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Ricoh executive named Armstrong’s president, CEO

By , - Last modified: February 15, 2011 at 10:50 AM

Armstrong World Industries Inc. today appointed a Ricoh executive to be its president and CEO.

Matthew J. Espe, 51, comes to Lancaster County-based Armstrong from Ricoh Americas Corp., the printer and copier supply company based in New Jersey, where he was chairman and CEO. Espe’s appointment will become official in late July, according to Armstrong.

Espe previously was chairman and CEO of Chester County-based Ikon Office Solutions Inc. when it was acquired by Ricoh in 2002, according to Armstrong. Before that, he was president and CEO of General Electric Lighting, based in Cleveland.

Espe replaces Michael D. Lockhart, who stepped down as chairman, president and CEO of Armstrong in February. James J. O’Connor, who was appointed chairman at the time, will continue in that role, according to the company.

Manor Township-based Armstrong posted a $19.4 million first-quarter loss. The company that designs, manufactures and sells cabinets, flooring and ceiling products, trades its shares on the New York Stock Exchange under the ticker symbol AWI.

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