Another executive exits ProBuild
Jim Cavanaugh, president of operations at ProBuild and one of the company’s veteran executives, is leaving the company at the end of August, Home Channel News has learned. A spokeswoman for ProBuild confirmed the news and issued the following statement:
“We thank [Cavanaugh] for his many contributions to our company and wish him well in his future endeavors. Jim will continue to work closely with our operations team until Aug. 31, 2011, in order to ensure a smooth transition.”
Cavanaugh is the second high-level departure from the nation’s largest LBM chain in two weeks. On July 11 the Denver-based company circulated a memo to employees announcing that Bill Myrick, president and CEO, was no longer with the company. He has held the top job for less than one year after serving as chief operating officer for two years.
Cavanaugh served as president of Hope Lumber for 20 years, growing it to a 50-unit chain in the south central U.S. that largely served production builders. Hope Lumber was purchased by Lanoga Corp., which then joined ProBuild in 2006. Parent company Devonshire Investors, part of Fidelity Investments, put Lanoga together with The Strober Organization, forming the largest LBM chain in the nation.
In addition to his most recent title, Cavanaugh essentially took over the COO’s job when Myrick was promoted to CEO in September 2010. All regional presidents reported to Cavanaugh, who was then executive VP operations.
Cavanaugh has also held positions with Georgia-Pacific and Boise Cascade in his 30-year career.