HERNDON, Va.--Continental Building Products, Inc. (NYSE:CBPX) (the “Company”), announced that, following the sale by an affiliate of Lone Star Funds of all remaining shares of stock it held in the Company, Messrs. Brad Boggess, Kyle Volluz and Grant Wilbeck, all affiliated with Lone Star Funds, resigned from the Board of Directors on March 18, 2016. The Board of Directors of the Company currently consists of five independent members and the Company’s President and CEO.
The Company further announced that Mr. Ed Bosowski has been elected to serve as Chairman of the Board of Directors, replacing Mr. Boggess in that role, also effective on March 18, 2016. Mr. Bosowski has been a member of the Board of Directors of the Company since February 2014, and has over 30 years of experience in the gypsum wallboard industry.
“We appreciate the service of each of the departing Board Members, who helped in our transition to an independent public company”, said Jay Bachmann, the Company’s President and Chief Executive Officer. “Ed Bosowski’s industry insights and experience will continue to be a valuable resource to Continental as we develop the Company and I look forward to working with him in his new role as Chairman of the Board.”
About Continental Building Products
Continental Building Products is a manufacturer of gypsum wallboard and complementary finishing products. The Company is headquartered in Herndon, Virginia with operations serving the residential, commercial and repair and remodel construction markets in the eastern United States and eastern Canada.
This press release contains forward-looking statements. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook”, and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on historical information available at the time the statements are made and are based on management’s reasonable belief or expectations with respect to future events, and are subject to risks and uncertainties, many of which are beyond the Company’s control, that could cause actual performance or results to differ materially from the belief or expectations expressed in or suggested by the forward-looking statements. Forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to update any forward-looking statement to reflect future events, developments or otherwise, except as may be required by applicable law. Investors are referred to the Company’s reports and documents filed with the SEC including its Annual Report on Form 10-K for additional information regarding the risks and uncertainties that may cause actual results to differ materially from those expressed in any forward-looking statement.