Stock names new CEO
Stock Building Supply has named Jeffrey Rea, a former Johns Manville executive, as its new CEO, effective immediately. Rea will replace Joe Appelmann, who left the company this week.
Rea most recently served as president of Tyco Electronics Specialty Products Group, which was comprised of four separate global businesses. While serving in this role, Rea implemented double-digit organic growth strategies, and led a significant increase in strategic investments and organization capability while delivering strong operational performance. Prior to joining Tyco Electronics, Rea was a senior executive at Johns Manville, where he rose from VP and general manager of the building insulation business to senior VP Johns Manville Building Products Group, which included the building insulation, performance materials and roofing systems businesses.
Before joining Johns Manville, Rea served 15 years in various leadership roles at General Electric, including five years on GE’s corporate audit staff.
Based in Raleigh, N.C., Stock operates LBM outlets in 21 markets across the United States and includes Coleman Floor Co., Smoot Lumber Co., Bison Building Materials and National Lock Center.
Appelmann out at Stock Building Supply
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.”
Circular of the Week
This year, get your Thanksgiving wares at the hardware store. Montana-based Billings Hardware is featuring deals on everything from pop-up turkey timers to lancers and even infrared turkey fryers and marinade injectors. Not to fall too far behind the Christmas curve, it is also starting deals on outdoor lights and accessories, including an extreme cold-weather extension cord.
• CharBroil oil-less infrared turkey fryer for $165; • Six-piece party traveler kit for $25; and • Weston Brand heavy-duty food slicer for $99.
The Skinny: While supplies last
The message of urgency takes up just a small amount of real estate on a circular, but its impact is huge. The red banner with “While Supplies Last” in bold letters above the circular sends a clear message to customers: It’s in their interest to come to the store as soon as they can.