Patrick Industries has announced that company President Andy L. Nemeth will succeed Todd M. Cleveland as CEO, effective Jan. 1, in accordance with the company’s executive succession plan. Nemeth will continue in his role as president and a director of the company.
Cleveland will become executive chairman and will continue to lead the board of directors while working closely with Nemeth and the senior leadership team.
“The company has continued to evolve in its depth, breadth, and complexity as it has grown in alignment with our strategic plan, and Andy has provided exceptional strategic, organizational, operational, and financial leadership during this time and throughout his 23-year tenure with Patrick,” said Cleveland. “He has a proven track record of accomplishment, leadership credibility, and vision within our organization and the industries in which we operate and has worked side by side with me in driving the execution of our strategic vision. I’m looking forward to my continued involvement with the company and partnership with Andy and the team to support our M&A strategy, investor and community relations platform, key customer and supplier relationships, and overall development of our strategic plan.”
“The incredible talent and spirit in our organization coupled with the energy and passion of our team members are both inspiring and humbling,” said Nemeth. “I’m excited and honored to lead Patrick and our ‘customer first’ culture with the goal of carrying on our legacy of leadership and performance and driving our growth trajectory and values-based organizational presence.”
“We want to thank Todd for his leadership and vision as CEO and are looking forward to his continued contributions to Patrick,” said Scott Welch, lead independent director. “We are extremely optimistic about Patrick’s future under the leadership of Andy and the rest of our senior team.”
Prior to assuming the position of president in 2016, Nemeth was executive VP of finance, secretary-treasurer and CFO from 2004 to 2015, VP of finance, CFO, and secretary-treasurer from 2003 to 2004, and secretary-treasurer and CFO from 2002 to 2003. Nemeth joined the company in 1996.
Cleveland was appointed chairman of the board in 2018 and CEO in 2009. He also served as president of the company from 2008 to 2015, COO from 2008 to 2013, and executive VP of operations and sales and COO from 2007 to 2008. Previously, Cleveland spent 17 years with Adorn Holdings.