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ProBuild
Carolyn Atkinson
Director of Marketing & Communications
360-350-3167 |
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| ProBuild Names Hylbert Chief Executive |
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| Fred Marino To Focus on Growth Strategies |
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Boston, MA (January 25, 2007) - ProBuild Holdings Inc., the nation's largest professional building materials supplier, today announced the promotion of industry veteran Paul W. Hylbert to chief executive officer, succeeding Frederick M. Marino, who will remain as vice chairman of ProBuild focusing on growing the company through acquisition and new business development.
"Paul Hylbert has more than 40 years of experience in this industry that will be invaluable as we develop and implement our strategic plan throughout our core business," said Paul L. Mucci, ProBuild chairman. "Moving Paul from the chief operating to the chief executive role enables Fred to now use his enormous talent at developing business to uncover as well as create new opportunities for us to grow beyond what we are today."
Marino led the team that, along with Fidelity Capital, acquired the Strober Organization, taking it private in March 1997. Under his leadership, this initial investment, which eventually became ProBuild Holdings, grew from $150 million in annual revenue in 1997 to its current 2006 annual revenue of nearly $ 6 billion.
"I am pleased to transition leadership of this great company to Paul Hylbert as I concentrate my energies on finding new growth opportunities for us," said Marino.
Mucci said Executive Vice President Ben Phillips would assume the role of chief operating officer while an internal and external search was conducted for a permanent successor. He added that Marino, Hylbert and Phillips would remain as directors of ProBuild.
"These changes position ProBuild to grow significantly as we maximize the expertise resident within our executive ranks to capitalize on the many opportunities that exist in the market for a company of our size and resources," said Mucci.
Hylbert previously served as the chief executive officer of the Lanoga Corporation, which was purchased by ProBuild in February 2006. Prior to Lanoga, he spent nine years as President of PrimeSource, one of the largest distributors of building materials in the United States.
Hylbert began his career in the lumber industry at Wickes Companies, where, during his 21 years of service, he held a variety of positions from warehouseman to Managing Director of Wickes Europe and to SVP and General Manager of Wickes Lumber.
About ProBuild Holdings, Inc.
ProBuild Holdings is the nation's largest supplier of building materials to professional contractors. Currently operating more than 500 lumber and building product distribution, manufacturing and assembly centers throughout the U.S., ProBuild trades under several regional brands, including: United Building Centers, Spenard Builders Supply, Lumbermens, Home Lumber Company, Dixieline Lumber Company, F. E. Wheaton, Hope Lumber and Supply, Strober Building Supply, U.S. Components, and The Contractor Yard. |
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