Drew Logie to Remain on the Board of Directors
PEABODY, Mass.--(BUSINESS WIRE)--March 1, 2007--Beacon Roofing
Supply, Inc. ("Beacon" or the "Company") (Nasdaq: BECN) announced
today that Andrew ("Drew") Logie has retired from his position as
Chairman of the Company's Board of Directors and that Robert ("Bob")
Buck, President and CEO, has been appointed the Company's new Chairman
of the Board. Mr. Logie will remain a Director.
In 1984, Mr. Logie and a group of investors acquired the Company's
predecessor, Beacon Sales Company, Inc., which was founded in
Charlestown, Mass. in 1928. As its new CEO, Mr. Logie oversaw the
growth of the business from three to seven branches, with sales
increasing six-fold to $70 million in 1997. From 1997 to October 2003,
he was the Company's Chairman and Chief Executive Officer, and also
President for most of that period. He served as the Company's Chairman
thereafter. Mr. Logie has over 40 years of experience in the roofing
industry.
Mr. Buck joined the Company as President and CEO in October 2003
and has overseen the growth of the Company from 65 branches to the
current 158 branches and from approximately $600 million in annual
sales to $1.5 billion in fiscal year 2006. Prior to joining the
Company, he served as President--Uniform Rental Division of Cintas
Corporation from July 1997. From 1991 through 1997, he served as
Senior Vice President--Midwest Region of Cintas. From 1982 through
1991, he served as Senior Vice President--Finance and Chief Financial
Officer of Cintas. Mr. Buck presently serves as a director of Kendle
International, Inc. and Multi-Color Corporation, both of which are
Nasdaq-traded companies, and privately-held LVI Services, Inc.
Commenting on his new role and Mr. Buck's appointment, Mr. Logie
said, "It has been an honor to serve as Chairman of the Company for
the past ten tremendously successful years and I am pleased to hand
over the reigns to Bob's capable hands. I am confident that Bob will
continue to lead the Company to new record levels of sales and profits
in the future, and I plan to assist him in that effort as a continued
active member of the Board." Mr. Buck remarked, "Drew's strong work
ethic and strategic foresight formed Beacon into a regional leader in
the roofing distribution industry, and he has assisted in our
continued rapid growth to be one of the three largest distributors of
roofing materials and complementary building products in North
America. We look forward to Drew's continued contributions as an
integral member of our Board."
About Beacon Roofing Supply, Inc.
Beacon Roofing Supply, Inc. is a leading distributor of roofing
materials and complementary building products, operating 158 branches
in 31 states in the United States and Canada.
Forward-Looking Statements:
This release contains information about management's view of the
Company's future expectations, plans and prospects that constitute
forward-looking statements for purposes of the safe harbor provisions
under the Private Securities Litigation Reform Act of 1995. Actual
results may differ materially from those indicated by such
forward-looking statements as a result of various important factors,
including, but not limited to, those set forth in the "Risk Factors"
section of the Company's latest Form 10-K. In addition, the
forward-looking statements included in this press release represent
the Company's views as of the date of this press release and these
views could change. However, while the Company may elect to update
these forward-looking statements at some point, the Company
specifically disclaims any obligation to do so other than as required
by federal securities laws. These forward-looking statements should
not be relied upon as representing the Company's views as of any date
subsequent to the date of this press release.
CONTACT:
Beacon Roofing Supply, Inc.
Dave Grace
978-535-7668 x14
CFO
SOURCE:
Beacon Roofing Supply, Inc.