N. VENICE, FL – PGT, Inc. (NASDAQ: PGTI), the nation’s leading manufacturer and supplier of residential impact-resistant windows and doors, announced this week that its Board of Directors has appointed Jeff Jackson, President and Chief Operation Officer, effective June 1, 2014. Mr. Jackson, 48, succeeds Rod Hershberger, 57, who will remain in his roles as Chairman of the PGT Industries Board of Directors and Chief Executive Officer (CEO).
“I am proud and excited that Jeff will succeed me as PGT’s President. This move supports our decision to make changes in the executive leadership team as part of our long-term organizational strategy and aligns us for the many significant growth opportunities ahead,” said Rod Hershberger, CEO and Chairman of the Board of Directors. “In Jeff we have found a President of diverse ability that is deeply committed to our tradition of leadership and core values - customer intimacy, quality, family, community and integrity – all of which he has clearly demonstrated during his 9 year tenure with PGT. Jeff has played a pivotal role in successfully leading PGT through the worst housing downturn in our history and is now directing our team through the recovery ensuring steady and stable growth. He has extensive experience and an engaging leadership style that relies heavily on collaboration and partnership. I believe he is an excellent leader for our organization with grassroots sensibilities, and we are very pleased that he emerged from within PGT’s own pool of talent.”
Mr. Jackson, who currently serves as executive vice president and chief financial officer, joined PGT in November 2005 and helped lead the Company's IPO in 2006. Mr. Jackson is responsible for all aspects of the Company's operations from Supply Chain to Manufacturing and is PGT's Chief Financial Officer. Prior to joining PGT, he served in various Executive Management roles, including Division Chief Financial Officer, Vice President Corporate Controller, and Senior Vice President of Operations. Mr. Jackson earned a B.B.A. from the University of West Georgia and is a Certified Public Accountant in both Georgia and California.
“It is a great privilege to be asked to lead PGT at such an important time in the Company’s history,” said Jeff Jackson, Executive Vice President, CFO and President-elect. “My center of attention will be the continued execution of our strategic plan and to drive the organization’s collective focus on customers and long-term shareholder value by maintaining a sharp concentration on customer intimacy, optimizing go-to-market strategies and accelerating advancements in operational capabilities. We have a thoughtful succession strategy in place, and I am confident our highly experienced and customer-intimate executive leadership team can execute our strategic plans successfully.”
ABOUT PGT
PGT pioneered the U. S. impact-resistant window and door industry, and today is the nation’s leading manufacturer and supplier of residential impact-resistant windows and doors. Founded in 1980, the Company employs approximately 1,500 at its manufacturing, glass laminating and tempering plants in North Venice, Florida. Utilizing the latest designs and technology, PGT products are ideal for new construction and replacement projects serving residential, commercial, high-rise and institutional markets. PGT’s product line includes PGT Aluminum and Vinyl Windows and Doors; PGT WinGuard and PGT PremierVue Impact-Resistant Windows and Doors; PGT Architectural Systems; and PGT Eze-Breeze Sliding Panels. PGT Industries is a wholly owned subsidiary of PGT, Inc. (NASDAQ: PGTI). For additional information visit pgtindustries.com.
Forward-looking Statements
In this press release, statements that are not reported financial results or other historical information are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements give current expectations or forecasts of future events and are not guarantees of future performance. They are based on management's expectations that involve a number of business risks and uncertainties, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. They use words such as "will," "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," and other words and terms of similar meaning in connection with any discussion of future operating or financial condition, performance and/or sales. Factors that could cause actual results to differ materially from those implied by these forward-looking statements include, but are not limited to: our ability to achieve the strategic and other objectives relating to the acquisition of Spartech Corporation, including any expected synergies; our ability to successfully integrate Spartech and achieve the expected results of the acquisition, including, without limitation, the acquisition being accretive; disruptions, uncertainty or volatility in the credit markets that could adversely impact the availability of credit already arranged and the availability and cost of credit in the future; the financial condition of our customers, including the ability of customers (especially those that may be highly leveraged and those with inadequate liquidity) to maintain their credit availability; the speed and extent of an economic recovery, including the recovery of the housing market; our ability to achieve new business gains; the effect on foreign operations of currency fluctuations, tariffs and other political, economic and regulatory risks; changes in polymer consumption growth rates where we conduct business; changes in global industry capacity or in the rate at which anticipated changes in industry capacity come online; fluctuations in raw material prices, quality and supply and in energy prices and supply; production outages or material costs associated with scheduled or unscheduled maintenance programs; unanticipated developments that could occur with respect to contingencies such as litigation and environmental matters; an inability to achieve or delays in achieving or achievement of less than the anticipated financial benefit from initiatives related to working capital reductions, cost reductions and employee productivity goals; an inability to raise or sustain prices for products or services; an inability to maintain appropriate relations with unions and employees; the inability to achieve expected results from our acquisition activities; our ability to continue to pay cash dividends; the amount and timing of repurchases of our common shares, if any; and other factors affecting our business beyond our control, including, without limitation, changes in the general economy, changes in interest rates and changes in the rate of inflation. The above list of factors is not exhaustive.We undertake no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise. You are advised to consult any further disclosures we make on related subjects in our reports on Form 10-Q, 8-K and 10-K that we provide to the Securities and Exchange Commission.
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