Vinyl extruder Veka Inc.'s president and CEO is retiring. Walter Stucky will be replaced by Joe Peilert.
Stucky stepped down as president March 1. He will remain CEO of Veka until June 30. Peilert was president and CEO of flexible PVC products maker TMI International LLC, based in Pittsburgh.
Stucky will stay on as a consultant with Veka and participate in various special interest projects until the end of 2011, the company said. He has been Veka's president for nine years and served as its executive vice president for 14 years.
I'm there and committed to making this a smooth transition, Stucky said Feb. 18 at Fencetech in Orlando.
His biggest accomplishment was restoring Veka profitability after housing slumped massively from the second half of 2006 through 2009. It just fell into a bottomless bucket, he said. That's what I call a catastrophic collapse of an entire market.
In 2008, the focus was not on growth because there was none. 2008 was a negative year. We had to do all these shutdowns, he said.
The firm also exited a contract with Trex Co. for a decking product, and was hit by the trend of fabricators integrating their businesses into extrusion. It's not fun when you have to dismiss 35 percent of your people, he said.
2009 became a year for re-growth. We're extremely well-positioned, he said.
The firm has been profitable during the slower times and he's hoping to see housing starts increase.
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