Stock Building Supply to Target Acquisitions
March 1, 2010
Stock Building Supply Holdings added the former chairman and CEO of Building Materials Corp. to its board of directors to provide expertise on acquisitions.
March 1, 2010--Robert E. Mellor was brought into the company to provide expertise on "expanding Stock’s business opportunities and to help position the company for anticipated future growth," according to a company press statement.
“We are very excited about the potential to grow Stock and have been seeing a lot of growth and acquisition opportunities in the marketplace. Adding Rob Mellor to our Board of Directors will help us capitalize on some of those opportunities,” said Tim Meyer, chairman of the Stock board of directors and a managing director of The Gores Group, which jointly owns Stock Building Supply with Wolseley PLC. “Stock has a clear set of strategic priorities, great employees and a terrific management team in place. The addition of Rob Mellor greatly enhances our prospects for future growth and expansion.”
Under Gores ownership, Stock has embarked upon an ambitious transformation program. After spending the second half of 2009 focused on restructuring, removing over $200 million of cost, Stock has indentified 2010 as a year of aggressive expansion. “With our lean cost structure and liquidity position, we are well positioned to take advantage of acquisition opportunities and improving conditions in the housing market. Our focus this year is to strengthen and extend our market footprint,” said Joe Appelmann, Stock’s president and CEO.
Mellor also serves on the board of directors of The Ryland Group Inc., one of the nation's largest homebuilders. He is also on the board of directors and lead director of Coeur d'Alene Mines Corporation, a New York Stock Exchange Company with headquarters in Coeur d'Alene, Idaho. Mellor has also served as of counsel at Gibson, Dunn & Crutcher LLP in San Francisco. He received a B.A. in economics from Westminster College in Fulton, Missouri and a J.D. from Southern Methodist University.
Building Materials Holding Corp. emerged from bankruptcy protection on Jan. 4 and rebranded itself BMC Select. Mellor was replaced as CEO by Paul Street, who previously served as BMHC’s outside general counsel and secretary while a partner at the company’s law firm.