Robert Mellor joins board of Stock Building Supply
Stock Building Supply has announced the appointment of Robert Mellor to its board of directors, where he will “provide expertise on expanding Stock’s business opportunities and help position the company for anticipated future growth,” according to the company.
Until recently, Mellor, 67, served as chairman and CEO of Building Materials Holding Corp. (BMHC), one of Stock’s chief rivals. He led the company in that position since 1997. BMHC emerged from Chapter 11 on Jan. 4 as BMC Select with a new executive team, with Paul Street, its former general counsel, named as the CEO.
“Our focus this year is to strengthen and extend our market footprint,” said Joe Appelmann, Stock’s president and CEO. “Rob Mellor brings extensive management experience and knowledge of the real estate, building supply and home-building industries to the company. His addition will be beneficial in many ways, including helping to identify and better understand the needs of Stock’s current and future customers. We are very fortunate to have him as part of our team.”
Mellor also serves on the board of directors of the Ryland Group, one of the nation’s largest home builders. He is a board member and lead director of Coeur d’Alene Mines Corp., a New York Stock Exchange company with headquarters in Coeur d’Alene, Idaho. Mellor has also served as counsel at Gibson, Dunn & Crutcher in San Francisco.
Headquartered in Raleigh, N.C., Stock Building Supply, affiliated with The Gores Group private equity firm, operates in 19 markets nationwide.
Stock makes bid for National Home Center
Stock Building Supply has made a bid to purchase National Home Center, the Springdale, Ark.-based pro dealer that filed for Chapter 11 reorganization on Dec. 8, 2009. Under the agreement made with National, Stock will act as a “stalking horse” bidder for the purchase of substantially all of the assets of National Home Center.
The deal must still gain the approval of the U.S. Bankruptcy Court, Western District of Arkansas. In a press release, Stock said it intends to complete the transaction through a wholly-owned subsidiary no later than April 5.
Stock recently hired Matthew Spain, a former M&A director with investment bank UBS, as its new director of business development. Spain has been charged with the task of looking for strategic acquisitions to round out Stock’s footprint, which now covers 19 markets in the United States. The Raleigh, N.C.-based company is an affiliate of The Gores Group, a private equity firm headquartered in Los Angeles.
With $145 million in sales in 2008, National Home Center ranked in 41st place on the Home Channel News Top 350 Pro Dealer Scoreboard. Sales in 2007 were $190 million, according to HCN data.
Founded in 1972, the 10-unit chain serves builders and homeowners in Arkansas, northeast Oklahoma, southeast Kansas and southwest Missouri. All of its locations, including two flooring superstores, are within the state of Arkansas.
Lowe’s announces two promotions
Lowe’s has announced the appointment of Ronnie Damron to the position of SVP store planning and environment. Damron has served since 2006 as VP new store set-up and remerchandising. He joined Lowe’s in 1979 in the Pikeville, Ky., store and has served as store manager, district manager and regional VP.
Damron replaces longtime merchandising and store planning executive R. Vaughn Hayes, who will retire on March 5 after nearly 39 years with the company.
Lowe’s has also promoted Cedric Coco to the position of SVP learning and organizational development. Coco has served in that role as VP since joining the company in 2008 from Microsoft. He is responsible for enterprise-wide leadership development, talent acquisition, talent management and learning strategies, as well as the company’s diversity efforts.