Gibraltar Industries Appoints James S. Metcalf to Board of Directors Amid Market Challenges

Gibraltar Industries Welcomes James S. Metcalf to Board of Directors

Gibraltar Industries, Inc. announces the appointment of James S. Metcalf as an independent member of its Board of Directors, effective October 25, 2024. This decision fills the vacancy left by Craig Hindman, who retired in May 2024, restoring the board to its full complement of eight members. Bill Bosway, Chairman and CEO of Gibraltar, expresses enthusiasm for Metcalf's extensive background in the construction materials and industrial manufacturing sectors. Metcalf's experience positions him as a valuable asset for the company, as he brings a wealth of knowledge in driving strategic initiatives and operational transformations.

Metcalf's career spans several leadership roles, starting with USG Corporation, where he advanced to become Chairman, President, and CEO. During his tenure, he successfully diversified revenue streams and restored profit margins, demonstrating his capability in navigating complex market dynamics. After USG, he served as the CEO and Chairman of Cornerstone Building Brands, where he led significant plant upgrades and business expansions following the merger of various building product companies. His experience on the boards of Ferguson Enterprises Inc., Tenneco Inc., and Molex LLC further solidifies his qualifications to contribute effectively to Gibraltar's strategic planning and governance.

In his new role, Metcalf will participate in key committees, including Capital Structure and Asset Management and Nominating, Governance, and Corporate Social Responsibility. His extensive expertise aligns with Gibraltar's mission to enhance life for people and the planet through innovative engineering and technology. As the company continues to focus on its core sectors—residential, renewable energy, agtech, and infrastructure—Metcalf's insights will be instrumental in guiding Gibraltar's strategic direction and fostering sustainable growth.

In related developments, Gibraltar Industries reports a challenging third quarter for 2024, with net sales declining by 7.6% compared to the previous year, totaling $361.2 million. The decline is primarily attributed to headwinds in the solar industry affecting its Renewables segment and a slowdown in the Residential market. However, the Agtech division demonstrates resilience, achieving over 30% growth in sales. Chairman Bosway reflects on the company's ability to manage these market challenges, emphasizing the improvements in operating margins across three of its four segments. Despite the downturn, Gibraltar remains committed to its mission and prepared to adapt to the evolving landscape in its industry.