Core & Main Cements Leadership Position with Strong Q4 2024 Performance
During the Q4 earnings call, Steve LeClair, Chair and Chief Executive Officer of Core & Main, highlighted the executive leadership changes announced earlier this month. LeClair will transition to the role of Executive Chair at the end of the month, with Mark Witkowski, currently CFO, taking over as CEO. Robyn Bradbury, Senior Vice President of Finance and Investor Relations, will succeed Witkowski as CFO.
"I'm pleased to share that Mark and Robyn know our business well and have been instrumental in the development and execution of our successful strategy," LeClair said during the call. "I have worked with both of them for over a decade and I have full confidence that they are the right people to lead Core & Main going forward."
Under LeClair's leadership, the company has achieved significant business milestones, including strong sales growth and solid gross margins in the fourth quarter. The executive team's dedication to delivering exceptional service for customers has also been a key factor in the company's success.
"Our results have truly been a team effort," LeClair said during the call. "I want to thank our associates for their dedication and commitment to our customers."
Core & Main's market position is equally impressive, with a deep portfolio of over 225,000 products, a presence in more than 370 branches across 49 states, and a highly fragmented $39 billion addressable market. The company's leadership team believes that there are significant opportunities for growth and gain in the market.
"Our long-term opportunity to grow and gain market share is significant as is our opportunity to grow our addressable market over time," Mark Witkowski said during the call. "We maintain balanced exposure across new construction and repair and replacement projects."
Core & Main's commitment to delivering reliable infrastructure with local service nationwide has made it a leader in the industry, yet the company estimates that it only holds 19% share of the market. With its strong leadership team in place, the company is poised for continued growth and success.
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