Jeld-Wen nears new CEO hire
Since the unexpected departure of former CEO Mark Beck this past February, Jeld-Wen has been searching for a new top executive.
According to interim CEO Mark Hachigian, the window and door manufacturer is close to making a hire and has narrowed down its candidates in recent weeks. Hachigian delivered the update during the company’s recent first quarter sales and earnings conference call.
“We are down to 10 candidates with five members of the board interviewing them,” Hachigian said, noting that the company is making progress and a new CEO should be hired within the next two months.
Hachigian, the former CEO of Jeld-Wen, alluded to why Beck may have left the company three months ago and pointed to a high turnover rate at the company’s Charlotte, N.C. headquarters. The interim CEO also noted the incomplete reorganization plan that was initiated at Jeld-Wen’s Florida operations prior to Beck’s departure.
“When you look at 2017, you see that our problems were all self-inflicted,” Hachigian said.
Despite what may have transpired at Jeld-Wen offices, the company posted sharp first quarter 2018 results earlier this week. Jeld-Wen reported net revenues increased nearly 12% to $946.2 million for the quarter and had a net income of $40.3 million for the quarter, compared to net income of $6.4 million in the same quarter last year.
According to interim CEO Mark Hachigian, the window and door manufacturer is close to making a hire and has narrowed down its candidates in recent weeks. Hachigian delivered the update during the company’s recent first quarter sales and earnings conference call.
“We are down to 10 candidates with five members of the board interviewing them,” Hachigian said, noting that the company is making progress and a new CEO should be hired within the next two months.
Hachigian, the former CEO of Jeld-Wen, alluded to why Beck may have left the company three months ago and pointed to a high turnover rate at the company’s Charlotte, N.C. headquarters. The interim CEO also noted the incomplete reorganization plan that was initiated at Jeld-Wen’s Florida operations prior to Beck’s departure.
“When you look at 2017, you see that our problems were all self-inflicted,” Hachigian said.
Despite what may have transpired at Jeld-Wen offices, the company posted sharp first quarter 2018 results earlier this week. Jeld-Wen reported net revenues increased nearly 12% to $946.2 million for the quarter and had a net income of $40.3 million for the quarter, compared to net income of $6.4 million in the same quarter last year.