NASHVILLE, Tenn.--(BUSINESS WIRE)--
Louisiana-Pacific Corporation (LP) (LPX) today announced Sallie Bailey has elected to retire as Chief Financial Officer of LP.
“Sallie has been a valued partner, and during her tenure at LP, she has made significant contributions to the company’s transformation into a leading building solutions company,” LP CEO Brad Southern said. “We are fortunate Sallie has built a strong finance team that will continue to work seamlessly through this transition period. On behalf of everyone at LP, I thank Sallie for her contributions and wish her the best for her retirement.”
“It has been a privilege to work with such a talented and dedicated team at LP,” Ms. Bailey said. “LP today is well-positioned to capitalize on opportunities for growth and value creation and now is the right time for me to begin my retirement. I am committed to ensuring a smooth transition and have great confidence in the LP management team’s ability to achieve its strategic and financial goals.”
LP has initiated a search for a CFO, and has retained a leading executive search firm. Mike Kinney, Director of Investor Relations and Treasurer, a 32-year veteran of LP with deep building products and finance experience, is expected to serve as interim CFO following Ms. Bailey’s retirement on July 13, 2018, should the search continue to be active at that time.
As a proven leader in high performance building solutions, LP Building Products manufactures uniquely engineered, innovative building products that meet the demands and needs of the building industry. Its extensive product portfolio includes durable and dependable exterior siding and trim systems, engineered wood framing and structural panels for single-family homes, multifamily projects, repair & remodel markets, light commercial facilities and outdoor buildings. LP also provides industry leading service and warranties to help customers build smarter, better and faster. Founded in 1973, LP is a global company headquartered in Nashville, Tennessee, and traded on the New York Stock exchange under LPX. For more information, visit LPCorp.com.
This news release contains statements concerning Louisiana-Pacific Corporation's (LP) future results and performance that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Factors that could cause actual results to differ materially from those expressed or implied by the forward-looking statements include, but are not limited to, the following: changes in governmental fiscal and monetary policies and levels of employment; changes in general economic conditions; changes in the cost and availability of capital; changes in the level of home construction and repair activity; changes in competitive conditions and prices for our products; changes in the relationship between supply of and demand for building products; changes in the relationship between supply of and demand for raw materials, including wood fiber and resins, used in manufacturing our products; changes in the cost of and availability of energy, primarily natural gas, electricity and diesel fuel; changes in the cost of and availability of transportation; changes in other significant operating expenses; changes in exchange rates between the U.S. dollar and other currencies, particularly the Canadian dollar, Brazilian real and Chilean peso; changes in general and industry-specific environmental laws and regulations; changes in tax laws, and interpretations thereof; changes in circumstances giving rise to environmental liabilities or expenditures; the resolution of existing and future product-related litigation and other legal proceedings; and acts of public authorities, war, civil unrest, natural disasters, fire, floods, earthquakes, inclement weather and other matters beyond our control. These and other factors that could cause or contribute to actual results differing materially from those contemplated by such forward-looking statements are discussed in greater detail in the company's Securities and Exchange Commission filings.