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VENICE — PGT Inc., a Venice-based impact resistant window and door manufacturer on a major growth spurt, has reshuffled its top leadership ranks.
The moves, announced May 9, include appointing Jeff Jackson, previously CFO, to president and chief operating officer. Co-founder Rod Hershberger will remain chairman and CEO. Brad West, the firm's controller and a vice president, was promoted to CFO to replace Jackson, the firm says in a release. PGT, which operates out of a facility in north Venice, has around 1,500 employees and had $239.3 million in sales last year.
The changes will be effective June 1. Jackson, 48, has been with PGT for nine years, while West, 44, has been with the firm eight years. “I am proud and excited that Jeff will succeed me as PGT's President,” Hershberger says in the release. “This move supports our decision to make changes in the executive leadership team as part of our long-term organizational strategy and aligns us for the many significant growth opportunities ahead.”
Jackson helped lead the firm's IPO in 2006, and has since run operations, including supply chain and manufacturing. Jackson says he will continue to oversee the firm's long-term strategic plan in his new role. “We have a thoughtful succession strategy in place,” he says in the release, “and I am confident our highly experienced and customer-intimate executive leadership team can execute our strategic plans successfully.”
West will report directly to Hershberger, 57, in his new role. Hershberger, in a separate release, says West “has proven to be a critical member of our senior leadership team for eight years and has a dynamic management style that fits wonderfully with our culture.”
Sales at PGT, founded in 1980, fell of significantly in the recession. But the firm, traded on the Nasdaq (symbol: PGTI, recent price: $8.73) has had several solid recent earnings quarters. In the first quarter of 2014, for example, the firm had $62.70 million in sales, up 26.6% from $49.5 million in the 2013 first quarter. The 2014 first quarter was also PGT's best first quarter for sales since 2007 and the sixth consecutive quarter of at least 25% year-over-year growth.
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