Cornerstone Building Brands names next CEO
Cornerstone Building Brands, the manufacturer of exterior building products, announced that James Metcalf will retire as CEO.
The move is effective Sept. 6 with Metcalf being succeeded by Rose Lee as president and CEO.
Metcalf will continue his role as executive chairman of the board, with Lee also joining the board of directors.
“Leading Cornerstone Building Brands since its inception has been such an honor for me,” said Metcalf, chairman and CEO. “Together, we worked diligently to deliver on our strategy towards profitable growth and strengthen our industry leadership. This has been a remarkable journey of transformation and growth and the company is well prepared for this leadership transition."
Cornerstone was formed in 2018 after the merger between NCI Building Systems and PlyGem.
Over the last year, the Board of Directors conducted a comprehensive search process to identify a successor. Lee’s background and experience working with well-respected industry-leading manufacturing companies makes her an excellent addition to the company, Cornerstone said.
The leadership announcement arrives just days after Cornerstone reported that it has reached an agreement to acquire Cascade Windows for a cash purchase price of $245 million.
Cascade is an independent manufacturer of energy-efficient vinyl windows and doors serving the residential new construction and repair and remodeling markets. Headquartered in Spokane Valley, Wash., Cascade has approximately 800 employees at six manufacturing and three distribution locations across the West and Pacific Northwest.
The window manufacturer generated approximately $160 million in sales during the trailing 12 -month period ending May 2021. The transaction is expected to be funded with cash on hand and close in the third quarter of 2021.
Regarding Cornerstone’s leadership, the company said the search for its next CEO took place over the past year.
“Rose’s background, skills, and expertise give the board full confidence that she is the right person to serve as the next leader of Cornerstone Building Brands as it continues positioning for growth and value creation,” Metcalf said. “I have full confidence that Rose and our management team will continue to provide dynamic leadership to create even greater success for our customers, shareholders and employees.”
Lee joined DuPont in 2015 as global business director, DuPont Kevlar and Aramid Intermediates. In 2016, she assumed the role of President, DuPont Protection Solutions and was named President, Safety & Construction in 2017.
Prior to joining DuPont, Rose held senior leadership positions at Saint-Gobain in several general management positions serving the construction, transportation, energy, and defense sectors, as strategy director and CIO of the North America region. Prior to Saint-Gobain, she held various engineering and management positions at Pratt & Whitney.
Lee serves as a board member of Crown Holdings, Inc. She has served as a member of the Economic Advisory Council for the Federal Reserve Bank of Philadelphia, Inc., and is a member of Women Corporate Directors, Philadelphia chapter.
“On behalf of the board of directors, I would like to acknowledge and thank Jim for his steadfast leadership and for developing a winning management team that is poised for future success,” said John Krenicki, Jr, lead director of the Cornerstone Building Brands Board of Directors. “He was instrumental in creating an exterior building products industry leader beginning with the merger of NCI Building Systems & Ply Gem, integrating multiple acquisitions, driving portfolio simplification and setting a high bar for performance.”
“Rose is a proven leader and team builder with a diverse and deep set of skills and experiences,,” Krenicki added.
“I am extremely excited to join Cornerstone Building Brands as CEO and lead its next growth chapter,” said Lee. “I look forward to working with my 20,000 colleagues to scale our impact as a premier exterior building products company.”
Based in Cary, N.C., the Cornerstone Building Brands portfolio of products inclues vinyl windows, vinyl siding, stone veneer, insulated metal panels, metal roofing, metal wall systems and metal accessories. The company has more than 20,000 employees.
