Content about Company Reorganization

February 20, 2014

Building products distributor BlueLinx reported sales gains for the fourth quarter and full year, but still finished in the red. 

For the quarter, sales increased 10.4% to $486.3 million. The company narrowed its fourth quarter net loss to $2.5 million, compared to a net loss of $11.4 million in the same quarter last year. 

December 10, 2013

What does a humanitarian mission in Bangladesh have to do with the growth of an iconic American brand, or a new color scheme for American Standard?

Actually, a lot. And the connection between the three — and several other initiatives at Piscataway, N.J.-based American Standard Brands — revolves around relatively new CEO Jay Gould.

November 26, 2013

In response to the company's management restructuring initiative, which reduced the responsibilities of his position, COO Jeff Beck has left iRobot amid the company's 2014 planning cycle.

The company decided to streamline leadership for operational efficiency after shifting the company's focus to three essential market segments in the beginning of 2012.

October 31, 2013

Amid numerous restructuring programs, Atlanta-based distributor BlueLinx Holdings posted a net loss of $3.2 million in the third quarter ended Sept. 28. In the same quarter last year, the company posted earnings of $3.1 million.

Revenues for the fiscal third quarter increased 12.3% to $558.0 million from $496.8 million for the same period a year ago. Overall unit volume increased 11.9% compared with the same period a year ago.

October 28, 2013

Roughly one month after the news of his resignation, former Sears Canada CEO Calvin McDonald has disclosed his new position as president and CEO of Sephora Americas.

Effective Jan. 1, McDonald will replace David Suliteanu, who has served as president and CEO since 2000 and will move on to become CEO of Kendo Brands, a separate entity of parent company LVMH.

October 3, 2013

In an effort to recalibrate its branding efforts and global investments, Newell Rubbermaid is consolidating a number of marketing agencies worldwide into one lead creative partner and one lead media-buying partner.

Bartle Bogle Hegarty (BBH) will serve as lead creative agency, wherein it will assume responsibility for strategy, creative execution and implementation of all brand-related communication channels. Led by BBH New York, the assignment will have global support from the company's network. 

September 17, 2013

Terry L. Polistina, president of the Global Appliances division at Spectrum Brands Holdings, Inc., is stepping down following the completion of a months-long succession plan. He will continue to serve as a member of the company's Board of Directors.

Effective Sept. 30, Polistina will leave the company on the heels of a successful multi-year restructuring and integration of the Global Appliances business. His planned departure has made way for a new management structure at the company, per a succession plan outlined earlier in the year.

August 12, 2013

It’s official: The House-Hasson Hardware acquisition of Moore-Handley is in the books.

The final asset disposition remaining from the 2009 deal that brought the former hardware distributor Moore-Handley into the House-Hasson fold has been completed.

August 1, 2013

St. Louis-based Huttig Building Products reported second quarter sales of $148.9 million, up from $137.8 million in the same quarter last year.

Net income also showed an increase in the three months ended June 30 -- up from $1.6 million last year to $2.6 million. 

Huttig distributes building products through 27 distribution centers serving 41 states. Customers are building material dealers, national buying groups, home centers and others.

June 26, 2013

 

Atlanta-based building products distributor BlueLinx Holdings says it will take a hard look at five of its distribution centers with a view toward selling or possibly closing some of them.

The action, which also includes a "realignment of headquarters resources," follows the departure of CEO George Judd, who left the company last month. A search for his successor is ongoing.

June 5, 2013

Winchester, Va.-based American Woodmark Corp. saw sales rise 26% in the fourth quarter, with double-digit gains in each of its sales channels. 

Net sales for the quarter ended April 30 reached $171.1 million, as it swung to a profit of  $5.2 million, compared with a fourth-quarter loss of $6.0 million in 2012.

April 15, 2013

The Wall Street Journal reported that Orchard Supply Hardware hired restructuring lawyers as it strives to improve its balance sheet.

April 11, 2013

Lynn Bradley, senior director, retail development, is out at Handy Hardware Wholesale, a cost-cutting move according to the Houston-based co-op.

March 15, 2013

On March 31, John Venhuizen will step from behind the scenes into one of the most front-and-center posts in the hardware business — that of CEO of Ace Hardware Corp. After standing and delivering a motivational presentation to thousands of dealers at the co-op's Spring Convention & Exhibits in New Orleans, he sat down with HCN.

HCN: What worries you as you step into the CEO role?

March 15, 2013

Houston-based hardlines co-op Handy Hardware Wholesale submitted papers for their much-anticipated plan of reorganization March 6.

The 1,300-member regional co-op filed for Chapter 11 bankruptcy in January. Whether Handy can return to its place as a meaningful and profitable player in the hardware business remains to be seen. This much is certain: What was once $27 million in member equity in Class A and Class B shares has vanished.

November 13, 2012

Energizer Holdings has announced a multi-year restructuring plan designed to save the company approximately $200 million, improve profitability and drive long-term growth. The St. Louis, Mo.-based manufacturer expects that a substantial portion of the actions necessary to achieve the targeted savings should be completed by the end of fiscal 2014 and the total savings are expected to be fully realized in fiscal 2015.

October 26, 2012

In addition to an extensive structural makeover, dubbed "Project Renewal,"  Newell Rubbermaid president and CEO Mike Polk announced a new leadership team that includes outside appointments to several executive positions.

March 30, 2012

ProBuild Holdings, the nation’s largest pro dealer, has announced a restructuring that will eliminate several high-level management positions, lay off a number of people and institute a hiring freeze at its Denver headquarters.

In an internal memo obtained by Home Channel News, ProBuild’s CEO Rob Marchbank outlined the new leadership and reporting structure of the Denver-based company. The executive VP operations layer of management will be eliminated, and all senior VPs operations will report directly to Marchbank.

March 22, 2012

ProBuild Holdings, the nation’s largest pro dealer, has announced a restructuring that will eliminate several high level management positions, lay off a number of people, and institute a hiring freeze at its Denver headquarters. 

In an internal memo obtained by Home Channel News, ProBuild’s CEO Rob Marchbank outlined the new leadership and reporting structure of the Denver-based company. The executive VP operations layer of management will be eliminated, and all senior VPs of operations will report directly to Marchbank.

November 16, 2011

Newell Rubbermaid is consolidating its current three operating groups into two -- Newell Consumer and Newell Professional.

The move, part of its previous realignment of its global business units as part of its Project Renewal initiative, will also see 13 global business units roll into nine. These changes take effect Jan. 1, 2012.

October 11, 2011

ProBuild Holdings has confirmed that it is leaving the Chicago market, where it waged a battle with labor union members a year ago. A spokeswoman for the Denver-based pro dealer, the largest in the industry, told Home Channel News that the company would close its Yorkville, Ill., and Westmont, Ill., facilities by Dec. 16.

September 28, 2011

Orchard Supply Hardware has gone through a lot of changes in its 80-year history, but the California chain — now numbering 89 units with $660.7 million in annual sales — has weathered them all. Changes in ownership, leadership, store design, color scheme and signage have come and gone. But the stores’ customers — known for their exceptional loyalty — have generally stuck with the chain. 


August 30, 2011

Lowe's has announced a restructuring in both in-store operations and merchandising organizations that will thin the ranks of its management and consolidate both its regions and divisions.

Lowe's merchants have been reorganized into two product divisions, each led by a senior VP/general merchandising manager. Both will report to executive VP merchandising Robert Gfeller Jr. 

June 21, 2011

Grand Rapids, Mich.-based Universal Forest Products has announced that CEO Michael Glenn is retiring due to health reasons and to make way for new leadership to "build on Universal's strengths and prepare for future opportunity." The board of directors is currently in the process of evaluating candidates for the position. Glenn, who was appointed CEO in 2006, has agreed to stay on until a new CEO is named.

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