Jennifer Scanlon will leave the building products manufacturer after the company’s merger with German company Gebr. Knauf KG is completed.
USG Corp. President and CEO Jennifer Scanlon will resign from her position once the company’s pending merger with German building materials manufacturer Gebr. Knauf KG (Knauf) closes, according to a news release from the company.
Scanlan served in leadership roles with USG for 16 years and led the execution of the company’s recent strategic moves, including the divestiture of L&W Supply. Scanlan and USG were initially opposed to the merger with Knauf.
“It’s been a great privilege to serve as president and CEO of USG, and I am very proud of the work done by the USG team to align our strategy with customer needs and accelerate innovation,” Scanlan said in a prepared statement. “Our shareholders will realize significant and certain cash value upon the closing of the merger, and our employees and customers will benefit from the creation of a global building materials leader that will leverage two highly complementary businesses to better meet the needs of our customers.”
The news release indicates several other members of the USG executive team will depart Chicago-based building material manufacturer USG following the merger. USG anticipates Executive Vice President and CFO Matthew Hilzinger, Executive Vice President and Chief Administrative Officer Brian Cook, Executive Vice President and Chief Customer and Innovation Officer Dominic Dannessa, Senior Vice President and President of Gypsum Gregory Salah, and Senior Vice President, General Counsel and Corporate Secretary Michelle Warner will also leave the company once the merger is completed.
The merger between the two building materials manufacturers is expected to be completed in early 2019 and the companies will run independently until the closure date.