- Push-out Score determined
- After about five years in the position
- Praise for Cline
- Bryan Fairbanks taking over
- Cline will remain as Chairman at Trex
- Cline said 65 words
(exechange) — Winchester, Virginia, February 25, 2020 — Jim Cline, chief executive of Trex, leaves his position. As announced by Trex Co. in a news release published on Monday, February 24, 2020 and in a regulatory filing published on Tuesday, February 25, 2020, James E. (Jim) Cline leaves his post as chief executive officer at the manufacturer of wood-alternative decking after about five years in the role, effective April 29, 2020.
Jim Cline’s duties as CEO will be taken over by Bryan H. Fairbanks, currently Chief Financial Officer of Trex Co.
“Smooth leadership transition”
Jim Cline’s departure from the CEO post is explained as follows. James Cline said: “This represents a smooth leadership transition for the Company.”
Cline will remain as Chairman at Trex
“Mr. Fairbanks will assume his new roles on April 29, 2020 coinciding with James E. Cline’s planned retirement from the President and CEO positions. On that date, Mr. Cline will assume the position of Chairman of the Board and Ronald W. Kaplan will move to Vice Chairman,” Trex said.
“Retirement”
Trex said: “On February 21, 2020, the Board of Directors accepted the retirement of James E. Cline as President and Chief Executive Officer of the Company, effective April 29, 2020.”
Share price increase since August 2015
The announcement follows an increase in Trex Co.’s share price of 448% since August 2015.
Chaired by Ronald W. Kaplan
Trex Co. is chaired by Ronald W. Kaplan.
Ronald W. Kaplan retired as President and Chief Executive Officer of the Company on August 17, 2015, and remained as Chairman. He served as Chairman, President and Chief Executive Officer of the Company between May 2010 and August 2015.
In the position of CEO since 2015
Jim Cline became CEO of the Company in 2015.
James E. Cline has served as President and Chief Executive Officer of the Company since August 17, 2015.
He previously served as Senior Vice President and Chief Financial Officer between August 2013 and August 2015, and as Vice President and Chief Financial Officer between March 2008 and July 2013.
Cline served from July 2005 through December 2007 as the President of Harsco GasServ, a subsidiary of Harsco Corporation and a manufacturer of containment and control equipment for the global gas industry.
From January 2008 through February 2008, in connection with the purchase of Harsco GasServ by Taylor-Wharton International LLC, which was owned by Windpoint Partners Company, Cline served as a consultant to the buyers by providing transition management and financial services.
From April 1994 through June 2005, Cline served as the Vice President and Controller of Harsco GasServ.
Cline served in various capacities with Huffy Corporation from June 1976 to February 1994, including as the Director of Finance of its True Temper Hardware subsidiary, a manufacturer of lawn care and construction products.
Cline received a B.S.B.A. degree in accounting from Bowling Green State University.
Cline was initially appointed to the Board in August 2015 upon his promotion to President and Chief Executive Officer.
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 Trex and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 9.2020 ($).