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CPG International Announces Retirement of CEO Eric Jungbluth (UPDATED)
CPG International LLC (CPG) announced today that Chief Executive Officer Eric K. Jungbluth intends to retire. Mr. Jungbluth, who has led the company since 2008, will remain in his position until a permanent replacement is named and will assist in the orderly transition of the company’s leadership. Upon his retirement, Mr. Jungbluth will transition into an advisor role for the company and will maintain a significant personal investment in the company.
“I am grateful to my colleagues, the Board, our employees, customers and partners for the opportunity to lead CPG through a period of substantial growth over these past eight years,” said Mr. Jungbluth. “While I am certainly proud of the growth we have achieved, I believe my greatest accomplishment has been assembling a world-class team that is highly focused and committed to leading the next stage of CPG’s growth. The company is well positioned today as a market leading building products manufacturer, with an unrivaled portfolio of premium brands and products, track record of innovation, and distribution network. I feel that now is a good time to begin a leadership transition given the strong positioning of CPG and the momentum we have in the business. I look forward to assisting the team throughout the leadership transition process.”
Since joining the company in 2008, Mr. Jungbluth has led CPG through a period of rapid growth and development into a market leading manufacturer of highly engineered, premium building materials. Mr. Jungbluth led the successful execution of accretive acquisitions while at CPG, including the TimberTech acquisition in 2012. The combination of TimberTech and AZEK Building Products, a subsidiary of CPG, created the largest manufacturer in the trim, decking and railing market and an unrivaled portfolio of premium building products and brands. In 2013, Mr. Jungbluth led the company through a successful sale from AEA Investors to funds managed by Ares Management LLC and Ontario Teachers’ Pension Plan.
More recently, Mr. Jungbluth has been instrumental in leading CPG’s strategic growth plan, including the launch of an innovative next generation siding product and continued enhancements and new product introductions across the decking product portfolio. CPG’s innovative new product development efforts have helped drive strong recent momentum in the business, and have positioned CPG for continued growth into the future.
About AZEK® Building Products:
AZEK Building Products is a leader in the development of premium, low maintenance exterior building products. Available to a worldwide audience, its product lines span AZEK Trim, Deck, Rail, Moulding, Porch and Pavers as well as capped wood composite Decking and Railing under the TimberTech brand. Both brands, synonymous with quality, style and innovation, are made in America and lead their market areas by continually reinventing product lines and redefining product categories. For more information about AZEK, visit azek.com. For more information on TimberTech, visit timbertech.com or call 1-877-ASK AZEK.
Bill Mendel, 212-397-1030