Joe Appelmann, CEO of Stock Building Supply, is no longer with the company, according to a statement issued today by chairman of the board Tim Meyer.
Anew CEO has already been identified, according to a company spokesperson, and an announcement will be made “very shortly.”
Appelmann was a 22-year veteran of Stock, holding many key posts, including VP finance, senior VP logistics and chief operating officer. He became CEO in 2007 and led the company through a sale to The Gores Group, a Los Angeles private equity firm, and a major Chapter 11 restructuring.
Speaking about his departure, Appelmann said: “Stock is an exceptional place to work with a bright future. I would like to thank every associate for the courtesy and loyalty they extended to me during my tenure. My sincere hope is they will provide the same support to my successor. I cherish all of the friendships I developed over the years and look forward to maintaining those relationships in the future.
“It was a privilege to work with such a talented management team,” he added. “They were instrumental in transitioning the company to committed ownership and restructuring the organization for future growth and performance.”