Builders FirstSource surprisingly announced this morning that President and CEO Dave Flitman has stepped down to accept another opportunity outside of the industry.
Flitman was also a member of the company’s board of directors. The company did not say where Flitman is headed.
In the meantime, the board has appointed Dave Rush, executive vice president, to serve as interim CEO, effective immediately, until a permanent successor is named.
A special committee, led by Builders FirstSource Chairman Paul Levy, has also been formed to search for a new CEO.
Rush, 60, has spent 23 years with Builders FirstSource. In his current role as EVP, Strategic Management Office (SMO), Rush oversees the execution of enterprise-wide initiatives to advance the Company’s long-term strategy and provide enhanced value to stakeholders, the company said.
Prior, Rush led the integration and synergy efforts for our acquisitions of BMC and ProBuild.
“With deep operational, financial and business development capabilities, we are confident in Dave’s ability to lead Builders FirstSource as interim CEO,” Levy said. “Heading into the new year, we are well-positioned to continue to outperform the market, owing to a deep and experienced leadership team, fundamental strengths and advantages, a clear strategy and a strong balance sheet.”
Rush started his career at Builders FirstSource in 1999, serving in operational roles of increasing responsibility including as Chief Operating Officer of the company’s eastern division and EVP, Integration Management Office, responsible for the integration of Builders FirstSource and BMC.
“I’m honored and excited to serve as interim CEO during such an important time for the company," Rush said. "Despite a challenging macroeconomic environment, Builders FirstSource has an advantaged geographic footprint, industry-leading market position, and a strong culture, which position us well for continued success.”