David Grace, the executive VP and chief financial officer of Beacon Roofing Supply, will retire effective Jan. 1, 2013, for health reasons. A nationally recognized executive recruiting firm is conducting a search for his successor. Grace will remain in his current role until a new CFO is named and has also agreed to devote as much time as necessary to ensure a seamless transition.
Grace joined Beacon as an accountant in 1987, when it operated only three branches, and served in positions of increasing responsibility until he was named CFO in 1997. He was most recently promoted to executive VP on Jan.1, 2011. In addition to leading Beacon’s financial organization, Grace also oversees information technology and investor relations.
Paul Isabella, the company's president and CEO, stated: "Throughout his 25-plus years of service to Beacon, Dave has been a key part of the company's tremendous growth and success, including the completion of our 2004 IPO, a secondary offering in 2005, and many debt financings and acquisitions. He has built strong finance and IT teams and a disciplined financial culture that will serve the company well in the years ahead. Although we certainly will miss Dave's leadership and guidance, we understand and appreciate his decision that his health and family are his main focus at this time. We are grateful that Dave will continue to lead his departments until we transition to his successor.”
Beacon Roofing Supply is a leading distributor of roofing materials and other exterior building products. Headquartered in Peabody, Mass., the company operates 206 branches in 38 states in the United States and across Canada. It listed in 4th place with $1.9 billion in sales on the 2012 HCN Pro Dealer Scoreboard.