Builders FirstSource today announced its board of directors appointed senior vice president and CFO Chad Crow to the position of president and COO.
"Over the past fifteen years, Chad has been an integral part of our management team," said CEO Floyd Sherman. "From our rapid growth in the early 2000's, through our initial public offering in 2005, throughout the housing recession and to present day, Chad has been an invaluable member of our management team. He is well-respected across our organization and in the investment community."
Crow joined the Dallas-based company in 1999 as assistant controller and was promoted to vice president and controller one year later. In 2009, he was promoted to senior vice president and CFO.
As president and COO, Crow will presumably help lead the company as it invests in its blooming multifamily business. Sherman on Oct. 27 told investors that the company's "primary focus" was on multifamily housing.
"We think the multifamily business will continue to be very good. It looks like the multifamily construction over next several years will be more robust than single-family," said Sherman. "These operations will certainly allow us to gain better penetration into that particular market and in the areas where we acquired the plans. And so we look at that strategically as being very, very important to this company to get into more involved in a multifamily."