Content about Securities and Exchange Commission

June 11, 2013
Board shift: Chairman steps down at Orchard Supply

William Crowley, chairman of the board of directors of San Jose, Calif.-based Orchard Supply Hardware, resigned as a Class A Director of the company.

The resignation was announced in an Orchard Supply filing with the Securities and Exchange Commission.

December 17, 2012
Price-fixing lawsuit filed against drywall suppliers

In a Securities and Exchange Commission (SEC) document filed on Dec. 17, USG Corp. and its subsidiary, United States Gypsum Co., disclosed that they have been named, along with seven other wallboard manufacturers, as defendants in a purported class-action complaint filed in the U.S. District Court for the Northern District of Illinois.

December 6, 2012
Masco names new board member

The board of directors of Masco Corp. has appointed Donald Parfet as a director, according to a Dec. 4 filing with the Securities and Exchange Commission. He will serve on the board’s audit committee.

Parfet, 60, is the managing director of Apjohn Group, a business development company, and a general partner of Apjohn Ventures Fund Limited Partnership, a venture capital fund. He currently serves on the boards of directors of Kelly Services and Rockwell Automation.

December 3, 2012
Deutsche Bank Securities to pay $20 million to LP

In a Dec. 3 filing with the Securities and Exchange Commission (SEC), Louisiana-Pacific (LP) announced it will receive a $20 million payment from Deutsche Bank Securities to settle a lawsuit between the two companies. Deutsche Bank Securities will pay the sum without admitting any liability or wrong-doing, and LP will dismiss the legal proceedings with prejudice. Each company will release the other from all claims and liabilities arising out of the sale and purchase of the auction rate securities.

October 16, 2012
Boise Cascade releases preliminary results

In an Oct. 15 filing with the Securities and Exchange Commission (SEC), Boise Cascade Holdings posted an estimate of the results for its third fiscal quarter, which ended Sept. 30, 2012.

Segment sales in the building materials distribution division were between $595 million and $615 million, with wood products accounting for another $255 million to $265 million. Net income was reported at $21.5 million to $25.1 million.

July 27, 2012
Masco settles price-fixing lawsuit

Masco Corp., which was scheduled to go to trial on July 23 in a class-action suit filed by insulation installers, has decided to settle the case for $75 million, according to a July 26 filing with the Securities and Exchange Commission (SEC). The Taylor, Mich., firm, one of the nation’s largest installers of insulation, issued the following statement in its filing: 

June 25, 2012
Former Temple-Inland CEO joins Weyerhaeuser board

Doyle Simons, the former chairman and CEO of Temple-Inland, has joined the board of directors of Weyerhaeuser, effective June 29, 2012, according to a filing with the Securities and Exchange Commission (SEC). The 49-year-old executive held various positions with Temple-Inland, including executive VP from 2005 through 2007 and chief administrative officer from 2003 to 2005. He became CEO and chairman in 2008 and served until February 2012, when Temple-Inland was acquired by International Paper Co.

June 18, 2012
Masco names new executive

Home products manufacturer Masco Corp. has promoted Jai Shah as its new VP human resources, replacing the retiring Charles Greenwood, according to a June 12 filing with the Securities and Exchange Commission (SEC).

Shah, 46, joined Masco in 2003 and most recently served as the company’s VP finance, retail/wholesale platform.

Greenwood will continue with Masco until 2013 to help ensure a smooth transition, the announcement said.

May 7, 2012
Sales rise, losses narrow at BFS

Builders FirstSource, the Dallas-based pro dealer, posted net sales of $219.4 million for its first fiscal quarter of 2012, a 34.7% hike over sales of $162.8 million in the same quarter of 2011. The increase was primarily due to increased sales volume as commodity prices for lumber and lumber sheet goods in the quarter were, on average, comparable to the same period a year ago, the company said.

May 1, 2012
Sears to spin off Hometown and Outlet stores

Sears Holdings Corp. filed documents with the Securities and Exchange Commission (SEC) on April 30 indicating its plans to spin off its Hometown and Outlet stores into a separate company, according to an article in the Chicago Tribune.

March 2, 2012
BFS executive departs

Brad Leist, the VP, controller and principal accounting officer at Builders FirstSource, has resigned his position to pursue other opportunities, according to a Feb. 28 filing with the Securities and Exchange Commission (SEC). Until the company fills that position, Chad Crow, senior VP and CFO at Builders FirstSource, will serve as the acting principal accounting officer.

February 22, 2012
Valspar names new controller

Brenda McCormick, Valspar’s assistant controller and senior finance director, was promoted to Controller, according to a Feb. 16 filing with the Securities and Exchange Commission (SEC). McCormick also served as  finance director at Valspar. 

In previous experience, McCormick held positions as director financial reporting, planning and analysis at Lawson Software and director financial reporting - consumer products at International Multifoods.

November 15, 2011
Masco exec departs

Donald DeMarie Jr., executive VP and chief operating officer of Masco, has left the company “to pursue other opportunities,” according to a Nov. 10 filing with the Securities and Exchange Commission (SEC). DeMarie’s departure was effective Nov. 4.

Masco and DeMarie are working together to ensure a smooth transition, according to the SEC filing.

October 5, 2011
Boise Cascade CEO signs on for three more years

Boise Cascade has entered into a three-year retention agreement with its current CEO, Thomas Carlile, according to an Oct. 5 filing with the Securities and Exchange Commission  (SEC). The employment agreement extends to Sept. 30, 2014.

The SEC filing also announced the retirement of David Gadda, the company's VP legal, effective Dec. 31, 2011.

September 21, 2011
Owens Corning adds board member

Owens Corning has added John Williams, the president and CEO of Domtar, as its newest director, according to a filing with the Securities and Exchange Commission (SEC). Williams was elected after the Owens Corning board decided to increase its size by one member. His term expires in 2014.

Williams will serve on the audit and finance committees.

Domtar Corp. is a Montreal-based producer of paper and pulp products. 

September 1, 2011
Former Beazer CFO to pay $1.4 million

The Securities and Exchange Commission (SEC) has announced a settlement with the former chief financial officer of Beazer Homes USA to recover his bonus compensation and stock sale profits from the period when the Atlanta-based home builder was committing accounting fraud, according to an Aug. 30 announcement. 

August 30, 2011
USG to close nine locations

USG Corp., a manufacturer of Sheetrock and other building materials, will close eight of its L&W Supply distribution branches by the end of the third quarter, according to an Aug. 25 filing with the Securities and Exchange Commission (SEC). The Chicago–based company will also shutter its Nevada custom door and frame business.

August 24, 2011
Head of Craftsman tools resigns

Scott Freidheim, president of the Craftsman, Kenmore and DieHard brands at Sears Holdings, has resigned, according to an Aug. 23 filing with the Securities and Exchange Commission (SEC). Freidheim, who took over the position seven months ago, is leaving on Sept. 2 “to pursue another opportunity,” the SEC filing said.

April 26, 2011
BlueLinx announces $60 million stock offering

In an effort to raise $60 million, building products distributor BlueLinx has announced it will commence a rights offering of common stock to its stockholders. The proceeds will be used to pay down debt and fund working capital, the company said in an April 26 filing with the Securities and Exchange Commission (SEC). 

April 12, 2011
HD Supply exploring sale of HVAC business

HD Supply is exploring “strategic alternatives” with respect to its plumbing and HVAC business, according to a filing with the Securities and Exchange Commission. The April 8 filing did not elaborate on the possibilities, except to say that it notified its employees on April 5. 

April 5, 2011
BFS files early results

In connection with a recent offering of senior secured notes, Builders FirstSource filed financial results for the fist two months of 2011 with the Securities and Exchange Commission (SEC) on April 5.

Sales for January and February 2011 were $95.7 million, a 4.2% increase over sales of $91.8 million for the two months ended Feb. 28, 2010. Lumber commodity prices were comparable over these same periods, and single-family housing starts declined 19.8% in its markets during January and February.

March 28, 2011
Owens Corning executive resigns

Stephen Krull, senior VP and general counsel of Owens Corning, has resigned, effective immediately, to pursue another opportunity, according to a Match 28 filing with the Securities and Exchange Commission (SEC). 

Krull will work with the company to ensure an orderly transition in responsibilities, the SEC document said. Owens Corning also announced that it has appointed John Christy as the interim general counsel. 

February 25, 2011
Huttig Building Products reports 2010 results

Huttig Building Products, the St. Louis-based distributor, reported net sales of $467.7 million for fiscal 2010, a 2.7% increase from net sales of $455.2 million the previous year, according to an annual report filed with the Securities and Exchange Commission.

Net loss for the fiscal year, which ended Dec. 31, 2010, was $18.9 million, compared with $20.5 million in 2009.

December 16, 2010
Owens Corning appoints new executives

Owens Corning has named two new executives to lead its building materials and composites divisions, according to a filing with the Securities and Exchange Commission (SEC).

Chuck Dana has been appointed group president, building materials, and Arnaud Genis has been appointed group president, composites, succeeding Dana. These changes are effective immediately.

Karel Czanderna, currently the group president of the building materials group, has resigned and will leave the company following a transition period.

September 5, 2010
In San Antonio, rallying against recession

Handy Hardware Wholesale, the Houston-based hardware co-op, reported a record attendance of 656 stores—up 4%...