The AZEK Company Appoints New Board Members
18 Novembre 2021 - 1:30PM
Business Wire
The AZEK Company Inc. (NYSE: AZEK) ("AZEK" or the “Company”),
the industry-leading manufacturer of beautiful, low-maintenance and
environmentally sustainable outdoor living and building products,
including TimberTech® decking, and Versatex® and AZEK Trim®,
announced today the appointment of Vernon J. Nagel, the former
Executive Chairman, President and CEO of Acuity Brands, Inc.
(“Acuity Brands”), and Natasha Li, a Partner in the Private Equity
Group of Ares Management Corporation (“Ares”), to its board of
directors.
“I am very excited to welcome Vern and Natasha to our board of
directors,” said AZEK CEO Jesse Singh. “Vern’s decades-long
experience serving in chief executive and chief financial officer
roles in the manufacturing and consumer products spaces is expected
to add significant operational, strategic and industry-specific
insight to our already dynamic and accomplished board of directors.
Natasha’s background in private equity, where she has focused on
jumpstarting sustainable and successful growth across companies in
a variety of industries, will further enhance the Company’s
strategic vision and its carrying out of that vision, both in the
short and long terms. On behalf of the rest of the board and
management, I greatly look forward to working with both Vern and
Natasha.”
Mr. Nagel brings to AZEK an accomplished history of driving
profitable growth, integrating successful acquisitions and
expanding into new markets. Since 2001, he served in various roles
at Acuity Brands, where he served as Chairman, President & CEO
from 2004 to early 2020 and then as Executive Chairman until the
end of 2020. While at Acuity Brands, Mr. Nagel focused on enhancing
shareholder value by introducing new technologies, expanding
markets served through organic growth and acquisitions and driving
company-wide productivity. Prior to his time at Acuity Brands, Mr.
Nagel held senior financial positions at Jepson Associates, Inc.,
Kuhlman Corporation and Stericycle, Inc.
“I greatly look forward to helping guide AZEK, a leader in the
exciting and growing outdoor living market with a relentless focus
on environmental and social improvement, as it continues its
mission to advance a circular and sustainable economy and provide
its customers with the tools to beautify and personalize their
outdoor living spaces while doing it,” said Mr. Nagel.
Ms. Li has served on the Ares investment team that has been
instrumental in advising and guiding the Company through its time
as a private company following its acquisition by a fund managed by
the Ares Private Equity Group and Ontario Teachers’ Pension Plan
Board in 2013 through its initial public offering in 2020 and to
the present. Ms. Li’s extensive knowledge of the Company’s history
and its vision for the future will allow her to immediately add
significant value to the Company’s strategy and execution. Ms. Li
also serves on the board of City Ventures LLC and the parent entity
of Resource Label Group and has served on the boards of National
Veterinary Associations, Inc. and Jacuzzi Brands Corporation.
“Having worked with the AZEK management team and board of
directors for many years, I am excited to join the Company’s board
of directors and help it continue its remarkable journey,” remarked
Ms. Li. “AZEK has achieved significant success over the past
several years, becoming the leader in the outdoor living space. I
believe AZEK has exciting opportunities ahead as it continues to
execute against its strategy and generate benefits for its
customers, contractors, employees and community members and the
environment.”
With the appointment of Mr. Nagel and Ms. Li, AZEK’s Board of
Directors is now comprised of over 25% women and is over 35%
ethnically diverse.
To find additional information about AZEK, including its most
recent investor presentation, please visit
investors.azekco.com.
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 2,000
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 our ability to meet
the future targets and goals we establish and the ultimate impact
of our actions on our business as well as the expected benefits to
the environment, our employees, the communities in which we do
business or otherwise. 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/20211118005444/en/
Investor Relations Contact: Amanda Cimaglia 312-809-1093
ir@azekco.com Media Contact: Amy Widdowson (415) 819-2126
AZEKquestions@zenogroup.com
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