Louisiana-Pacific CFO Sallie Bailey leaves at short notice

  • Push-out Score suggests push-out forces
  • After almost seven years in the position
  • Praise, thanks and good wishes for Bailey
  • Search for a successor
  • Bailey said 66 words

(exechange) — Nashville, Tennessee, June 1, 2018 — Sallie Bailey, finance chief of Louisiana-Pacific, leaves. It is a change at short notice. As announced by Louisiana-Pacific Corporation in a news release on Friday, June 1, 2018, Sallie Bailey leaves her post as Chief Financial Officer at the building materials manufacturer after almost seven years in the role, effective July 13, 2018.

Bailey’s move comes 11 months after Brad Southern took over as CEO of Louisiana-Pacific Corporation.

Louisiana-Pacific will undertake a search for a successor.

“Now is the right time for me to begin my retirement”

A reason for Bailey’s imminent departure from the CFO post was not explicitly given. Bailey said: “LP today is well-positioned to capitalize on opportunities for growth and value creation and now is the right time for me to begin my retirement.”

Precise information about Bailey’s future plans was not immediately available.

“Retire”

Louisiana-Pacific said: “Sallie Bailey has elected to retire as Chief Financial Officer of LP.”

Share price rise since January 2017

The change follows a rise in the share price of Louisiana-Pacific Corporation since January 2017.

Chaired by E.Gary Cook

Louisiana-Pacific Corporation is chaired by E.Gary Cook.

E.Gary Cook became a director of LP in 2000 and was appointed Chairman of the Board of Directors on November 1, 2004.

CEO: Brad Southern

Brad Southern serves as CEO of Louisiana-Pacific Corporation. On July 1, 2017 Brad Southern became the fifth chief executive officer in the company’s history.

In the position of CFO since 2011

Sallie B. Bailey has been the Chief Financial Officer and Executive Vice President of Louisiana-Pacific Corp. since December 5, 2011.

Sallie Bailey is responsible for financial functions with LP, including accounting, financial reporting, treasury and internal audit.

Prior to joining LP in December 2011, she served as vice president and chief financial officer of Ferro Corporation from 2007 through 2010 and senior vice president, finance and controller of Timken Company previous to that.

She is also a director of General Cable Corporation, a Fortune 500 company that designs, manufactures, markets and distributes copper, aluminum, and fiber optic wire and cable products and systems.

She is a Certified Public Accountant and holds a BA in economics and German from Wellesley College and an MBA in accounting and finance from the University of Chicago.

Unexpected

As a general rule, when a top manager announces to step aside with no successor in place, it’s a sign that the change was unexpected and too early.

Generally speaking, potential causes for an unplanned change can be, among others, disagreement or dispute.

Push-out Score suggests push-out forces

It is not completely certain what forces eventually triggered Sallie Bailey’s imminent move.

The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the change.

Read the full story in the exechange report 23.2018 ($).