Apogee Enterprises, Inc. Promotes New Leaders For Its Two Business Segments
Apogee Enterprises, Inc. Promotes New Leaders For Its Two Business Segments
Apogee Enterprises, Inc. announced today the promotion of two executives to new
positions created to lead the growth of the company's recently redefined
business segments.
MINNEAPOLIS, June 2 /PRNewswire/ -- Apogee Enterprises, Inc.
(Nasdaq: APOG) announced today the promotion of two executives to new
positions created to lead the growth of the company's recently redefined
business segments. Effective June 22, Larry D. Stordahl will become Executive
Vice President of Glass Technologies, and Joseph T. Deckman will become
Executive Vice President of Glass Services.
The two executives will work closely with the segments' ongoing management teams. Stordahl will lead Glass Technologies, partnering with Brad Austin, Viracon's President, and Deckman will head up Glass Services, joining Bob Baumgartner, President of Auto Glass.
"Larry Stordahl and Joe Deckman are uniquely suited to lead Apogee's two business segments," said Russell Huffer, Apogee's President and Chief Executive Officer. "Larry brings a strong track record in operational excellence to the recently expanded Glass Technologies segment. The Glass Services segment will be headed by Joe, who led the successful exit of Apogee from the large-scale curtainwall business and turned Wausau into one of Apogee's most consistent and profitable performers."
Huffer emphasized, "Both segments will gain superb leadership. Larry will build on the segment's outstanding record of operating excellence and customer solutions, while Joe will evaluate the opportunities for increased asset utilization at Glass Services to make a significant leap in profitability. With these two individuals leading the charge on the front lines, we are very confident in Apogee's future."
Larry Stordahl, 56, joined Apogee in August 1998 as Sector President in the Glass Technologies segment. Originally, he was responsible for Viratec and TerraSun, and later added Tru Vue to his group. His responsibilities will now also include Viracon, the segment's largest business. The Glass Technologies segment recently completed an expansion totaling $87 million in capital expenditures. The expansion doubled the segment's overall production capacity, with on-time, on-budget start-ups. A nationally recognized expert in manufacturing and operations, Stordahl previously held senior positions at SPX Corporation, a billion-dollar provider of original equipment components to the motor vehicle industry worldwide.
Joe Deckman, 55, joined Apogee in May 1995, as President of the Wausau Architectural Products Group. In January 1997, he became President of Building Products & Services (BPS), which was Apogee's largest business segment at that time. Under Deckman, Wausau significantly upgraded its operations and became one of the company's strongest performers. Sales increased considerably and profitability rose several-fold. He performed an even bigger turnaround at BPS, reversing four previous years of red ink to produce a profit in his first year at the helm in fiscal 1997. In fiscal 1998, he led the exit of the international curtainwall unit and in fiscal 1999, he brought the segment to its highest level of profitability in several years before the sale of Harmon, Ltd. With the sale of Harmon, Ltd., which was announced soon after the close of fiscal 1999, Apogee realigned its three-segment structure into the two business segments that operate today. The Glass Services segment now includes Apogee's auto glass businesses and Harmon, Inc., a leader in building glass services.
In fiscal 1999, Apogee Enterprises had net sales of $792.6 million and operating income of $42.1 million. Glass Services generated 59% of fiscal 1999 sales, with the remaining 41% produced by Glass Technologies. Operating income was approximately equally split between the two segments.
Apogee Enterprises, Inc. is a world leader in technologies involving the design and development of value-added glass products, services and systems. Organized in two business segments, the Glass Technologies businesses are leaders primarily in architectural glass and high-end glass coatings for the electronics markets, while the Glass Services businesses are leaders in replacement auto glass and building glass services. Headquartered in Minneapolis, the company's stock is traded on the Nasdaq Stock Market under the symbol APOG.
SOURCE Apogee Enterprises, Inc.
The two executives will work closely with the segments' ongoing management teams. Stordahl will lead Glass Technologies, partnering with Brad Austin, Viracon's President, and Deckman will head up Glass Services, joining Bob Baumgartner, President of Auto Glass.
"Larry Stordahl and Joe Deckman are uniquely suited to lead Apogee's two business segments," said Russell Huffer, Apogee's President and Chief Executive Officer. "Larry brings a strong track record in operational excellence to the recently expanded Glass Technologies segment. The Glass Services segment will be headed by Joe, who led the successful exit of Apogee from the large-scale curtainwall business and turned Wausau into one of Apogee's most consistent and profitable performers."
Huffer emphasized, "Both segments will gain superb leadership. Larry will build on the segment's outstanding record of operating excellence and customer solutions, while Joe will evaluate the opportunities for increased asset utilization at Glass Services to make a significant leap in profitability. With these two individuals leading the charge on the front lines, we are very confident in Apogee's future."
Larry Stordahl, 56, joined Apogee in August 1998 as Sector President in the Glass Technologies segment. Originally, he was responsible for Viratec and TerraSun, and later added Tru Vue to his group. His responsibilities will now also include Viracon, the segment's largest business. The Glass Technologies segment recently completed an expansion totaling $87 million in capital expenditures. The expansion doubled the segment's overall production capacity, with on-time, on-budget start-ups. A nationally recognized expert in manufacturing and operations, Stordahl previously held senior positions at SPX Corporation, a billion-dollar provider of original equipment components to the motor vehicle industry worldwide.
Joe Deckman, 55, joined Apogee in May 1995, as President of the Wausau Architectural Products Group. In January 1997, he became President of Building Products & Services (BPS), which was Apogee's largest business segment at that time. Under Deckman, Wausau significantly upgraded its operations and became one of the company's strongest performers. Sales increased considerably and profitability rose several-fold. He performed an even bigger turnaround at BPS, reversing four previous years of red ink to produce a profit in his first year at the helm in fiscal 1997. In fiscal 1998, he led the exit of the international curtainwall unit and in fiscal 1999, he brought the segment to its highest level of profitability in several years before the sale of Harmon, Ltd. With the sale of Harmon, Ltd., which was announced soon after the close of fiscal 1999, Apogee realigned its three-segment structure into the two business segments that operate today. The Glass Services segment now includes Apogee's auto glass businesses and Harmon, Inc., a leader in building glass services.
In fiscal 1999, Apogee Enterprises had net sales of $792.6 million and operating income of $42.1 million. Glass Services generated 59% of fiscal 1999 sales, with the remaining 41% produced by Glass Technologies. Operating income was approximately equally split between the two segments.
Apogee Enterprises, Inc. is a world leader in technologies involving the design and development of value-added glass products, services and systems. Organized in two business segments, the Glass Technologies businesses are leaders primarily in architectural glass and high-end glass coatings for the electronics markets, while the Glass Services businesses are leaders in replacement auto glass and building glass services. Headquartered in Minneapolis, the company's stock is traded on the Nasdaq Stock Market under the symbol APOG.
SOURCE Apogee Enterprises, Inc.