Bradco Supply revealed today that it has appointed Larry Stoddard as its new CEO. Stoddard succeeds Tom Karol, who will continue to serve as executive chairman.
"Larry is a highly respected executive in the distribution industry with a proven track record of success and the skills to lead Bradco Supply into the future," said Karol in statement issued by Bradco today.
"Larry's appointment is another milestone in a restructuring program that is designed to take full advantage of current opportunities and organize our company for future growth," Karol added.
Stoddard served in various executive positions for Wolseley over the past 26 years, most recently serving as Chief Operations Officer. He also held the position of senior vp of business development for Wolseley North America from 2005 to 2006 and was senior vp of Branch Operations of Ferguson Enterprises, a Wolseley company, from 2001 until 2005.
Based in Avenel, N.J., Bradco ranked 7th on the 2009 ProSales 100 with 2008 sales of $1.7 billion.
"Bradco is an outstanding company that has emerged from the industry downturn well-prepared to compete in today's marketplace, and I'm delighted to join Tom Karol and the dedicated and talented people who are committed to Bradco's long-term success," Stoddard said.