HBSDealer Stock Watch: Strong Friday finish
Industry stocks closed out the week on a positive note, as two-thirds of home improvement and building supply companies registered gains. JELD led the way with a 2.79% increase while BLDR was up 2.52%. Meanwhile, SHLD fell 7.44%.
Derby Building Products names new CEO
Ralph Bruno has been named CEO of Derby Building Products. Formerly known as Novik, Derby manufactures the Tando and Novik brands of exterior cladding products.
In his new role, Bruno will provide strategic direction and leadership for the company, as its Tando and Novik brands of shake and stone continue to expand throughout the U.S. and Canada, the company said in a press release. Francois Giroux, who held the CEO position since 2014 for Novik, recently announced his retirement.
“It is humbling to be selected leader of such a great company,” Bruno said. “Francois Giroux built an incredible operational foundation over the past seven years, serving as general manager, CFO and then as CEO. This foundation gives our team a platform to grow our share and reach in the marketplace."
Prior to joining Derby, Bruno was national sales manager of Trex Company in the early 1990s before starting Azek Building Products in 2000 — where he served as president until 2009. The Azek brand was conceived and developed by Bruno, under the supportive ownership of Clearview Capital, the same team that owns Derby Building Products. Bruno joined Derby as president in 2014.
“Our Derby team and distribution partners, like our unique products, are second to none," Bruno said. "Over the years, it has been an exciting journey to help grow the market with brands that have completely changed and shaped the face of the exterior building materials industry. The opportunity for the team at Derby and our customers is even greater than my past experiences."
Based in Quebec City, Quebec, Derby maintains manufacturing facilities in Canada and Miami.