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Armstrong Flooring CEO resigns
Ioannis Pashakis//May 3, 2019
Donald R. Maier has stepped down from his role as president and CEO of Armstrong Flooring Inc.
Maier is being replaced by Larry McWilliams (pictured), chair of Armstrong’s board of directors, until a permanent CEO can be found. The Manor Township, Lancaster County-based flooring company announced the sudden change in leadership Friday morning.
Armstrong Flooring did not give a reason for Maier’s departure, but said in a press release that the decision was the result of mutual agreement between Maier and Armstrong’s board of directors.
But the move comes after the manufacturer reported a decline in net sales and profit for the first quarter of the year. Armstrong’s net sales fell from $164.3 million in the first three months of 2018 to $141.7 million during the same period this year. The company also suffered a net loss of $16.7 million in the first quarter of 2019 after posting a $10.4 million net loss in the first quarter of 2018.
Maier has been with the company for nine years and CEO for four. During his time as CEO, Maier helped lead the company as it separated from Armstrong World Industries Inc. in 2016. Earlier this year the company also sold its hardwood flooring business to focus on its sales of vinyl flooring.
“It has been my privilege to lead Armstrong Flooring during such a critical phase in the company’s long history,” Maier said in the release. “It has also been my privilege to work with such a dedicated group of colleagues who are committed to leading this great company into its next phase.”
McWilliams, former president and CEO of Chester County-based meat product manufacturer Keystone Foods, has committed to being Armstrong’s CEO for however long it takes to find a replacement for Maier.
“We are fortunate to have as our chair a respected industry veteran and an experienced business executive who will provide a steady hand and ensure the Armstrong Flooring team remains focused on leading the company into future, long-term success,” said James Melville, an Armstrong Flooring director.
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