UFPI CEO Matthew J. Missad Named to Prestigious List: Fortune 2015 Businessperson of the Year
November 12 2015 - 5:22PM
Business Wire
Universal Forest Products, Inc. (Nasdaq: UFPI) is pleased to
announce that its CEO Matthew J. Missad has been included in
Fortune magazine’s Businessperson of the Year list, an annual
ranking of just 50 corporate leaders published today.
“Concrete results. They’re what drive Fortune’s annual ranking
of corporate chieftains,” states the article. “Of course,
intangibles and inspiration matter. But what counts most for
companies is the ability to generate cold, hard cash. What follows
is an assemblage of superstars who navigated the inevitable turmoil
this year and led their companies to stellar and, yes, concrete
results.”
He is in the company of leaders such as Nike’s Mark Parker (who
took the number-one spot), Apple’s Tim Cook, Larry Page of Alphabet
(Google’s holding company) and Priceline’s Darren Huston. At number
45 on the list, Missad’s long history with the company and his
success as CEO are noted in the Fortune article (which can be found
here:
http://fortune.com/businessperson-of-the-year/matthew-missad-45/).
“You wouldn’t want a wood-products company to be, er,
lumbering—but deep roots help,” it states. “The latter might
explain why CEO Missad, who started working at the company as part
of a maintenance crew in high school, is leading the company to
unprecedented heights. The company just reported the best
third-quarter results in its history and its profits over the past
12 months, according to S&P CapitalIQ, are three times what
they were just three years ago.”
Missad called it “a surprise and an honor,” adding, “I am just a
small part of an organization that has many diverse elements,
including a great management team, a strong board, and the best
employees in the business. While I’m tremendously humbled by the
recognition, the credit for our success goes to each of them. I am
grateful to everyone at the companies of Universal for their hard
work and ingenuity, which drive our success.”
“Matt has been instrumental to our success for 30 years,” said
Chairman William G. Currie. “This recognition is well-earned and is
a great testimony to his strong leadership and to the success of
the corporation. Universal is a great American company with a great
story and Matt exemplifies what we’re all about – hard work,
integrity, ingenuity and a fierce determination to be a leader in
all that we do.”
Fortune said it weighed 10 metrics to come up with the list,
with 12-month and 36-month increases in profits and revenues at the
core of the analysis to provide a longer-term picture of each
company’s success. The magazine also factored in stock performance,
total shareholder returns and ratio of debt to capital, as well as
nonfinancial elements like business influence, leadership style and
strategic initiatives.
UNIVERSAL FOREST PRODUCTS, INC.
Universal Forest Products, Inc. is a holding company that
supplies wood, wood composite and other products to three robust
markets: retail, construction and industrial. Founded in 1955, the
Company is headquartered in Grand Rapids, Mich., with affiliates
throughout North America and in Australia. For more about Universal
Forest Products, go to www.ufpi.com.
This press release contains forward-looking statements within
the meaning of Section 21E of the Securities Exchange Act, as
amended, that are based on management’s beliefs, assumptions,
current expectations, estimates and projections about the markets
we serve, the economy and the Company itself. Words like
“anticipates,” “believes,” “confident,” “estimates,” “expects,”
“forecasts,” “likely,” “plans,” “projects,” “should,” variations of
such words, and similar expressions identify such forward-looking
statements. These statements do not guarantee future performance
and involve certain risks, uncertainties and assumptions that are
difficult to predict with regard to timing, extent, likelihood and
degree of occurrence. The Company does not undertake to update
forward-looking statements to reflect facts, circumstances, events,
or assumptions that occur after the date the forward-looking
statements are made. Actual results could differ materially from
those included in such forward-looking statements. Investors are
cautioned that all forward-looking statements involve risks and
uncertainty. Among the factors that could cause actual results to
differ materially from forward-looking statements are the
following: fluctuations in the price of lumber; adverse or unusual
weather conditions; adverse economic conditions in the markets we
serve; government regulations, particularly involving environmental
and safety regulations; and our ability to make successful business
acquisitions. Certain of these risk factors as well as other risk
factors and additional information are included in the Company's
reports on Form 10-K and 10-Q on file with the Securities and
Exchange Commission.
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version on businesswire.com: http://www.businesswire.com/news/home/20151112006689/en/
Universal Forest Products, Inc.Lynn AfendoulisDirector,
Corporate Communications(616) 365-1502
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