James Hardie Industries plc (ASX: JHX) announced today the
appointment of Mr. Jason Miele as Senior Vice President & Chief
Financial Officer.
Mr. Miele’s appointment as CFO commences immediately, and he
will be based in Chicago, Illinois, reporting to James Hardie CEO,
Dr. Jack Truong.
Mr. Miele has over 13 years of experience with James Hardie and
has served in a number of important roles during his tenure,
including most recently, as Vice President – Investor and Media
Relations, a position he has held since in February 2017. In that
role, Mr. Miele had responsibility for overseeing James Hardie’s
investor relations strategy and communicating James Hardie’s
business strategy and its financial performance to various
stakeholders including shareholders, investment analysts, and the
financial media. Prior to that, Mr. Miele served in a variety of
roles of increasing responsibility, in finance functions such as
Treasury, Controllership and Operational Finance, including
reporting to the CFO as the Global Treasurer and later the Global
Controller. Mr. Miele has supported the James Hardie business
during his tenure, working in multiple geographies including
Dublin, Ireland, Amsterdam, Netherlands, Mission Viejo, CA and
Chicago, IL in the United States and most recently, Sydney,
Australia.
Mr. Miele has a bachelor’s degree from the University of
California at Santa Barbara, where he graduated with a degree in
Business Economics with an emphasis in Accounting. After receiving
his degree, he commenced his career, gaining early experience with
Pacific Health Care Systems, Inc. and PricewaterhouseCoopers,
LLP.
Commenting on Mr. Miele’s appointment, James Hardie’s CEO Dr.
Jack Truong said: “I am pleased to announce Jason Miele’s
appointment as Senior Vice President and CFO of James Hardie. Jason
brings a strong track record of financial and business leadership,
as well as an in-depth knowledge of the James Hardie business. His
financial skills, international experience and leadership
attributes complement our strong performance-oriented culture and
make him the right choice to lead our finance organization during
this critical time as we continue to execute on our global
strategic plan.”
With Mr. Miele’s appointment, current Interim Chief Financial
Officer Ms. Anne Lloyd will step down from her position, effective
immediately. Ms. Lloyd, who is also a member of the Board of
Directors of James Hardie, will continue to serve as a
non-executive member of the Board.
Dr. Truong commented, “I would like to thank Anne for her
service as Interim Chief Financial Officer. I appreciate her
leadership and contributions to James Hardie during this
transition. Anne’s oversight during this interim period provided us
the opportunity to conduct a comprehensive search for a new CFO,
considering both internal and external candidates, ensuring we
identified the best leader.”
This media release has been authorized by the James Hardie Board
of Directors
Forward Looking Statements
This Media Release contains forward-looking statements. James
Hardie Industries plc (the “Company”) may from time to time make
forward-looking statements in its periodic reports filed with or
furnished to the Securities and Exchange Commission, on Forms 20-F
and 6-K, in its annual reports to shareholders, in offering
circulars, invitation memoranda and prospectuses, in media releases
and other written materials and in oral statements made by the
Company’s officers, directors or employees to analysts,
institutional investors, existing and potential lenders,
representatives of the media and others. Statements that are not
historical facts are forward-looking statements and such
forward-looking statements are statements made pursuant to the Safe
Harbor Provisions of the Private Securities Litigation Reform Act
of 1995.
Examples of forward-looking statements include:
- statements about the Company’s future performance;
- projections of the Company’s results of operations or financial
condition;
- statements regarding the Company’s plans, objectives or goals,
including those relating to strategies, initiatives, competition,
acquisitions, dispositions and/or its products;
- expectations concerning the costs associated with the
suspension or closure of operations at any of the Company’s plants
and future plans with respect to any such plants;
- expectations concerning the costs associated with the
significant capital expenditure projects at any of the Company’s
plants and future plans with respect to any such projects;
- expectations regarding the extension or renewal of the
Company’s credit facilities including changes to terms, covenants
or ratios;
- expectations concerning dividend payments and share
buy-backs;
- statements concerning the Company’s corporate and tax domiciles
and structures and potential changes to them, including potential
tax charges;
- uncertainty from the expected discontinuance of LIBOR and
transition to any other interest rate benchmark;
- statements regarding tax liabilities and related audits,
reviews and proceedings;
- statements regarding the possible consequences and/or potential
outcome of legal proceedings brought against us and the potential
liabilities, if any, associated with such proceedings;
- expectations about the timing and amount of contributions to
Asbestos Injuries Compensation Fund (AICF), a special purpose fund
for the compensation of proven Australian asbestos-related personal
injury and death claims;
- expectations concerning the adequacy of the Company’s warranty
provisions and estimates for future warranty-related costs;
- statements regarding the Company’s ability to manage legal and
regulatory matters (including but not limited to product liability,
environmental, intellectual property and competition law matters)
and to resolve any such pending legal and regulatory matters within
current estimates and in anticipation of certain third-party
recoveries; and
- statements about economic conditions, such as changes in the US
economic or housing recovery or changes in the market conditions in
the Asia Pacific region, the levels of new home construction and
home renovations, unemployment levels, changes in consumer income,
changes or stability in housing values, the availability of
mortgages and other financing, mortgage and other interest rates,
housing affordability and supply, the levels of foreclosures and
home resales, currency exchange rates, and builder and consumer
confidence.
Words such as “believe,” “anticipate,” “plan,” “expect,”
“intend,” “target,” “estimate,” “project,” “predict,” “forecast,”
“guideline,” “aim,” “will,” “should,” “likely,” “continue,” “may,”
“objective,” “outlook” and similar expressions are intended to
identify forward-looking statements but are not the exclusive means
of identifying such statements. Readers are cautioned not to place
undue reliance on these forward-looking statements and all such
forward-looking statements are qualified in their entirety by
reference to the following cautionary statements.
Forward-looking statements are based on the Company’s current
expectations, estimates and assumptions and because forward-looking
statements address future results, events and conditions, they, by
their very nature, involve inherent risks and uncertainties, many
of which are unforeseeable and beyond the Company’s control. Such
known and unknown risks, uncertainties and other factors may cause
actual results, performance or other achievements to differ
materially from the anticipated results, performance or
achievements expressed, projected or implied by these
forward-looking statements. These factors, some of which are
discussed under “Risk Factors” in Section 3 of the Form 20-F filed
with the Securities and Exchange Commission on 21 May 2019 and
subsequently amended on 8 August 2019, include, but are not limited
to: all matters relating to or arising out of the prior manufacture
of products that contained asbestos by current and former Company
subsidiaries; required contributions to AICF, any shortfall in AICF
and the effect of currency exchange rate movements on the amount
recorded in the Company’s financial statements as an asbestos
liability; the continuation or termination of the governmental loan
facility to AICF; compliance with and changes in tax laws and
treatments; competition and product pricing in the markets in which
the Company operates; the consequences of product failures or
defects; exposure to environmental, asbestos, putative consumer
class action or other legal proceedings; general economic and
market conditions; the supply and cost of raw materials; possible
increases in competition and the potential that competitors could
copy the Company’s products; reliance on a small number of
customers; a customer’s inability to pay; compliance with and
changes in environmental and health and safety laws; risks of
conducting business internationally; compliance with and changes in
laws and regulations; currency exchange risks; dependence on
customer preference and the concentration of the Company’s customer
base on large format retail customers, distributors and dealers;
dependence on residential and commercial construction markets; the
effect of adverse changes in climate or weather patterns; possible
inability to renew credit facilities on terms favorable to the
Company, or at all; acquisition or sale of businesses and business
segments; changes in the Company’s key management personnel;
inherent limitations on internal controls; use of accounting
estimates; the integration of Fermacell into our business; and all
other risks identified in the Company’s reports filed with
Australian, Irish and US securities regulatory agencies and
exchanges (as appropriate). The Company cautions you that the
foregoing list of factors is not exhaustive and that other risks
and uncertainties may cause actual results to differ materially
from those referenced in the Company’s forward-looking statements.
Forward-looking statements speak only as of the date they are made
and are statements of the Company’s current expectations concerning
future results, events and conditions. The Company assumes no
obligation to update any forward-looking statements or information
except as required by law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200225006085/en/
Investor / Analyst Enquires: Anna Collins
Telephone: +61 2 8845 3356 Email:
media@jameshardie.com.au
Media Enquires: Jim Kelly, Domestique Telephone:
+61 412 549 083 Email: jim@domestiqueconsulting.com.au
James Hardie Industries (ASX:JHX)
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