center of this
important work, as well as the Hannibal and Davenport communities
as we continue to grow Continental Cement and provide the
infrastructure that our communities and economies need to build a
better tomorrow.”
About Summit Materials
Summit Materials is a leading vertically integrated
materials-based company that supplies aggregates, cement, ready-mix
concrete and asphalt in the United States and British Columbia,
Canada. Summit is a geographically diverse, materials-based
business of scale that offers customers a single-source provider of
construction materials and related downstream products in the
public infrastructure, residential and nonresidential, and end
markets. Summit has a strong track record of successful
acquisitions since its founding and continues to pursue growth
opportunities in new and existing markets. For more information
about Summit Materials, please visit www.summit-materials.com.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains “forward-looking statements” within
the meaning of the federal securities laws, which involve risks and
uncertainties. Forward-looking statements include all statements
that do not relate solely to historical or current facts, and you
can identify forward-looking statements because they contain words
such as “believes,” “expects,” “may,” “will,” “should,” “seeks,”
“intends,” “trends,” “plans,” “estimates,” “projects” or
“anticipates” or similar expressions that concern our strategy,
plans, expectations or intentions. These forward-looking statements
are subject to risks, uncertainties and other factors that may
cause our actual results, performance or achievements to be
different from future results, performance or achievements
expressed or implied by such forward-looking statements. We derive
many of our forward-looking statements from our operating budgets
and forecasts, which are based upon many detailed assumptions.
While we believe that our assumptions are reasonable, it is very
difficult to predict the effect of known factors, and, of course,
it is impossible to anticipate all factors that could affect our
actual results.
In light of the significant uncertainties inherent in the
forward-looking statements included herein, the inclusion of such
information should not be regarded as a representation by us or any
other person that the results or conditions described in such
statements or our objectives and plans will be realized. Important
factors could affect our results and could cause results to differ
materially from those expressed in our forward-looking statements,
including but not limited to the factors discussed in the section
entitled “Risk Factors” in our Annual Report on Form 10-K for the
fiscal year ended January 1, 2022. Such factors may be updated from
time to time in our periodic filings with the Securities and
Exchange Commission (“SEC”), which are accessible on the SEC’s
website at www.sec.gov. We undertake no obligation to publicly
update or revise any forward-looking statement as a result of new
information, future events or otherwise, except as required by
law.
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Investor Contact Karli Anderson EVP, Chief ESG Officer
and Head of Investor Relations Summit Materials, Inc.
Karli.Anderson@summit-materials.com 303-875-3886
Media Contact Deb Coffman Manager, External
Communications Summit Materials, Inc.
Deb.Coffman@summit-materials.com
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