Gibraltar Announces Planned 2025 Retirement of Chief Financial Officer Timothy F. Murphy
February 21 2024 - 7:31AM
Business Wire
Company Retains Executive Search Firm to
Identify Successor
Gibraltar Industries, Inc. (Nasdaq: ROCK), a leading
manufacturer and provider of products and services for the
renewable energy, residential, agtech and infrastructure markets,
today announced that Senior Vice President and Chief Financial
Officer Timothy F. Murphy has notified the Company of his intention
to retire from the Company in early 2025. Mr. Murphy will continue
in his current role until his successor is named and will assist
with an orderly transition. Gibraltar has retained an executive
search firm to begin the recruitment process.
Tim Murphy commented, “I am grateful to have had the opportunity
to work with such strong, capable teams over my tenure. Gibraltar
has accelerated its transformation, made measurable operational
improvements and created significant shareholder value over the
past several years. Given the strength of our team, I am
comfortable turning the reins over to a successor and look forward
to continuing to drive success and facilitate a transition over the
coming year.”
Bill Bosway, Chairman and Chief Executive Officer, stated,
“Throughout his 20-year tenure, Tim has been instrumental in
Gibraltar’s growth, profit delivery and successful transformation,
and he has been a tremendous partner and dedicated change leader
for me and the organization. His skill, integrity, commitment, and
judgment have been greatly appreciated, and we will value his
contributions and support as we identify and transition in his
successor and continue to drive scale and execution.”
About Gibraltar
Gibraltar is a leading manufacturer and provider of products and
services for the renewable energy, residential, agtech, and
infrastructure markets. Gibraltar’s mission, to make life better
for people and the planet, is fueled by advancing the disciplines
of engineering, science, and technology. Gibraltar is innovating to
reshape critical markets in comfortable living, sustainable power,
and productive growing throughout North America. For more please
visit www.gibraltar1.com.
Forward-Looking Statements
Certain information set forth in this news release, other than
historical statements, contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of 1995
that are based, in whole or in part, on current expectations,
estimates, forecasts, and projections about the Company’s business,
and management’s beliefs about future operations, results, and
financial position. These statements are not guarantees of future
performance and are subject to a number of risk factors,
uncertainties, and assumptions. Actual events, performance, or
results could differ materially from the anticipated events,
performance, or results expressed or implied by such
forward-looking statements. Factors that could cause actual results
to differ materially from current expectations include, among other
things, the availability and pricing of our principal raw materials
and component parts, supply chain challenges causing project delays
and field operations inefficiencies and disruptions, the loss of
any key customers, adverse effects of inflation, our ability to
continue to improve operating margins, our ability to translate our
backlog into net sales, other general economic conditions and
conditions in the particular markets in which we operate, changes
in spending due to laws and government incentives, such as the
Infrastructure Investment and Jobs Act, changes in customer demand
and capital spending, competitive factors and pricing pressures,
our ability to develop and launch new products in a cost-effective
manner, our ability to realize synergies from newly acquired
businesses, disruptions to IT systems, the impact of regulation
(including the Department of Commerce’s solar panel
anti-circumvention investigation, the Auxin Solar challenge to the
Presidential waiver of tariffs and the Uyghur Forced Labor
Prevention Act (UFLPA)), rebates, credits and incentives and
variations in government spending and our ability to derive
expected benefits from restructuring, productivity initiatives,
liquidity enhancing actions, and other cost reduction actions.
Before making any investment decisions regarding our company, we
strongly advise you to read the section entitled “Risk Factors” in
our most recent annual report on Form 10-K which can be accessed
under the “SEC Filings” link of the “Investor Info” page of our
website at www.Gibraltar1.com. The Company undertakes no obligation
to update any forward-looking statements, whether as a result of
new information, future events or otherwise, except as may be
required by applicable law or regulation.
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version on businesswire.com: https://www.businesswire.com/news/home/20240221717634/en/
LHA Investor Relations Jody Burfening/Carolyn Capaccio (212)
838-3777 rock@lhai.com
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