Michael Mordell Appointed Executive Vice President of International Operations at UFPI
August 17 2016 - 8:25AM
Michael Mordell, a senior executive of Universal Forest Products,
Inc. (Nasdaq:UFPI), has been appointed to the position of Executive
Vice President of International Operations to lead the Company’s
new international division, UFP Global Holdings, Ltd., based
in the United Kingdom.
In his new role, Mordell will be responsible for sales,
production, distribution and other endeavors related to the
Company’s business and operations outside of the U.S., and,
ultimately, for growing sales and profitability in the
international arena. Mordell is a 23-year veteran of UFPI, and
currently leads the Company’s purchasing affiliate.
“Expanding internationally has been among our stated strategies,
as we seek to constantly attain new levels of sales and
profitability,” said UFPI CEO Matthew J. Missad. “I have great
confidence we’ll achieve that with Mike at the helm of the
international division. He is a bold and creative leader who has
had years of experience and success in our industries and at our
company.”
Mordell joined Universal in 1993 as a lumber buyer, and has held
leadership positions in purchasing as well as in operations. In
2009, he was named executive vice president of purchasing, the
position he currently holds. He will begin his new role on Oct. 1,
2016.
“I am honored by the opportunity to develop a new division that
contributes greatly to the sales and profitability growth of
Universal Forest Products, Inc.,” Mike said. “I look forward to
building the UFP Global organization and team, and to developing
and successfully implementing strategies for growth with them. This
is an exciting venture and a great time to be at Universal Forest
Products as we seek new avenues to build on our success.”
UNIVERSAL FOREST PRODUCTS, INC.
(NASDAQ:UFPI)
Universal Forest Products, Inc. is a holding company that
provides capital, management and administrative resources to
subsidiaries in three robust markets: retail, construction and
industrial. Founded in 1955, the Company is headquartered in Grand
Rapids, Mich., with affiliates throughout North America and
Australia. It posted annual net sales of $2.9 billion in 2015. 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.
Lynn Afendoulis
Director, Corporate Communications
(616) 365-1502
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