Buffalo, N.Y.-based Gibraltar Industries (NASDAQ:ROCK) needs a new COO.
On Monday, Gibraltar announced that President and Chief Operating Officer Henning Kornbrekkeg plans to retire from the company at the end of this year. Kornbrekkeg has worked for Gibraltar for more than a decade and has served as the company's president and COO since 2004. No replacement has yet been named.
Over the next few months, as Kornbrekkeg prepares for his departure, he promised to continue working "to position Gibraltar for profitable growth." The building products company is already profitable, of course, albeit with only a 0.9% profit margin.
Gibraltar shareholders appear unfazed by the news. Shares are currently up 2.4%, at $13.92.