Please ensure Javascript is enabled for purposes of website accessibility

Trex Taps New CFO as Prior CFO Moves to CEO Role

By Rich Smith – Apr 20, 2020 at 11:26AM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

New CFO Dennis Schemm's old company got bought out by a Trex rival.

Composite "wood" manufacturer Trex (TREX 0.02%) put up Q4 2019 financial results that were really fantastic, with sales leaping 18% and profits soaring 41% year over year. Of course, all of Trex reported those results back in February before the novel coronavirus waltzed onto the world stage with its many effects on global markets.

At Trex, the man who must deal with this changing world is new Chief Executive Officer Bryan Fairbanks, who will be promoted from his current job as Chief Financial Officer on April 29. (Current CEO James Cline will become Chairman of the company).

Trex deck

Image source: Trex.

That leaves Fairbanks' old CFO left to fill. This morning, Trex tapped an outside executive to perform that role.

Trex announced, "it has named Dennis Schemm to the position of Vice President and Chief Financial Officer [succeeding] Bryan H. Fairbanks, Executive Vice President and Chief Financial Officer, who will assume the position of President and Chief Executive Officer on April 29, 2020."  

Schemm comes to Trex with "25 years of experience as a financial and operating executive at publicly traded companies," including at companies such as Monsanto Company, Armstrong Flooring, and Danaher Corporation. His most job was a five-year stint as CFO for Continental Building Products prior to its recent acquisition by Saint-Gobain subsidiary and Trex rival CertainTeed in early 2020.  

Rich Smith has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Trex. The Motley Fool has a disclosure policy.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Trex Company, Inc. Stock Quote
Trex Company, Inc.
$45.42 (0.02%) $0.01
Danaher Corporation Stock Quote
Danaher Corporation
$265.27 (-0.43%) $-1.16
Armstrong Flooring, Inc. Stock Quote
Armstrong Flooring, Inc.

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 09/25/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.