Louisiana-Pacific CEO Curt Stevens leaves at short notice

  • Signs for push-out forces
  • After about five years on the job
  • Laud and praise for Stevens
  • Brad Southern taking over
  • Stevens spoke at length and said 81 words

(exechange) — Nashville, Tennessee, May 05, 2017 — Curt Stevens, chief executive of Louisiana-Pacific, leaves. It is a change at short notice. As announced by Louisiana-Pacific Corporation in a news release and in a regulatory filing published on Friday, May 05, 2017, Curtis M. (Curt) Stevens, Chief Executive Officer, leaves the building materials manufacturer after about five years on the job, effective June 30, 2017.

Stevens’ duties are taken over by Brad Southern, currently Chief Operating Officer at Louisiana-Pacific Corporation.

No reason given

In the announcement, Louisiana-Pacific did not explicitly explain the reason for Stevens’ imminent move.

Precise information about the future plans of Stevens was not immediately available.

“Retire”

Louisiana-Pacific said: “On May 4, 2017, Curtis M. Stevens informed the Board of Directors … of Louisiana-Pacific Corporation … that he will retire from the Company effective June 30, 2017.”

Share price rise since February 2009

The change follows a rise in the share price of Louisiana-Pacific Corporation since February 2009.

Adage Capital Partners holds 3.54 percent stake

Adage Capital Partners GP L.L.C. reported a 3.54 percent stake in Louisiana-Pacific Corporation as of December 30, 2016. Adage Capital Partners is a hedge fund.

Chaired by Gary Cook

Louisiana-Pacific Corporation is chaired by Gary Cook.

Gary Cook, age 72, became a director of LP in 2000.

On the job as CEO since 2012

Curt Stevens was appointed chief executive officer and elected to the board of directors of Louisiana-Pacific Corporation based in Nashville, Tennessee in May 2012.

Prior to that, he was the executive vice president and chief financial officer of LP for more than 10 years.

Previously, he was a founder and executive vice president / board member of Planar Systems Inc. (NASDAQ: PLNR) and a senior manager at Deloitte & Touche.

He is currently a board member of Quanex (NYSE: NX) and the chairman of the Audit Committee.

In the past, he also served as an independent member of the board of directors of two other public companies where he also chaired the Audit Committees.

Stevens is a board member of the Forest Products Association of Canada, a member of the Policy Advisory Board of the Harvard Joint Center for Housing Studies and a board member of the Nashville Chamber of Commerce.

He received a B.A. in Economics and a MBA with a concentration in Finance from the University of California, Los Angeles.

He is a Certified Public Accountant.

Signs for push-out forces

It is not completely certain what forces eventually triggered Curt Stevens’ imminent move.

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

Read the full story in the exechange report 19.2017 ($).