Business
Patrick Industries, Inc. Announces Andy Nemeth to Succeed Todd Cleveland as Chief Executive Officer
ELKHART, Ind., Nov. 18, 2019 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ: PATK) announced today that Andy L. Nemeth, President will succeed Todd M.
About this update from Patrick Industries, Inc.
[{"type":"text","content":" ELKHART, Ind., Nov. 18, 2019 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ: PATK) announced today that Andy L. Nemeth, President will succeed Todd M. Cleveland as Chief Executive Officer effective January 1, 2020 in accordance with the Company's executive succession plan. Mr. Nemeth will continue in his role as President and a director of the Company. Mr. Cleveland will become Executive Chairman and will continue to lead the Board of Directors while working closely with Mr. Nemeth and the senior leadership team. \n\n \n\"The Company has continued to evolve in its depth, breadth, and complexity as it has grown in alignment with our strategic plan, and Andy has provided exceptional strategic, organizational, operational, and financial leadership during this time and throughout his 23-year tenure with Patrick,\" said Mr. Cleveland. \"He has a proven track record of accomplishment, leadership credibility, and vision within our organization and the industries in which we operate, and has worked side by side with me in driving the execution of our strategic vision. I'm looking forward to my continued involvement with the Company and partnership with Andy and the team to support our M&A strategy, investor and community relations platform, key customer and supplier relationships, and overall development of our strategic plan,\" Mr. Cleveland further noted.\n\"The incredible talent and spirit in our organization coupled with the energy and passion of our team members are both inspiring and humbling,\" Mr. Nemeth said. \"I'm excited and honored to lead Patrick and our 'Customer 1st' culture with the goal of carrying on our legacy of leadership and performance and driving our growth trajectory and values-based organizational presence. I'm further energized by the ongoing partnership with Todd in his new role, our senior team, and the Board of Directors in driving our strategic plan, while continuing our focus on increasing shareholder value as we strive to bring the highest quality products and service to our customers.\" \nScott Welch, Lead Independent Director, said, \"We want to thank Todd for his leadership and vision as Chief Executive Officer and are looking forward to his continued contributions to Patrick. We are extremely optimistic about Patrick's future under the leadership of Andy and the rest of our senior team. Andy's...