LP Building Solutions announced that its Board of Directors has elected W. Bradley Southern as chairman, effective immediately. Southern will also continue to serve as chief executive officer (CEO) of the building solutions company, a role he has held since July 2017.
NASHVILLE, Tenn. (May 22, 2020) – LP Building Solutions (LP) (NYSE: LPX) today announced that its Board of Directors has elected W. Bradley Southern as chairman, effective immediately. Southern will also continue to serve as chief executive officer (CEO) of the building solutions company, a role he has held since July 2017. Southern succeeds E. Gary Cook, who has served as chairman since 2004 and a director since 2000 before reaching the required retirement age.
Additionally, the LP Board of Directors announced that Dustan E. McCoy has been appointed lead independent director, effective immediately.
"We are excited to have Brad Southern assume the role of chairman," said McCoy. "The combination of the offices of CEO and chairman underscores the Board's confidence in Brad. During his tenure as CEO, Brad has been instrumental in driving the company's strategic transformation, which is making the company stronger and more resilient. LP is well-positioned to drive shareholder value under Brad's direction, and our shareholders, customers and employees will all benefit from his leadership."
"I am honored by the Board's support as we steward LP's mission to help customers build beautiful, durable homes so that shareholders can build lasting value," said Southern. "On behalf of everyone at LP, we thank Gary for his years of unwavering leadership and prudent counsel. Gary followed his own esteemed career by helping to shape LP over the last 20 years into the company it is today. As we position LP for another half century of success, we are grateful for his contributions."
Named 2019 North American CEO of the Year by Fastmarkets RISI, Southern joined LP in 1999 and became the company's fifth CEO in 2017. As CEO, he directs LP's strategic transformation and is responsible for all aspects of LP's business and operations.
McCoy joined the company's Board of Directors in 2002, serving on the Compensation and Nominating and Corporate Governance committees and now as lead independent director. He is the former chairman, CEO and director of Brunswick Corporation, a market leader in the marine, fitness and billiards industries, until his retirement in 2016. McCoy also serves on the Board of Directors of Freeport-McMoRan, Inc. and YETI Holdings, Inc.
About LP Building Solutions - As a leader in high-performance building solutions, Louisiana-Pacific Corporation (LP Building Solutions, NYSE: LPX) manufactures engineered wood building products that meet the demands of builders worldwide. Its extensive offerings include innovative and dependable building products and accessories, such as LP® SmartSide® Trim & Siding, LP Structural Solutions portfolio (LP WeatherLogic® Air & Water Barrier, LP Legacy® Premium Sub-Flooring, LP® TechShield® Radiant Barrier, LP® FlameBlock® Fire-Rated Sheathing and more), oriented strand board (OSB), LP® TopNotch® Sub-Flooring, LP® Outdoor Building Solutions®, and LP Elements® Performance Fencing. In addition to product solutions, LP provides industry-leading service and warranties. Since its founding in 1972, LP has been Building a Better World™ by helping customers construct beautiful, durable homes. Headquartered in Nashville, Tennessee, LP operates 26 plants across the U.S., Canada, Chile and Brazil. For more information, visit LPCorp.com.