– USA, CO – Summit Materials, Inc. (NYSE: SUM), a leading vertically integrated construction materials company, today announced the appointment of Anne Noonan to its Board of Directors as President and CEO effective September 1, 2020..
At that time, Thomas Hill will step down from his role as President and CEO and as a member of the Board and he will serve as a Senior Advisor through the end of the year. Starting on January 1, 2021, Mr. Hill will transition into a consulting role through July 2023.
“When I founded Summit in 2009, I could not have imagined the growth and success the Company would achieve over the following 11 years, and it has been an honor to serve as CEO throughout this remarkable period,” said Mr. Hill. “Serving this Company alongside all of our talented team members has been the greatest privilege and the highlight of my professional career, and I am extremely proud of all that we have accomplished. I believe that now is the right time for the Company to transition to its next leader and I have great confidence in Anne, the strength of our team and the opportunities ahead. I look forward to working closely with Anne over the next few months, and for Summit’s continued success for many years to come.”
“On behalf of the entire Board, I would like to thank Tom for his visionary leadership, commitment and contributions to the Company since its inception,” said Board Chairman, Howard Lance. “Under his guidance and stewardship, Summit transformed from a small, private construction company into a public company with annual net revenues of $2 billion. We wish Tom all the best in his next chapter.”
Mr. Lance continued, “As Summit moves into its next phase of growth, we could not be more excited about appointing a CEO of Anne Noonan’s caliber to lead us forward. Anne brings with her to Summit proven leadership credentials and a strong track record. We are confident in Anne’s ability to take Summit to new heights and look forward to welcoming her to the team.”
About Anne Noonan
Anne Noonan brings over 30 years of senior leadership experience at publicly traded materials companies. Most recently, Ms. Noonan served as President and CEO of OMNOVA Solutions Inc. (NYSE: OMN), a $760 million global producer of emulsion polymers, specialty chemicals, and decorative and functional surfaces, from November 2016 through January 2020. During her tenure, she transformed the company into a high performing specialty solutions provider demonstrating 31% revenue and 22.5% EBITDA growth in high-value specialty markets. Ms. Noonan joined OMNOVA in September 2014 as President of its Performance Chemicals business segment. Prior to OMNOVA, Ms. Noonan spent 27 years at Chemtura Corporation, a global manufacturer of specialty chemicals. She most recently served as Senior Vice President and President of Chemtura’s Industrial Engineered Products business and previously held a dual role as Vice President of Strategic Business Development for Chemtura and President of its Great Lakes Solutions business. During her tenure with Chemtura, Ms. Noonan held leadership roles across a wide range of disciplines, from strategic marketing to product development and innovation, to mergers and acquisitions and general management. Ms. Noonan began her career as an analytical research chemist for a joint venture between Squibb-Linson, Tate & Lyle and McNeil Specialty Chemical Company.
Ms. Noonan commented, “Under Tom’s leadership, Summit has delivered outstanding operating results and is well-positioned for future success. I am honored to be appointed CEO of Summit and look forward to working alongside Tom, the Board and the leadership team to create value for our stakeholders.”
Ms. Noonan serves on the board of CF Industries, a global leader in nitrogen fertilizer manufacturing and distribution. She earned her Bachelor of Science Honors degree in chemistry and her Master of Science in organometallic chemistry from University College Dublin, Ireland.
About Summit Materials
Summit Materials is a leading vertically integrated materials-based company that supplies aggregates, cement, ready-mix concrete and asphalt in the United States and British Columbia, Canada. Summit is a geographically diverse, materials-based business of scale that offers customers a single-source provider of construction materials and related downstream products in the public infrastructure, residential and non-residential end markets. Summit has a strong track record of successful acquisitions since its founding and continues to pursue growth opportunities in new and existing markets.
For more information: http://summit-materials.com
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