Summit Materials Announces Leadership Appointments

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Jan 18, 2024, 07:00 ET

DENVER, Jan. 18, 2024 /PRNewswire/ -- Summit Materials, Inc. (NYSE: SUM, "Summit" or the "Company"), a leading construction materials solutions provider, today announces that Jason Kilgore, Charles DePriest, and David Loomes will serve as Executive Vice Presidents of Summit Materials' reporting segments effective January 12, 2024

"As we undertake the integration of the Argos USA assets and accelerate our strategic progress portfolio-wide, I am pleased to have a distinguished and proven team that will lead our reporting segments," said Anne Noonan, President and CEO of Summit Materials. "Under the guidance of Jason, Charles, and David, I am extremely confident our organization will be aligned and motivated to advance our business both strategically and financially. Their extensive industry expertise, coupled with a strong commitment to developing our people is the exact recipe for fostering a values-driven, high-performance organization. With the full executive leadership team now in place, we firmly believe we have a unique opportunity to deliver on each of our financial commitments and generate superior value creation for Summit shareholders, employees, and all stakeholders."

Jason Kilgore will serve as the Executive Vice President of Summit's West Segment. With an extensive career spanning over 30 years in the construction materials industry, Jason Kilgore has been a cornerstone of Summit Materials' leadership for nearly 15 years. Jason is a seasoned executive who embodies and advances Summit's vision and values. In 2000, Jason founded Kilgore Paving, transforming it from a single pickup truck and a 600-gallon tank on a trailer into a thriving full-service asphalt paving business with a focus on aggregates and construction. After Kilgore Companies was acquired by Summit in 2010, Jason served as President of the Company's West Region, encompassing key markets such as Salt Lake City, British Columbia, and more recently Phoenix. Instrumental to the company's M&A approach, Jason has led strategic bolt-on and platform acquisitions in high-growth markets. Jason's financial acumen, coupled with his commitment to excellence, has played a pivotal role in Summit Materials' continued success. He holds a finance degree from the University of Utah.

Charles DePriest will serve as the Executive Vice President of Summit's East Segment. He brings more than 25 years of extensive experience in finance, operations, and executive leadership to his role. In 2016, Charles co-founded Georgia Stone Products, a reputable construction materials producer in Georgia. Georgia Stone Products was acquired by Summit Materials in 2017 and has emerged as a cornerstone component in Summit's greenfield growth strategy. Charles's tenure with Summit has been defined by visionary leadership, driving transformative initiatives in alignment with the Summit Elevate Strategy. His previous roles at Summit include East Region CFO, Leader of Enterprise Standardization, and Central Region President. Before joining Summit, Charles spent 16 years at Vulcan Materials Company, progressing through finance and operational ranks in Vulcan's Southeast business. A veteran of the US Army, Charles holds a Bachelor of Professional Accountancy from Mississippi State University, an MBA from Mercer University, and is an active CPA and Chartered Global Management Accountant. Charles currently serves on the Georgia Department of Natural Resources board.

David Loomes will serve as Executive Vice President of Cement with responsibility for the full cement portfolio. David has been instrumental in the implementation of comprehensive performance improvement and growth initiatives at Continental Cement Company (CCC), a Summit Materials subsidiary. During his tenure at CCC, David has prioritized improving supply chain performance, elevating overall Commercial Excellence capabilities while also leading Summit's decarbonization efforts. Under David's leadership, CCC was the first US cement company to fully convert all cement production to lower carbon, Portland Limestone Cement and David is responsible for driving key growth projects including the Davenport Storage Dome, the largest of its kind in North America. CCC and Green America Recycling have enhanced their safety record, boosted employee engagement, and consistently achieved exceptional financial outcomes under David's leadership. David will also have responsibility alongside other Integration Management Office (IMO) leadership to manage the integration of the Argos USA Cement assets. David joined Summit in 2020 with previous Senior Vice President roles with Holcim, LafargeHolcim and Suffolk Construction. David has served various industry groups, including the PCA, NRMCA, and CIM, and presently holds a position on boards of The Portland Cement Association and the American Concrete Paving Association.

About Summit Materials, Inc.

Summit Materials is a market-leading producer of aggregates and cement with vertically integrated operations that supply ready-mix concrete and asphalt in select markets. Summit is a geographically diverse, materials-led business of scale that offers customers in the United States and British Columbia, Canada high quality products and services for the public infrastructure, residential and non-residential end markets. Summit has a strong track record of successful acquisitions since its founding and continues to pursue high-return growth opportunities in new and existing markets. For more information about Summit Materials, please visit www.summit-materials.com.

Cautionary Note Regarding Forward-Looking Statements

This communication includes "forward-looking statements" within the meaning of the federal securities laws, which involve risks and uncertainties. Forward-looking statements include all statements that do not relate solely to historical or current facts, and you can identify forward-looking statements because they contain words such as "believes," "expects," "may," "will," "outlook," "should," "seeks," "intends," "trends," "plans," "estimates," "projects" or "anticipates" or similar expressions that concern our strategy, plans, expectations or intentions. All statements made relating to our estimated and projected earnings, margins, costs, expenditures, cash flows, growth rates and financial results are forward-looking statements. Such forward-looking statements include but are not limited to statements about the integration of the Argos USA assets, acceleration of our strategic progress, and other statements that are not historical facts. These forward-looking statements are subject to risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. We derive many of our forward-looking statements from our operating budgets and forecasts, which are based upon many detailed assumptions. While we believe that our assumptions are reasonable, it is very difficult to predict the effect of known factors, and, of course, it is impossible to anticipate all factors that could affect our actual results. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by us or any other person that the results or conditions described in such statements or our objectives and plans will be realized. Important factors could affect our results and could cause results to differ materially from those expressed in our forward-looking statements, including but not limited to the factors discussed in the section entitled "Risk Factors" in Summit's Annual Report on Form 10-K for the fiscal year ended December 31, 2022, as filed with the SEC, and any factors discussed in the section entitled "Risk Factors" in any of our subsequently filed SEC filings. All subsequent written and oral forward-looking statements attributable to us, or persons acting on our behalf, are expressly qualified in their entirety by these cautionary statements. Any forward-looking statement that we make herein speaks only as of the date of these materials. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as required by law.

Contact Information

Andy Larkin
VP, Investor Relations
Summit Materials, Inc.
[email protected]
720-618-6013

SOURCE Summit Materials, Inc.