CARY, N.C., Jan. 7, 2019 /PRNewswire/ -- NCI Building
Systems, Inc. (NYSE: NCS) ("NCI" or the "Company")
announced today that Shawn K. Poe,
the Company's Chief Financial Officer has informed the Board of
Directors of the Company of his plans to retire from his position,
effective May 31, 2019.
James S. Metcalf, Chairman of the
Board and Chief Executive Officer, said, "Shawn has been an
invaluable asset to Ply Gem over the past twenty-eight years and
has played an integral role in shaping the evolution of that
company, as well as the new organization we have today. His
leadership and support through our recent merger transaction was
instrumental to its success and we believe that he leaves our
organization much stronger for his outstanding service.
Shawn's financial and operational expertise has guided Ply
Gem through many industrial cycles, including a series of market
and financial transactions that have established the foundation of
this Company for years to come. On behalf of the entire Company and
our Board of Directors, our thanks to Shawn for his many
contributions and we wish him all the best in his future
endeavors."
Mr. Poe commented, "It has been my distinct pleasure to work
with the Ply Gem and NCI employees, Board, and customers over these
many years. I am extremely proud of all the growth and successes we
have achieved over the past three decades, in addition to the steps
we have taken as a Company to establish a market leading exterior
building products company. My thanks to Jim, our Board and the
members of my team for all of their support during my time with the
Company."
The Company will commence a search for a new Chief Financial
Officer, considering both internal and external
candidates.
About NCI Building Systems and Ply Gem Holdings, Inc.
The combination of NCI and Ply Gem, headquartered in
Cary, NC, establishes a leading
exterior building products manufacturer with a broad range of
products to residential and commercial customers for both new
construction and repair & remodel. With a portfolio of key
products which includes windows, doors, siding, metal wall and roof
systems, engineered commercial buildings, insulated metal panels,
stone and other adjacent products, the Company has more than 20,000
employees across 80 manufacturing, distribution and office
locations throughout North
America. For more information, visit
www.ncibuildingsystems.com or www.plygem.com.
Contact:
K. Darcey Matthews
Vice President, Investor Relations
281-897-7785
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Words such as "believe," "anticipate," "guidance," "plan,"
"potential," "expect," "should," "will," "forecast" and similar
expressions are forward-looking statements within the meaning of
the "safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements reflect our
current expectations, assumptions and/or beliefs concerning future
events. As a result, these forward-looking statements rely on a
number of assumptions, forecasts, and estimates and, therefore,
these forward-looking statements are subject to a number of risks
and uncertainties that may cause the Company's actual performance
to differ materially from that projected in such statements. Such
forward-looking statements may include, but are not limited to,
statements concerning our performance expectations and the timing
of finding Mr. Poe's successor. Among the factors that could cause
actual results to differ materially include, but are not limited
to, risks and uncertainties relating to industry cyclicality and
seasonality and adverse weather conditions; challenging economic
conditions affecting the nonresidential construction industry;
volatility in the United States
("U.S.") economy and abroad, generally, and in the credit markets;
changes in laws or regulations; the effects of certain external
domestic or international factors that we may not be able to
control, including war, civil conflict, terrorism, natural
disasters and public health issues; our ability to obtain financing
on acceptable terms; recognition of goodwill or asset impairment
charges; commodity price volatility and/or limited availability of
raw materials, including steel; retention and replacement of key
personnel; enforcement and obsolescence of our intellectual
property rights; costs and liabilities related to compliance with
environmental laws and environmental clean-ups; competitive
activity and pricing pressure in our industry; volatility of the
Company's stock price; our ability to make strategic acquisitions
accretive to earnings; our ability to carry out our restructuring
plans and to fully realize the expected cost savings; volatility in
energy prices; the adoption of climate change legislation; breaches
of our information system security measures; damage to our major
information management systems; necessary maintenance or
replacements to our enterprise resource planning technologies;
potential personal injury, property damage or product liability
claims or other types of litigation; compliance with certain laws
related to our international business operations; the effect of
tariffs on steel imports; the cost and difficulty associated with
integrating and combining the businesses of NCI and Ply Gem;
potential write-downs or write-offs, restructuring and impairment
or other charges required in connection with the Merger;
substantial governance and other rights held by our sponsor
investors; the effect on our common stock price caused by
transactions engaged in by our sponsor investors, our directors or
executives; our substantial indebtedness and our ability to incur
substantially more indebtedness; limitations that our debt
agreements place on our ability to engage in certain business and
financial transactions; the effect of increased interest rates on
our ability to service our debt. See also the "Risk Factors" in the
Company's Annual Report on Form 10-K for the fiscal year ended
October 28, 2018, and other risks
described in documents subsequently filed by the Company from time
to time with the SEC, which identify other important factors,
though not necessarily all such factors, that could cause future
outcomes to differ materially from those set forth in the
forward-looking statements. The Company expressly disclaims any
obligation to release publicly any updates or revisions to these
forward-looking statements, whether as a result of new information,
future events, or otherwise.
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SOURCE NCI Building Systems, Inc.