Installed Building Products Announces Retirement of Chief Operating Officer and Appointment of Successor
28 Setembro 2023 - 5:15PM
Business Wire
Installed Building Products, Inc. (the “Company” or “IBP”)
(NYSE: IBP), an industry-leading installer of insulation and
complimentary building products, today announced that Jay P.
Elliott has notified the Company of his decision to retire as Chief
Operating Officer, effective December 31, 2023. Following his
retirement, Mr. Elliott is expected to serve in an advisory role to
the Company on business strategy and development.
The Board of Directors of the Company has named Brad A. Wheeler,
currently serving as Regional President of the Company, to replace
Mr. Elliott as Chief Operating Officer, effective January 1, 2024,
to provide sufficient time for transition of Mr. Elliott's
responsibilities.
“On behalf of IBP, I want to thank Jay for his significant
contributions and over 20 years of exceptional commitment and
service to the Company,” stated Jeff Edwards, Chairman and Chief
Executive Officer. “Jay’s operational, industry and managerial
expertise have been invaluable during IBP’s evolution over the
years, and we look forward to working together to ensure a smooth
transition. We wish Jay and his family the very best in his
retirement.”
Mr. Wheeler has served as one of the Company’s Regional
Presidents since January 2015. Since joining the Company in 2010 as
a Regional Manager, Mr. Wheeler has been responsible for the
management of operations in several states, including Colorado,
Texas, Florida and Georgia. In June 2022, Mr. Wheeler assumed
additional responsibility for much of IBP’s heavy commercial
business and was named President of the Alpha companies. He
attended Radford University and has been an active member of
Vistage International CEO Organization since 2011.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the federal securities laws, including with respect
to management changes. Forward-looking statements may generally be
identified by the use of words such as “anticipate,” “believe,”
“expect,” “intends,” “plan,” and “will” or, in each case, their
negative, or other variations or comparable terminology. These
forward-looking statements include all matters that are not
historical facts. By their nature, forward-looking statements
involve risks and uncertainties because they relate to events and
depend on circumstances that may or may not occur in the future.
Any forward-looking statements that we make herein and in any
future reports and statements are not guarantees of future
performance, and actual results may differ materially from those
expressed in or suggested by such forward-looking statements as a
result of various factors, including, without limitation, the
factors discussed in the “Risk Factors” section of the Company’s
Annual Report on Form 10-K for the year ended December 31, 2022, as
the same may be updated from time to time in our subsequent filings
with the Securities and Exchange Commission. Any forward-looking
statement made by the Company in this press release speaks only as
of the date hereof. New risks and uncertainties arise from time to
time, and it is impossible for the Company to predict these events
or how they may affect it. The Company has no obligation, and does
not intend, to update any forward-looking statements after the date
hereof, except as required by federal securities laws.
About Installed Building Products
Installed Building Products, Inc. is one of the nation's largest
new residential insulation installers and is a diversified
installer of complementary building products, including
waterproofing, fire-stopping, fireproofing, garage doors, rain
gutters, window blinds, shower doors, closet shelving and mirrors
and other products for residential and commercial builders located
in the continental United States. The Company manages all aspects
of the installation process for its customers, from direct purchase
and receipt of materials from national manufacturers to its timely
supply of materials to job sites and quality installation. The
Company offers its portfolio of services for new and existing
single-family and multi-family residential and commercial building
projects in all 48 continental states and the District of Columbia
from its national network of over 240 branch locations.
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