JELD-WEN ANNOUNCES MANAGEMENT SUCCESSION
KLAMATH FALLS, OREGON – February 17, 2014 – JELD-WEN, inc. (“JELD-WEN”), today announced the appointment of Kirk Hachigian as the company’s President and Chief Executive Officer. Mr. Hachigian, Chairman of JELD-WEN’s board of directors, will succeed Philip Orsino, who has led the company since Onex Corporation (TSX:OCX) invested in JELD-WEN in October 2011. In March, Mr. Orsino will retire as President and Chief Executive Officer and from the company’s board but will remain with JELD-WEN as a corporate Vice-Chairman, continuing to provide leadership in the areas of strategy, technology and commercial operations. Mr. Orsino will also be resuming his strategic partnership with Onex Corporation, focusing on new investment opportunities in the global building products industry. "I am pleased to have led JELD-WEN during an exciting period of change and transition for the company and look forward to being involved in its continued success in the years to come,” said Mr. Orsino. “The company is well positioned for the future with truly remarkable people and strong partnerships with its customers and suppliers." Rod Wendt, JELD-WEN’s Vice-Chairman of the board, said, “Philip joined us at a critical time when we needed someone with his capabilities and years of experience in the industry. His leadership is evident throughout the company and he has helped set JELD-WEN on a path for great success.”
“This is a great time to join JELD-WEN, which has built a reputation around the world as a leader in the window and door industries,” said Mr. Hachigian. “I have the good fortune to join a world-class management team that is focused on and motivated by innovation, efficiency and all around excellence for JELD-WEN’s customers.”
During his career, Mr. Hachigian previously served as Chairman, President and Chief Executive Officer of Cooper Industries, a manufacturer of electrical products, until its merger with Eaton Corporation in 2012. Prior to joining Cooper, Mr. Hachigian was President and Chief Executive Officer of Asia Pacific Operations for GE Lighting. Mr. Hachigian brings to JELD-WEN extensive experience in the residential and commercial construction end markets globally, including selling through both traditional distributors and major home centers. He earned a Master of Business Administration from The Wharton School at the University of Pennsylvania, and a Bachelor of Science in mechanical engineering from the University of California at Berkeley.
For more than 50 years, JELD-WEN has built its reputation as one of the world’s most reliable manufacturers of windows and doors. Today the company offers a full breadth of stylish windows and doors, and has earned numerous awards and endorsements for dependability, innovation and excellence. With a strong commitment to sustainability, JELD-WEN also is a recognized leader in manufacturing energy efficient products – providing solutions that deliver exceptional value for builders, architects and homeowners all over the globe. JELD-WEN has been an ENERGY STAR® Partner since 1998. For more information about JELD-WEN, or to find a dealer, visit www.jeld-wen.com or call 800-877-9482.