Kirk Hachigian, 58, who came to the Jeld-Wen Holding Inc. (NYSE: JELD) board in 2013 and later served as an interim CEO there, will retire after the company’s annual meeting in May. Hachigian says his five years at Jeld-Wen have been a “great honour.”
Jeld-Wen CEO Gary Michel says he has considered Hachigian his coach and mentor since joining the company in June 2018.
Michel told analysts during the earnings call that the company is on sound grounds for continued growth in the future. “I am confident that the operational progress that we’ve made in the year has set the foundation for consistent profitable growth at Jeld-Wen,” he announced.
The company reported increases for the fourth quarter earning 39.7 million US dollars, or 38 cents a share, compared with a loss of 93.7 million US dollars, or 89 cents per share, in 2017, bringing full-year net income to 144.3 million US dollars on net revenue of 4.4 billion US dollars, compared with 2017’s 10.8 million US dollars in net income on net revenue of 3.8 billion US dollars.
Gary S. Michel, president and the chief executive officer said “We made solid progress in the quarter with the deployment of our business operating system, the Jeld-Wen Excellence Model or JEM, driving improved service levels and favourable labour efficiencies. These improvements have strengthened our relationships with channel partners and customers, which will contribute core revenue growth and margin expansion in 2019.”