- Push-out Score determined
- After about five years in the position
- Praise, thanks and good wishes for Dunston
- Scott Culbreth taking over
- Dunston said 101 words
(exechange) — Winchester, Virginia, July 14, 2020 — Cary Dunston, chief executive of American Woodmark, leaves. As announced by American Woodmark Corp. in a news release and in a regulatory filing published on Tuesday, July 14, 2020, S.Cary Dunston has left his post as chief executive officer at the supplier of cabinetry to the new construction and remodeling industries after about five years in the role, effective July 9, 2020.
Cary Dunston’s duties as CEO will be taken over by M.Scott Culbreth, most recently Chief Financial Officer of American Woodmark Corp.
“R.Perry Campbell, Senior Vice President, Sales and Commercial Operations, had exhibited behavior that violated the company’s policies and values”
American Woodmark did not give an explicit reason for Cary Dunston’s departure from the CEO post. American Woodmark said: “The moves come after an internal investigation found that R. Perry Campbell, Senior Vice President, Sales and Commercial Operations, had exhibited behavior that violated the company’s policies and values. Campbell has been separated from his position. His separation was not related to American Woodmark’s operational or financial performance.”
Precise information regarding Cary Dunston’s future plans was not immediately available.
American Woodmark said: “Culbreth, who had been American Woodmark’s Senior Vice President and Chief Financial Officer, succeeds S. Cary Dunston, who has retired and resigned from the board.”
American Woodmark further said: “S.Cary Dunston has retired as the Company’s President and Chief Executive Officer and as a member of the Company’s board of directors effective July 9, 2020.”
“Not due to any disagreement”
“Mr. Dunston’s retirement was not due to any disagreement with the Company relating to the Company’s operations, policies or practices,” American Woodmark said.
Share price decline
The announcement follows a decline in American Woodmark Corp.’s share price of 27% since July 2017.
In the position of CEO since 2015
Cary Dunston became CEO of the Company in 2015.
His bio reads as follows:
- Company Chairman since August 2017
- Company Chief Executive Officer and President since August 2015
- Company President and Chief Operating Officer from August 2014 to August 2015
- Company Executive Vice President and Chief Operating Officer from August 2013 to August 2014
- Company Executive Vice President, Operations from September 2012 to August 2013
- Company Senior Vice President, Manufacturing and Supply Chain Services from October 2006 to September 2012
- Director, Pella Corporation (a privately-held manufacturer of windows and doors) since February 2018
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 American Woodmark and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 29.2020 ($).