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Posted 08 September, 2022

Simpson Manufacturing Co., Inc. appointed Mike Olosky as new CEO

NYSE:SSD appointed new Chief Executive Officer Mike Olosky in a 8-K filed on 08 September, 2022.


  Mike Olosky, currently the Company's President and Chief Operating Officer, will succeed Ms. Colonias as President and Chief Executive Officer effective January 1, 2023.  

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Overview of Simpson Manufacturing Co., Inc.
Real Estate/Construction • Building Materials/Products
Simpson Manufacturing Co., Inc. engages in the manufacture and marketing of building and construction solutions. It offers wood construction products, which include connectors, truss plates, fastening systems, and lateral systems primarily used to strengthen, support, and connect wood applications in residential and commercial construction, as well as do-it-yourself (DIY) projects, concrete construction products such as anchor, repair, and protection, and strengthening products for concrete, brick, and masonry applications in industrial, infrastructure, residential commercial, and DIY projects. It operates through the following geographical segments: North America, Europe, Asia/Pacific, and Admin and All Other. The North America segment covers the United States and Canada operations. The Europe segment includes operations primarily in France, the United Kingdom, Germany, Denmark, Switzerland, Portugal, Poland, the Netherlands, Belgium, Sweden, and Norway. The Asia/Pacific segment represents Australia, New Zealand, South Africa, China, Taiwan, and Vietnam. The company was founded by Barclay Simpson in 1956 and is headquartered in Pleasanton, CA.
Market Cap
$6.80B
View Company Details
Simpson Manufacturing Co., Inc. by TradingView
Relevant filing section
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.


On September 8, 2022, Simpson Manufacturing Co, Inc. (the "Company") issued a press release announcing that Karen Colonias notified the Company that she will retire from the Company on June 30, 2023 and step down from her position as Chief Executive Officer, effective December 31, 2022. Mike Olosky, currently the Company's President and Chief Operating Officer, will succeed Ms. Colonias as President and Chief Executive Officer effective January 1, 2023. Ms. Colonias will remain employed as an Executive Advisor of the Company to assist with the transition until June 30, 2023 and will continue to serve as a member of the Company's board of directors (the "Board") until the Company's 2023 annual meeting of stockholders (the "2023 Annual Meeting"). In connection with his promotion Mr. Olosky will be appointed to the Board effective January 1, 2023, and is expected to stand for election by stockholders at the 2023 Annual Meeting.


Mr. Olosky, age 54, has served as President and Chief Operating Officer of the Company since January 2022. From November 2020 to January 2022, he served as Chief Operating Officer of the Company. Before joining the Company, Mr. Olosky served in numerous leadership positions, over 22 years, at Henkel, a global chemical and consumer goods company. In his last role at Henkel, from July 2019 to November 2020 he served as President, Henkel North America and Senior Vice President - Head of the Electronics and Industrials Division. He previously served as the Head of Electronics from May 2017 to July 2019 and Head of Innovation from April 2013 to May 2017. Mr. Olosky has a BS in Mechanical Engineering from Michigan Technological University, an MBA from Michigan State University, and an MS in Mechanical Engineering from Oakland University. 


There are no arrangements or understandings between Mr. Olosky and any other persons pursuant to which Mr. Olosky was selected as President and Chief Executive Officer of the Company. There are no family relationships between Mr. Olosky and any director or executive officer of the Company, and Mr. Olosky has no director or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K nor are any such transactions currently proposed.


In connection with her transition to her role as an Executive Advisor, Ms. Colonias will continue to receive a base salary at an annual rate of $824,000, will continue to participate in the Company's health and welfare arrangements, and will continue to vest in her outstanding equity awards. In connection with her retirement on June 30, 2023, Ms. Colonias will receive retirement treatment under the existing terms and conditions of her then outstanding equity awards. Ms. Colonias will not serve as an executive officer or Section 16 officer of the Company after December 31, 2022.


A copy of the press release is attached as Exhibit 99.1 and incorporated by reference into this Current Report on Form 8-K.