- THE MAGAZINE
LANCASTER, Pa. -- Armstrong World Industries Inc. (NYSE:ACK) announced that Armstrong Wood Products (AWP) and Armstrong Floor Products (AFP) will become a single operation, with one management team, fully integrating all flooring products into AFP a strategic reorganization that combines its two major flooring operations, following the resignation of Armstrong Holdings, Inc. president and CEO Frank A. Riddick III.
"We needed an integrated flooring business," says Michael D. Lockhart, Armstrong (www.armstrong.com) chairman and CEO. "The reorganization aligns Armstrong's vast product selections of wood, vinyl, linoleum, laminate and specialty carpeted floor products, into a single organization."
Chan W. Galbato, president and CEO of Armstrong Floor Products, said that combining wood floors with the resilient floor business "is a great opportunity for global integration of these critical components of hard-surface floor coverings."
According to Galbato, "The separate sales and distribution systems for wood and resilient floors will remain in place."
The wood cabinet business remains under the leadership of Chuck Engle, who will report directly to Mike Lockhart. Armstrong Cabinets is the fifth-largest cabinet company in the U.S. The cabinet business was a division of Armstrong Wood Products.
Wood is one of the fastest growing segments of the floor coverings industry. With Armstrong's major brands, Bruce, Hartco and Robbins, the company is the industry leader in the U.S. Armstrong entered the wood business in 1998 with the acquisition of Triangle Pacific, which was recently known as Armstrong Wood Products.
In announcing his resignation as president and CEO of Armstrong Holdings, Inc. and as president CEO of Armstrong Wood Products, Riddick said, "The further integration of Armstrong's businesses, which eliminates the need for my current role, will drive additional growth and is a decision I fully support."
"Frank did a lot of great work for Armstrong," said Lockhart. "He played a crucial role in the Triangle Pacific and DLW AG, (European floor products) acquisitions, which gave us the number one position in the fast-growing wood segment in the U.S., and the number two position in resilient flooring in Germany. In his role as Chief Operating Officer for Armstrong Holdings, Inc., Frank had the courage to take on the leadership role at AWP and tackle the many challenging issues facing the business."