JELD-WEN Appoints New President; Wendt Remains CEOAugust 19th, 2011 by DWM Magazine
JELD-WEN announced today that it has appointed Philip Orsino as president. Orsino was the president and chief executive officer (CEO) of Masonite International until 2005. Rod Wendt, who has been JELD-WEN’s CEO and president since 1992, will remain as CEO.
As president of JELD-WEN, Orsino will be responsible for the day-to-day operations of JELD-WEN’s business. He will work with the executive management team to continue to improve JELD-WEN’s overall operational and financial performance, according to a company statement.
“I have known Philip for more than 25 years and it is an honor to welcome him to our executive team,” says Wendt.
JELD-WEN had announced earlier that Orsino would join JELD-WEN upon the closing of its equity investment agreement with Onex Corp. The transaction is expected to close in the third quarter subject to completion of the associated debt refinancing and other customary conditions. JELD-WEN officials say they decided not to wait for the closing of the transaction, though, and instead appointed Orsino ahead of schedule so that he could immediately participate in key initiatives.
After co-founding Century Door in 1983, Orsino led the company through its 1989 merger with Premdor, followed by the 2001 acquisition of Masonite Corp. from International Paper. Under Orsino’s leadership, Masonite grew organically and through acquisition to $2.5 billion in sales generated in 18 countries.
Orsino also serves on the boards of Tomkins Building Products Inc., RSI Home Products Inc., Clairvest Inc. and the Bank of Montreal, where he chairs the audit committee. He is the former Chairman of the Board of Trustees of the University Health Network. Orsino was appointed an Officer of the Order of Canada in 2004, was the recipient of Canada’s Outstanding Chief Executive Officer of the Year award in 2003, received the University of Toronto’s Distinguished Business Alumni Award for 2002 and won the 1998 Entrepreneur of the Year Award for Manufacturing sponsored by Ernst & Young. Orsino holds a bachelor’s degree from the University of Toronto, and is a fellow of the Institute of Chartered Accountants.