Share this on

Wadhams to succeed Manoogian as Masco CEO

By Furniture Today Staff -- Furniture Today, June 10, 2007

Taylor, Mich. — The board of directors of home products giant Masco has named Timothy Wadhams, the company's senior vice president and chief financial officer, to succeed longtime CEO Richard Manoogian on July 1.

The 59-year-old Wadhams, who joined Masco in 1976 and has been CFO since 2001, will assume day-to-day responsibilities as Manoogian becomes executive chairman.

"During his more than 30 years with the Masco team, Tim has time and again proven his ability to lead during periods of growth as well as during our more challenging times," Manoogian said. "He has played an integral role in shaping our corporate strategy, and there are no plans to change our strategic direction."

In his new full-time post, the 70-year-old Manoogian will chair the board and will be involved in corporate strategy as well as a variety of external activities, including business, government and community relations.

In addition to appointing Wadhams, the board also promoted Donald DeMarie to executive vice president, and John Sznewajs to vice president and chief financial officer.

DeMarie joined Gale Inds. in 1985 and remained there after Masco acquired the company in 1995. He currently is Masco's group president for the installation and other services segment.

In his new post, DeMarie will continue to oversee Masco Contractor Services and other divisions within the installation and other services segment, and will assume additional operating responsibilities as Alan Berry, president and chief operating officer, prepares to retire in early 2008.

Sznewajs is vice president for corporate development and treasurer and will continue in those roles after becoming CFO on July 1. He joined Masco in 1996 as a business development analyst.

Masco owns ready-to-assemble furniture makers Mill's Pride and Tvilum-Scanbirk.

Share this on

Related Content

• Topics
• Author
• Most Popular Pages

Masco taps Wadhams as CEO

Jun 6, 2007

Also by this author

• Advertising and promotions, 2006

• Employees, payroll, 2006

• Sourcing, 2006

• Insights on how to use this issue

• The basics, 2006

Also by Staff Staff

Most Viewed Articles

• Merinos Home Furnishings opening display room, Boyles addition

• Ernest Warsaw, founder of Sheffield Corp., dies at 91

• ‘Mega vessels' likely to boost capacity, stabilize freight rates

• Dan Masters joins Furniture Brands as VP, business development

• HOM Furniture adds flooring to six Twin Cities stores

Sponsored Links

• Resource Center
• Browse Categories
• Browse Companies

Featured Company

• Wright Labels

  

  Bill and Tom Wright founded Wright of Thomasville in 1961 on the idea that printing was a creative medium and the belief that "a promise made is a promise kept." The Wright brothers focused their attention on providing exceptional printing for the... more

---

Related Resources

• Choosing a Web Site Developer