Builders FirstSource's stock rises as it names new CEO

By Steve Gelsi

Home builder promotes chief financial officer to chief executive

Builders FirstSource Inc.'s stock (BLDR) was up 3.5% in premarket trading on Thursday after the home-building company said it promoted its financial chief to be its new chief executive.

Peter Jackson, who has worked at the company for seven years, will be the next CEO, effective Nov. 6.

"Mr. Jackson has been instrumental in the development, execution and achievement of [our] growth strategy," the company said.

Jackson has handled capital allocation and acquisitions and led the company's digital transformation.

Along with his time at BuildersFirst Source, Jackson has 17 years of building-products experience and 30 years of leadership experience, the company said

Jackson will succeed Dave Rush, who is retiring after 25 years at the company, including about two years as chief executive.

Builders FirstSource's stock has risen 16.5% in 2024, compared to a 17.8% rise by the S&P 500 SPX.

-Steve Gelsi

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09-19-24 0809ET

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