Summit Materials Appoints Kekin Ghelani as Chief Strategy and Growth Officer
May 10 2022 - 7:00AM
Business Wire
Summit Materials, Inc. (NYSE: SUM, “Summit,” or the “Company”),
a leading vertically integrated construction materials company, has
appointed Kekin Ghelani as the Company’s first-ever Chief Strategy
and Growth Officer. Kekin brings a wealth of experience in
strategy, corporate development, marketing, branding, IT, and
innovation.
CEO of Summit Materials, Anne Noonan, commented, "Kekin’s
leadership, extensive M&A experience, and over 25 years leading
growth and value creation in manufacturing industries will position
him well to advance our Elevate Summit Strategy through this new
role.” Anne continued, “Kekin will help lead the charge as we
pursue market leadership, further progress our asset light
approach, champion social responsibility and drive the development
of the innovation pillar of our Elevate Summit Strategy. He brings
an impressive track record of customer driven success that uniquely
complements Summit’s growth and margin expansion objectives.”
Previously Kekin was Vice President of Strategy, Growth and
Ventures for the Water & Protection of DuPont de Nemours, Inc.
and held senior positions at Celanese, McKesson, and Honeywell. He
holds an MBA from Emory University.
In his role as Chief Strategy and Growth Officer, Kekin Ghelani
will develop a robust growth strategy and programs to support the
Company’s business plans and overall Elevate Summit strategic
objectives, including leading Summit’s innovation, corporate
development, and IT functions. Julio DaSilva, leading the Company’s
Information Technology function as Chief Information Technology
Officer, and Trent Musso, Senior Vice President, Corporate
Development, leading Summit’s Development team will also report to
Kekin. Kekin will play a key role in achieving the Company’s
Elevate Summit goals of greater than 30% EBITDA Margin and greater
than 10% Return on Invested Capital (ROIC).
“I am honored to join Summit Materials, a values-driven
organization, at this important time for both the Company and the
construction materials industry. I look forward to working with the
talented team to create long-term value for all of Summit
Materials’ employees, customers, partners and shareholders,"
mentioned Kekin. “I am excited to get started.”
About Summit Materials
Summit Materials is a leading vertically integrated
materials-based company that supplies aggregates, cement, ready-mix
concrete and asphalt in the United States and British Columbia,
Canada. Summit is a geographically diverse, materials-based
business of scale that offers customers a single-source provider of
construction materials and related downstream products in the
public infrastructure, residential and nonresidential, and end
markets. Summit has a strong track record of successful
acquisitions since its founding and continues to pursue growth
opportunities in new and existing markets. For more information
about Summit Materials, please visit www.summit-materials.com.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains “forward-looking statements” within
the meaning of the federal securities laws, which involve risks and
uncertainties. Forward-looking statements include all statements
that do not relate solely to historical or current facts, and you
can identify forward-looking statements because they contain words
such as “believes,” “expects,” “may,” “will,” “should,” “seeks,”
“intends,” “trends,” “plans,” “estimates,” “projects” or
“anticipates” or similar expressions that concern our strategy,
plans, expectations or intentions. These forward-looking statements
are subject to risks, uncertainties and other factors that may
cause our actual results, performance or achievements to be
different from future results, performance or achievements
expressed or implied by such forward-looking statements. We derive
many of our forward-looking statements from our operating budgets
and forecasts, which are based upon many detailed assumptions.
While we believe that our assumptions are reasonable, it is very
difficult to predict the effect of known factors, and, of course,
it is impossible to anticipate all factors that could affect our
actual results.
In light of the significant uncertainties inherent in the
forward-looking statements included herein, the inclusion of such
information should not be regarded as a representation by us or any
other person that the results or conditions described in such
statements or our objectives and plans will be realized. Important
factors could affect our results and could cause results to differ
materially from those expressed in our forward-looking statements,
including but not limited to the factors discussed in the section
entitled “Risk Factors” in our Annual Report on Form 10-K for the
fiscal year ended January 1, 2022. Such factors may be updated from
time to time in our periodic filings with the Securities and
Exchange Commission (“SEC”), which are accessible on the SEC’s
website at www.sec.gov. We undertake no obligation to publicly
update or revise any forward-looking statement as a result of new
information, future events or otherwise, except as required by
law.
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version on businesswire.com: https://www.businesswire.com/news/home/20220510005124/en/
Investor Contact Andy Larkin VP, Investor Relations
Summit Materials, Inc. Andy.Larkin@summit-materials.com
Media Contact Heidi Frankosky External Communications
Summit Materials, Inc. Heidi.Frankosky@summit-materials.com
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