Jarden adds to its executive team
On the heels of a financially sound 2013, Jarden Corporation has re-ordered and expanded its executive management structure in order to align the company with its current scale.
"We are focused on maintaining our growth and positive momentum in the future having just completed a significant acquisition and finishing a year that included record revenues, record segment earnings, record operating cash flow, and record adjusted earnings per share," said CEO James Lillie. "At Jarden, we have a talented team, powerful brands and a diversified global operating model that affords us numerous opportunities for expansion. The expansion of our leadership team will further strengthen the foundation we have built at Jarden. We expect this structure to enhance operational efficiency, reduce risk and support our next stage of growth and profitability."
Current vice-chairman and CFO Ian Ashken has been promoted to the role of vice-chairman and president. He will maintain his primary responsibility for the company’s financial, legal and administrative functions and increase his focus on ensuring consistency across its expanding global business. Ashken was one of the original co-founders of the company in 2001 and has played an integral role in its success since.
Current CFO, Jarden Consumer Solutions Al LeFevre has been promoted to EVP finance and CFO, effective June 12. He has been with Jarden since it acquired American Household in 2005; he had been with the latter company since 1997.
Joining LeFevre at the EVP level will be current EVP general counsel John Capps, who will assume the role of EVP administration and general counsel in September, taking over for incumbent retiree David Tolbert. EVP finance Rich Sansone will assume the role of EVP operations, effective immediately.
Executive chairman Martin Franklin noted that the company had achieved annualized revenue of $8 billion, with more than 120 brands in over 100 countries around the world.
The company will maintain its Office of the Chairman structure with Ashken, Franklin and Lillie.
Boise Cascade set to distribute Latitudes and Deckorators products
Delanco, N.J.-based Boise Cascade Building Materials Distribution has booked a new partnership with Universal Consumer Products, Inc., a subsidiary of Universal Forest Products, Inc.
Under the terms of the new deal, Boise Cascade will distribute the full line of Latitudes Decking & Railing products and Deckorators CXT Railing Systems throughout the Mid-Atlantic region.
“We’re very pleased to add the high-quality and diverse products in the Latitudes and Deckorators lines to our product mix here in Delanco," said Bill Shellhorn, Boise distribution manager. "It’s the most complete package of decking and railing options we’ve seen, and the quality is second-to-none. We feel the strength of this offering, combined with Boise’s solid reputation for service and representation, will provide a tremendous opportunity for retailers and deck builders in the New Jersey, Pennsylvania, Delaware and New York markets."
Latitudes is a composite decking and railing line that features weather- and decay-resistant Strandex technology, meaning the wood fibers are encased in high-density polyethylene.
Meanwhile, CXT Railing is co-extruded from two layers of materials for added durability and low-maintenance appeal.
Boise Cascade has facilities in New Jersey, eastern Pennsylvania, Delaware, southern New York and northern Maryland.
3M invests in MSi Lighting
After working with the company for the past year on a line of LED lights for multiple applications, 3M has invested in Boca Raton-based MSi Lighting.
“3M’s Light Management platform enables the company to manipulate light in different ways, and we are committed to developing high-quality LED lights,” said Gabi Sabongi, VP 3M Corporate Ventures. “Solid-state lighting technology has the potential to reduce U.S. lighting energy usage by nearly one half and contribute significantly to the nation’s climate change solutions. MSI’s technology is a great fit with 3M and takes our business relationship to the next level in a way that complements both companies.”
“The relationship between MSi and 3M is already strong,” added MSi president John Burke. “This investment allows us to further share ideas and innovations in LED. With 3M’s range of technologies and expertise in optical science, we are very excited about the future and new ways to serve customers.”
The specific terms of the transaction were not disclosed.