Continental Building Products, Inc. (NYSE:CBPX) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Continental Building Products, Inc. (NYSE:CBPX) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Election of Director
On March 10, 2017, the Board of Directors (the “Board”) of Continental Building Products, Inc. (the “Company”) elected Mr. Ira Strassberg to the Board, and in connection with his election, expanded the Board to seven members. Mr. Strassberg will serve as a Class II director with a term ending at the Company’s 2019 annual meeting of stockholders. The Board affirmatively determined that Mr. Strassberg is independent under the New York Stock Exchange corporate governance rules. Mr. Strassberg will receive the standard compensation package paid to the Company’s independent directors consisting of an annual retainer of $50,000 and an annual equity grant with a target value of $75,000 for 2017. Mr. Strassberg has no family relationship with any of the Company’s executive officers or directors, and has not engaged in any related party transaction with the Company that would require disclosure to Item 404(a) of Regulation S-K. There were no understandings or other agreements or arrangements between Mr. Strassberg and any other person to which Mr. Strassberg was elected as a director.
Mr. Strassberg has served as Chief Financial Officer for Cantor Commercial Real Estate Company L.P. (CCRE), a commercial real estate finance firm, since 2014, and as Chief Financial Officer for Berkeley Point Capital LLC, a commercial real estate finance firm specializing in multifamily housing that is an indirect wholly owned subsidiary of CCRE, since 2012. From 2008 to 2012 Mr. Strassberg served as Senior Vice President and Multifamily Chief Financial Officer for Fannie Mae. From 2006 to 2008 Mr. Strassberg served as Chief Financial Officer for Walker & Dunlop, a commercial real estate financial services provider.
Retirement of Executive Officer
On March 15, 2017, David Obergefell, Senior Vice President Manufacturing, retired from the Company, and Bruce Major, formerly Vice President, Strategy and Strategic Sourcing, has been appointed Senior Vice President, Manufacturing and Strategic Sourcing of the Company.
About Continental Building Products, Inc. (NYSE:CBPX)
Continental Building Products, Inc. is a manufacturer of gypsum wallboard and complementary finishing products. The Company’s segment is wallboard. The Company’s manufacturing facilities and sales efforts are concentrated in the eastern United States and eastern Canada. Gypsum wallboard is a primary building material used in new residential and commercial construction and in repair and remodel (R&R). The Company manufactures gypsum wallboard related products for commercial and residential buildings and houses. The Company offers a range of gypsum wallboard products, including LiftLite, Mold Defense and Weather Defense. LiftLite is a lightweight wallboard for use on interior walls and ceilings. Mold Defense is designed for protection against mold and mildew. Weather Defense is a line of moisture and mold-resistant exterior sheathing. It operates automated manufacturing facilities in Silver Grove (Kentucky), Palatka (Florida) and Buchanan (New York). Continental Building Products, Inc. (NYSE:CBPX) Recent Trading Information
Continental Building Products, Inc. (NYSE:CBPX) closed its last trading session up +0.20 at 26.00 with 243,695 shares trading hands.
Continental Building Products, Inc. is a manufacturer of gypsum wallboard and complementary finishing products. The Company’s segment is wallboard. The Company’s manufacturing facilities and sales efforts are concentrated in the eastern United States and eastern Canada. Gypsum wallboard is a primary building material used in new residential and commercial construction and in repair and remodel (R&R). The Company manufactures gypsum wallboard related products for commercial and residential buildings and houses. The Company offers a range of gypsum wallboard products, including LiftLite, Mold Defense and Weather Defense. LiftLite is a lightweight wallboard for use on interior walls and ceilings. Mold Defense is designed for protection against mold and mildew. Weather Defense is a line of moisture and mold-resistant exterior sheathing. It operates automated manufacturing facilities in Silver Grove (Kentucky), Palatka (Florida) and Buchanan (New York). Continental Building Products, Inc. (NYSE:CBPX) Recent Trading Information
Continental Building Products, Inc. (NYSE:CBPX) closed its last trading session up +0.20 at 26.00 with 243,695 shares trading hands.
