Joseph Todd, who led one of the three divisions at the recently reorganized ProBuild, left the company as of last Friday, a spokesperson for the LBM giant confirmed today. Todd's move follows by just a few months the departures of former president and CEO Bill Myrick and operations president Jim Cavanaugh.
A ProBuild spokesperson said the company was in the process of deciding what to do as a result of Todd's departure. She had no further comment.
Todd's title was executive vice president for specialty distribution and pricing, which among other duties gave him control over ProBuild facilities that focus on non-lumber specialty products, such as gypsum and roofing.. He got that title in late June when ProBuild reorganized its roughly 450 facilities nationwide into three groups focusing on metropolitan, smaller local, and specialty markets while dissolving its six regional divisions and consolidating shared services into its Denver headquarters.Until then, Todd led ProBuild's Northeast region and was president of gypsum operations.
According to his biography on ProBuild's website, Todd previously was executive vice president of the Strober-Haddonfield Group, and before that held several management positions with Haddonfield Lumber Co. New Jersey-based Strober and Lanoga Corp. of Washington state made up the two most significant building blocks that were used to create ProBuild.
Todd also formed and was the principal of Total Computer Services, a computer business that specialized in products and services for the homebuilding industry.
ProBuild ranks No. 2 on this year's ProSales 100 listing, with $3.5 billion in sales in 2010, 87% of it to pros.
The executive's departure further shakes a company that has been rocked numerous times since early summer. On July 11, Myrick stepped down from the CEO post just two weeks after the reorganization and less than a year after he had become president. Then on July 23, ProBuild confirmed that Cavanaugh was to leave as of Aug. 31. (Story)
There have been numerous unofficial reports that the company is facing financial challenges. At the least, the Denver-based firm remains dynamic. Earlier this month, the company revealed it will close its two remaining Chicago-area facilities and exit the market by Dec. 31. The move comes just over a year after ProBuild shut two other facilities in the area in the wake of a seven-week-long Teamsters strike. But at the same time, it has made moves to enter the Pittsburgh market--home turf of 84 Lumber, the nation's fifth-biggest LBM dealer--and it recently leased property near Baltimore that's located at least 35 miles from any of its existing locations. (Story)