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Patrick Industries, Inc. Announces Departure of Chief Financial Officer; Appoints Interim CFO

General News
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Patrick Industries, Inc. (the “Company”) today announced that Jake Petkovich, Executive Vice President of Finance, Chief Financial Officer and Treasurer, will step down in May to accept a senior leadership position with another company. Mr. Petkovich, who has served as CFO of Patrick since November 2020, will remain in his current position until that time and provide support to ensure an orderly transition.

“The Board of Directors and I want to thank Jake for his tremendous contributions to the Patrick family,” said Andy Nemeth, Chief Executive Officer. “His dedication, leadership and financial acumen made a significant and lasting impact on the entire organization. During his time at Patrick, Jake was instrumental in further strengthening our finance and accounting infrastructure, driving efficiencies through process improvement, supporting our capital allocation strategy, and developing and leading a strong and talented team aligned with our overall strategic growth plan.”

“I am grateful for the opportunities that I’ve had at Patrick over the past several years,” said Mr. Petkovich. “It was a privilege to work with such a talented team, and to be a part of this organization’s ongoing growth and evolution in the markets it serves. As I look forward to the next chapter of my career, I believe that Patrick is well-positioned to execute on its business strategies.”

In alignment with the Company’s executive succession plan, the Board of Directors has approved the appointment of Matthew Filer as Interim Chief Financial Officer, effective upon Mr. Petkovich’s departure in May 2023. Mr. Filer, age 50, joined the Company in November 2022 as Senior Vice President of Finance. Prior to joining Patrick, Mr. Filer built a 25+ year career across multiple industries (domestic and global), including rail, mining, defense and industrial. In 2007, he joined Caterpillar Inc. and served in a series of progressive leadership roles which culminated in his appointment as Chief Financial Officer for divisions within Caterpillar’s Resource Industries segment. He holds an Executive MBA from Arizona State University and a Bachelor of Science degree in Finance and Accounting from Indiana University. The Company is initiating a formal search process, which includes the assessment of internal and external candidates, for the selection of its permanent Chief Financial Officer.    

About Patrick Industries, Inc.

Patrick Industries (NASDAQ: PATK) is a leading component solutions provider for the RV, marine, manufactured housing and various industrial markets – including single and multifamily housing, hospitality, institutional and commercial markets. Founded in 1959, Patrick is based in Elkhart, Indiana, with approximately 11,000 team members throughout the United States.

Source: Patrick Industries, Inc.