BMC Stock Holdings COO Mike McGaugh Resigns

3/11/19

By Chris Roush, NC BIZ News

The chief operating officer of BMC Stock Holdings Inc. has resigned, and the building supply company has eliminated the position.

Mike McGaugh has been chief operating officer and executive vice president of the Raleigh-based company since February 2017.

He was responsible for the day-to-day administration and operation of the company.

Prior to joining the company, McGaugh spent over 20 years in various roles at the Dow Chemical Co., including global director and leader of the Integration Management Office for the Dow/E.I. du Pont de Nemours merger.

From 2012 to 2013, he served as global general manager of Dow Building Solutions.

“Mike has been a valuable member of our leadership team as we have advanced our four strategic pillars,” said CEO Dave Flitman in a statement. “On behalf of the entire board, I want to thank Mike for his dedication and contributions to BMC. We wish him the best in his future endeavors.”

As far as eliminating the COO position, Flitman said, “We believe that leveraging our existing team of experienced leaders with a flatter organizational structure will enable the company to be more agile in our decision making and accelerate our ability to execute our strategy.”

BMC Stock reported fourth-quarter earnings last month that beat Wall Street expectations, causing its stock to rise 7.3 percent.

The company had $3.7 billion in sales in 2018 and supplies contractors primarily in the South and the West.

Its stock closed Monday at $18.50, up 10 cents.

Recent Deals

Interested in advertising your deals? Contact Edwin Warfield.