- Push-out Score determined
- After almost nine years in the position
- Praise and thanks for Sandbrook
- Ronnie Pruitt taking over
- Sandbrook spoke at length and said 150 words
(exechange) — Euless, Texas, February 13, 2020 — Bill Sandbrook, chief executive of U.S. Concrete, leaves. As announced by U.S. Concrete Inc. in a news release on Thursday, February 13, 2020, William J. (Bill) Sandbrook leaves his post as chief executive officer at the supplier of concrete and aggregates after almost nine years in the role, effective April 3, 2020.
Bill Sandbrook’s duties as CEO will be taken over by Ronnie Pruitt, currently Chief Operating Officer of U.S. Concrete Inc.
“Opportune time”
Bill Sandbrook’s departure from the CEO post is explained as follows. Sandbrook said: “After 17 years in the military and 28 years in the heavy construction materials industry and in conjunction with a robust succession plan, I believe it is an opportune time for me to turn over the CEO duties to Ronnie.”
Precise information regarding Bill Sandbrook’s future plans was not immediately available.
“Retire”
U.S. Concrete said: “William J. Sandbrook has notified the Company’s Board of Directors of his decision to retire as Chief Executive Officer effective April 3, 2020.”
Share price decline
The announcement follows a decline in U.S. Concrete Inc.’s share price of 53% since January 2018.
In the position of CEO since 2011
Bill Sandbrook became CEO of the Company in 2011.
Sandbrook will continue to serve as the Company’s Chairman of the Board until the Company’s annual meeting of stockholders in May 2020.
Sandbrook will stand for reelection as a director at the annual meeting.
To ensure an orderly transition of his duties, Sandbrook will provide consulting services to the Company pursuant to a one-year consulting agreement, which may be extended by mutual agreement.
Sandbrook has served as Chairman of the Board since May 2018 and as the Company’s President and Chief Executive Officer and director since August 2011.
From September 2017 until May 2018, Sandbrook served as Vice Chairman of the Board.
From June 2008 until August 2011, Sandbrook was Chief Executive Officer of Oldcastle Inc.’s Products and Distribution Group.
From 2006 to June 2008, Sandbrook was Chief Executive Officer of Oldcastle Architectural Product’s Group responsible for Oldcastle’s U.S. and Canadian Operations, as well as CRH plc’s business in South America.
From 2003 to 2006, Sandbrook served as President of Oldcastle Materials West Division.
Sandbrook joined Tilcon New York as Vice President in 1992 and became President and Chief Executive Officer three years later.
In 1996, Tilcon was acquired by Oldcastle Materials. In recognition of his efforts at Ground Zero after the September 11th bombing of the World Trade Center, Sandbrook was named the Rockland County, New York 2002 Business Leader of the Year, the Dominican College 2002 Man of the Year and the American Red Cross 2003 Man of the Year for Southern New York.
Additionally, Sandbrook was awarded the Lifetime Achievement Award by the New Jersey Concrete and Aggregate Association in 2017.
In 2018, Sandbrook received the William B. Allen Award from the National Ready Mixed Concrete Association in recognition of his lifetime commitment and outstanding leadership to improve the financial health, performance and sustainability of the ready mixed concrete industry.
In March 2018, Sandbrook was inducted into the Pit & Quarry Magazine’s Hall of Fame.
In May 2018, he joined the Board of Comfort Systems USA, Inc. (NYSE: FIX) and currently sits on both its Audit and Compensation Committees.
Since March 2019, he has served as the Chairman of the National Ready-Mix Concrete Association.
Sandbrook is a 1979 graduate of the U.S. Military Academy at West Point.
After receiving his Bachelor of Science, he spent thirteen years in the U.S. Army.
Sandbrook’s service included a four-year tour in Germany in cavalry and engineering units, three years as an Associate Professor in the Department of Mathematics at the U.S. Military Academy at West Point and two years as the Army Program representative to Raytheon.
While teaching at West Point, Sandbrook earned his Professional Engineer’s License (PE) in Industrial Engineering.
Sandbrook earned four Master’s Degrees while in the service.
He received an MBA from Wharton, a Master of Science in Systems Engineering from the University of Pennsylvania, a Master in Public Policy from the Naval War College and a Master of Arts in International Relations from Salve Regina University.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to U.S. Concrete and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 7.2020 ($).