BMC Stock Holdings, the nation’s second-biggest full-service lumberyard, announced today it has picked food distribution executive David Flitman to be its new president and CEO starting no later than Oct. 1.
BMC described the 54-year-old Flitman as “a proven executive with over three decades of experience and a strong track record of execution in leading distribution businesses across multiple industries, including Performance Food Group, Univar and Ecolab.” He comes to Atlanta-based BMC after serving as president and CEO of Performance Foodservice, which BMC said sells and delivers more than 125,000 food and food-related products to over 85,000 customer locations, generating net sales of $10.4 billion in fiscal 2018.
“Mr. Flitman has overseen Performance Foodservice’s strong growth trajectory, which has included acquiring and successfully integrating several companies since Performance Food Group went public nearly 3 years ago,” BMC noted. Executives for BMC have spoken often recently about wanting to step up their acquisitions pace.
Flitman’s appointment comes seven months after Peter Alexander stepped down as president and CEO over what appears to have been a disagreement over the company’s direction. During a July 30 call with stock analysts, BMC executives kept stressing words like “discipline,” “rigor,” and “pricing excellence” while citing a shift in commission structure, the addition of new technology, and increased focus on remodelers. The company’s net profit shot up to $27.7 million in the April-to-June period from $15.1 million year earlier, while sales jumped 12.6% to $998.5 million.
Alexander, who lived in Atlanta, also figured into BMC’s decision several years ago to move to Atlanta from its founding city of Boise, Idaho. Today, the company announced it will shift its headquarters to Raleigh, N.C., as of Sept. 30. Raleigh is the home city of Stock Building Supply, which BMC acquired, and it has been the home office for several BMC departments and executives.
As an example of its technology moves, BMC announced Aug. 27 that it plans to relocate its Issaquah, Wash., operations to a new millwork facility in Auburn, Wash., and then open the new location for business in the first quarter of 2019.
Before Performance Foodservice, Flitman was COO of Univar, a distributor of industrial and specialty chemicals, and prior to that was president of Allegheny Power and vice president, distribution at its parent company, Allegheny Energy. Earlier in his career, Flitman spent nearly 20 years at DuPont.
“Dave brings a wealth of knowledge and experience critical to BMC’s growth, operational excellence and customer service goals,” David Bullock, chairman of BMC’s board of directors, said in a statement. “His extensive manufacturing and distribution expertise, track record of execution in growing businesses and keen understanding of the importance of providing value-added products and services to customers make him the ideal person for this role. We are confident that Dave will apply his skill set and expertise to drive compelling growth and value creation at BMC.”
