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ST. LOUIS - Core & Main, Inc. (NYSE: CNM), a prominent distributor in the infrastructure sector, announced executive leadership transitions as part of its long-term succession plan. Effective March 31, 2025, Steve LeClair will move from CEO to the role of executive chair, while Mark Witkowski, currently CFO, will become the new CEO. Robyn Bradbury, serving as the senior vice president of finance and investor relations, will step into the CFO position.
LeClair, who has been with Core & Main for nearly two decades, will continue to lead the board of directors and act as an advisor to the business. Witkowski, who joined the company in 2007 and became CFO in 2016, has been instrumental in Core & Main’s strategic development and value creation efforts. Bradbury, a member of Core & Main since 2009, has been a vital force in finance and strategy, playing a significant role in the company’s investor relations, including its successful IPO in 2021.
James Castellano, lead independent director for Core & Main, expressed confidence in the continuity of leadership, highlighting the contributions of Witkowski and Bradbury to the company’s success. LeClair reflected on his tenure with pride, emphasizing the company’s transformation, IPO success, and the establishment of a strong culture and leadership team.
Witkowski expressed his honor in leading Core & Main and acknowledged the importance of the company’s associates and culture in achieving superior results. He praised Bradbury’s suitability for her new role as CFO and expressed gratitude for LeClair’s leadership.
Core & Main, headquartered in St. Louis, operates over 370 locations nationwide, specializing in water, wastewater, storm drainage, and fire protection products and services. The company is dedicated to providing local expertise backed by a national supply chain.
This leadership transition is part of Core & Main’s strategy for ongoing growth and success, as the company continues to serve a wide range of markets with its infrastructure solutions. The information in this article is based on a press release statement.
In other recent news, Core & Main Inc. is preparing to release its fourth-quarter earnings report for fiscal year 2024, with analysts from Loop Capital maintaining a Buy rating and a price target of $63.00. The analysts have expressed confidence in the company’s performance, although they noted a slight potential for the earnings to fall short of the consensus revenue forecast of $181 million. They also expect the company’s fiscal year 2025 guidance to be slightly below the consensus revenue projection of $990 million due to challenges in the residential construction market. Meanwhile, Citi analyst Anthony Pettinari has maintained a Neutral rating on Core & Main with a price target of $56.00, highlighting the company’s active mergers and acquisitions strategy. Core & Main has completed or announced 11 acquisitions in 2024, potentially adding around $460 million in annual sales. These acquisitions are part of an ongoing expansion in the waterworks industry, where Core & Main holds a significant market share alongside its competitor Ferguson Plc. Pettinari also noted the potential for margin improvement through Core & Main’s private label strategy, which aims to increase internal sourcing of products. This strategy could improve margins by 30-50 basis points over five years, especially in the Fire Protection product segment.
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