PLEASANTON, Calif., Oct. 28,
2024 /PRNewswire/ -- Simpson Manufacturing Co., Inc.
(the "Company") (NYSE: SSD), an industry leader in engineered
structural connectors and building solutions, today announced it
has appointed Matt Dunn as Chief
Financial Officer and Treasurer, effective January 1, 2025. Mr. Dunn has served as Simpson's
Senior Vice President of Finance since June
2024 and will succeed Brian
Magstadt. Mr. Magstadt will continue in his role as CFO
through the end of 2024, after which he will remain employed as an
Executive Advisor to assist with the transition until his
retirement on June 30, 2025. This
strategic hire follows a comprehensive search for the ideal
candidate with a proven track record of demonstrated leadership,
strategic capabilities and values that align with Simpson's core
principles of doing business, as inspired by the Company's
Founder.
As CFO, Mr. Dunn will oversee the financial and risk management
operations of the Company, including the financial strategy,
metrics and ongoing monitoring of control systems. He also will
manage the Company's capital request, allocation, and budgeting
processes; monitor cash balances and cash forecasts; implement cash
investment strategies; and maintain and lead its finance, audit,
and tax teams. Additionally, Mr. Dunn will be responsible for
evaluating potential mergers and acquisitions that align with
Simpson's growth goals, supervising acquisition due diligence and
negotiating acquisitions.
Mr. Dunn brings more than 23 years of experience in the
financial management of numerous high-profile brands in leadership
roles spanning corporate finance and strategy. Prior to joining
Simpson, he most recently served as Senior Vice President of
Finance, North America at Helen of
Troy, a $2 billion global consumer
products company, where he oversaw the financial performance of its
largest region. Preceding that, Mr. Dunn led the retaining wall
division of Inventure Group, a privately held civil construction
products company. He also spent 12 years in roles of increasing
seniority in finance at Procter & Gamble, preceded
by three years in operations finance at Kimberly-Clark. Mr. Dunn
holds Bachelor of Arts degrees in Finance and Accounting from
Cedarville University.
Mike Olosky, Simpson's President
and Chief Executive Officer, commented, "We are delighted to
appoint Matt as Simpson's new CFO. Matt is a highly accomplished
finance professional with an impressive track record of driving
strong results and forward thinking. He has already made valuable
contributions in his short time at the Company, and I am confident
he will be an integral player in further solidifying Simpson as a
leader in the building products space. Additionally, I'd like to
extend my gratitude to Brian
Magstadt for his 20 years of service with the Company. We
wish him all the best in his retirement."
"Simpson's proven business model, strong brand recognition, and
trusted reputation make it an honor to be named CFO at such an
exciting time in the Company's evolution," said Mr. Dunn. "I'd like
to extend my appreciation to Brian for his continued guidance over
the next several months and support in helping to ensure a seamless
transition. I look forward to leveraging my experience to further
Simpson's mission and to drive continued success for all of our
stakeholders."
About Simpson Manufacturing Co., Inc.
Simpson Manufacturing Co., Inc., headquartered in Pleasanton, California, through its
subsidiaries, including Simpson Strong-Tie Company Inc., designs,
engineers and is a leading manufacturer of wood construction
products, including connectors, truss plates, fastening systems,
fasteners and shear walls, and concrete construction products,
including adhesives, specialty chemicals, mechanical anchors,
powder actuated tools and reinforcing fiber materials. The Company
primarily supplies its building product solutions to both the
residential and commercial markets in North America and Europe. The Company's common stock trades on
the New York Stock Exchange under the symbol "SSD."
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements generally can be identified by words
such as "anticipate," "believe," "estimate," "expect," "intend,"
"plan," "outlook," "target," "continue," "predict," "project,"
"change," "result," "future," "will," "could," "can," "may,"
"likely," "potentially," or similar expressions. Forward-looking
statements are all statements other than those of historical fact
and include, but are not limited to, statements about future
financial and operating results, our plans, objectives, business
outlook, priorities, expectations and intentions, expectations for
sales and market growth, comparable sales, earnings and
performance, stockholder value, capital expenditures, cash flows,
the housing market, the home improvement industry, demand for
services, share repurchases, our ongoing integration of ETANCO, our
strategic initiatives, including the impact of these initiatives on
our strategic and operational plans and financial results, and any
statement of an assumption underlying any of the foregoing.
Forward-looking statements are subject to inherent
uncertainties, risks and other factors that are difficult to
predict and could cause our actual results to vary in material
respects from what we have expressed or implied by these
forward-looking statements. Important factors that could cause our
actual results and financial condition to differ materially from
those expressed in or implied by our forward-looking statements
include the effect of global pandemics such as the COVID-19
pandemic and other widespread public health crisis and their
effects on the global economy, the effects of inflation and labor
and supply shortages, on our operations, the operations of our
customers, suppliers and business partners, and our ongoing
integration of ETANCO, as well as those discussed in the "Risk
Factors" and " Management's Discussion and Analysis of Financial
Condition and Results of Operations" sections of our most recent
Annual Report on Form 10-K, subsequent Quarterly Reports on Form
10-Q and other reports we file with the SEC.
We caution that you should not place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. We undertake no obligation to publicly update any
forward-looking statement, whether as a result of new information,
future developments or otherwise, except as may be required by law.
Readers are urged to carefully review and consider the various
disclosures made in our reports filed with the SEC that advise of
the risks and factors that may affect our business, results of
operations and financial condition.
CONTACT:
Addo Investor Relations
investor.relations@strongtie.com
(310) 829-5400
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SOURCE Simpson Manufacturing Co., Inc.