BlueLinx Announces Leadership Transition
Names Seasoned BlueLinx Executive, Shyam K. Reddy, as President and Chief Executive Officer
MARIETTA, Ga., March 21, 2023 (GLOBE NEWSWIRE) -- BlueLinx Holdings Inc. (NYSE: BXC), a leading U.S. wholesale distributor of building products, today announced that the Board of Directors has
elected Shyam K. Reddy as President and Chief Executive Officer, effective immediately. In conjunction with his new role, he will also join the BlueLinx Board of Directors.
Mr. Reddy succeeds Dwight A.K. Gibson, who is departing the Company and stepping down as a member of the BlueLinx Board.
Mr. Reddy brings a deep understanding of BlueLinx’s business and strategic opportunities to the role of CEO. He has served in a variety of positions over a nearly eight-year tenure at the Company. His responsibilities have included leadership of corporate development, strategic planning, human resource management, risk management, governance and compliance, marketing and communications, information technology, pricing and sales excellence, and procurement.
“Shyam is a gifted leader who brings an exceptional depth of institutional knowledge and experience to BlueLinx,” stated Kim Fennebresque, Chairman of the Board. “Our Board is confident that Shyam is well suited to successfully navigate a challenging macroeconomic environment, while continuing to position the business for profitable growth. As a respected leader across our organization, who has a deep level of engagement with our customers and suppliers, he is uniquely equipped to advance our strategic growth initiatives already underway and further position BlueLinx as the leading wholesale building products distributor across North America.”
He continued, “On behalf of the entire Board, I would like to thank Dwight for his leadership and contributions to BlueLinx. We are grateful for the highly skilled and diverse team he has helped assemble, who will continue to contribute enormous value to our organization.”
Mr. Gibson said, “It has been a privilege to work with the BlueLinx team to continue building BlueLinx into a stronger, more profitable business during my tenure, while supporting our customers and suppliers with industry-leading, value-added services and solutions.”
Mr. Reddy said, “I am honored to continue to serve BlueLinx in this new role, and am confident that our fortified balance sheet, combined with our strong EBITDA and cash generation, positions us well going into a more challenging cycle, while preserving our ability to effectively execute on our strategic initiatives. Our talented associates are our greatest advantage, and the strength of our team underpins my strong confidence in BlueLinx’s future, and our ability to generate meaningful and sustained value creation for our shareholders.”