Stock Building Supply filled in the final piece of its executive-level reorganization when it revealed Friday the hiring of Mark Fikse as division president and general manager for the LBM giant's Southeast region.
Fikse was a principal with American Capital Ltd., served as president of HD Supply's Creative Touch Interiors unit, was a vice president of strategic business development for The Home Depot, and worked with McKinsey & Co., Accenture, and Blue Ridge Partners.
Fikse will oversee Stock lumberyard operations in the Carolinas and Georgia, the heart of the Raleigh, N.C.-based company. He will report directly to Stock president Jeffrey Rea, as will the three other division vice presidents that Rea named on April 1. The other three are Phil Randolph in the mid-Atlantic region, covering Pennsylvania, Virginia, the Washington metro area, and Arkansas.; Dan Buttars in the Southwest region, which takes in Stock's operations in Texas and New Mexico; and Duff Wakefield in the West region, which encompasses Utah, Idaho, Washington state, and California.
That same reorganization also saw the elimination of the chief operating officer and vice president of national sales positions. In addition, Stock announced then that Jim Drexinger will take over all supply chain and operational improvement work, including staffers who deal with national accounts. Drexinger's new duties will include sourcing, product management, and marketing.Meanwhile, Stock's Coleman Flooring division will continue to be headed by Steve Wilson.
The latest changes are the most significant under Rea's time at Stock. The veteran of General Electric and Tyco took over Nov. 16 from Joe Appellmann, who led the longtime ProSales top 10 company through a Chapter 11 bankruptcy-law reorganization in 2009 after the Gores Group bought a 51% stake in the company from Wolseley Plc.
Last fall, Wolseley reported that the Gores investment vehicle that took control of Stock May 2009 incurred an after-tax loss of $45.5 million on revenue of $949.9 million in the fiscal year ended July 31, 2010. Wolseley also said then that it was writing off the carrying value of its investment--roughly $64.4 million--in that investment vehicle, Saturn Acquisition Holdings LLC, because the firm continued to post losses in the past fiscal year and Wolseley wasn't sure whether Saturn would post dividends or other returns on investment in the future.
Stock's sales in 2009 of $1.43 billion put it fifth on last year's ProSales 100, after which a merger between then-No. 2 ABC Supply and No. 4 Bradco Supply moved Stock back to fourth place. This year's ProSales 100 will be announced in May.