Building products distributor Beacon reported that Binit Sanghvi has been appointed as Head of Investor Relations.
Sanghvi most recently led investor relations for Builders FirstSource, the Dallas-based mega pro dealer with annual sales of over $13 billion.
For the last three years, Sanghvi managed the flow of information between Builders FirstSource, its shareholders, and the financial community, including communicating with buy-side investors and sell-side analysts. Previously, he held investor relations roles at multi-nationals ABB Group. Earlier in his career, he held a broad range of financial management positions of increasing responsibility in the manufacturing, consulting, and banking sectors.
“We are extremely pleased to welcome Binit to the Beacon team,” said Frank Lonegro, CFO of Beacon. “His depth of experience with investors and analysts in the building products space will bring tremendous value to Beacon as we continue to drive our strategies forward and create shareholder value."
Binit Sanghvi added, “I’m delighted to be joining Beacon at this unique time in its great history, and look forward to assisting Julian [Francis, President and CEO], Frank and the entire executive team communicate the Company’s strategic initiatives and performance drivers to the financial community.”
Based in Herndon, Va., Beacon operates more than 400 branches in the United States and Canada while serving over 90,000 customers.
Earlier this week, Beacon also named Christine Stroh Reddy as executive vice president, general counsel, and corporate secretary.