Exhibit 99.1
Armstrong World Industries
Investor Day 2012
May 23, 2012
Safe Harbor Statement
This presentation consists of this slide deck and the associated remarks and comments, all of which are integrally related and are intended to be
presented and understood together. Our disclosures in this presentation, including without limitation, those relating to guidance, and in our other
public documents and comments contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act. Those
statements provide our future expectations or forecasts and can be identified by our use of words such as “anticipate,” “estimate,” “expect,”
“project,” “intend,” “plan,” “believe,” “outlook,” and other words or phrases of similar meaning in connection with any discussion of future
operating or financial performance, including, in this presentation, all statements and projections relating to the building products “mid-cycle”
outlook. Forward-looking statements, by their nature, address matters that are uncertain and involve risks because they relate to events and
depend on circumstances that may or may not occur in the future. A more detailed discussion of the risks and uncertainties that may affect our
ability to achieve the projected performance is included in the “Risk Factors” and “Management’s Discussion and Analysis” sections of our recent
reports on Forms 10-K and 10-Q filed with the SEC. As a result, our actual results may differ materially from our expected results and from those
expressed in our forward-looking statements. Forward-looking statements speak only as of the date they are made. We undertake no obligation
to update any forward-looking statements beyond what is required under applicable securities law. The information in this presentation is only
effective as of the date given, May 23, 2012, and is subject to change. Any distribution of this presentation after May 23, 2012 is not intended and
will not be construed as updating or confirming such information.
In addition, we will be referring to “non-GAAP financial measures” as defined by the SEC. A reconciliation of the differences between these
measures with the most directly comparable financial measures calculated in accordance with GAAP can be found in our SEC filings and on the
Investor Relations section of our website at www.armstrong.com. Adjusted EBITDA is earnings before interest, taxes, depreciation, amortization,
net the impact of discrete expenses and income, including, for example plant closures, restructuring actions, and other large unusual items. Net
sales includes the impact of foreign exchange rates.
Armstrong competes globally in many diverse markets. References to “market” or “share” data are simply estimations based on a combination of
internal and external sources and assumptions. They are intended only to assist discussion of the relative performance of product segments and
categories for marketing and related purposes. No conclusion has been reached or should be reached regarding a “product market,” a
“geographic market” or “market share,” as such terms may be used or defined for any economic, legal or other purpose.
Agenda
Agenda
Strategic Overview
What You Will Hear Today
Armstrong has two great global
businesses delivering exceptional
service, and innovative products and
solutions to our customers
We have exciting growth opportunities
We are committed to delivering
outstanding operational and financial
results
We are constantly focused on creating
shareholder value
Diversified Global Building Products Company
Leading global manufacturer of floors
and ceilings for use in renovation and
new construction.
$2.9 billion in sales in 2011
Market leader in geographies
representing over 80% of sales
Sales profile
70% domestic - 30% international
60% commercial - 40% residential
70% renovation - 30% new
32 manufacturing locations in 8 countries
Management Team
Matt Espe, President and CEO
Frank Ready, EVP and CEO of Armstrong Floor Products
Vic Grizzle, EVP and CEO of Armstrong Building Products
Tom Mangas, SVP and CFO
Mark Hershey, SVP General Counsel and Secretary
Don Maier, SVP Operations
Tom Kane, SVP Human Resources
Steve Poole, VP Business Development
Reduced costs by $150 million
With planned reduction of $35
million more in 2012
Increased adjusted EBITDA from $296
million in 2009 to $377 million in 2011
Despite lower volume
Fixed an inefficient balance sheet and
returned $1.3 billion to shareholders
Strategic Priorities
Build a competitive cost structure
Fix underperforming businesses
Deliver profitable growth in our core
North America businesses
Drive dramatic organic growth in
priority emerging markets
Expand profit from attractive
adjacencies
Build a winning team and global
organization
Path to Growth
Invest in growing markets
Building four plants in China &
Russia
Added 130 sales and marketing
resources in emerging markets
Invest in growing adjacencies
Architectural Specialties
Emphasize breakthrough thinking
Recovery in the US and Western
Europe
Breakthrough
A change in mindset from limitations
to possibilities
Outside the box versus incremental
improvement
Multi-year, strategic and
inspirational
Armstrong is breaking through...
witness cost reduction program...
and we’ll do more
Keys to Success
Leverage our position as a trusted
brand
Deliver innovative products and
services to drive mix improvement
Win share by being the partner of
choice for architects, retail consumers,
builders, designers and our entire
customer base
Armstrong in the Future
Larger and more profitable
More international in our operations
and our mindset
A globally integrated industry leader
in new product development,
sustainability and safety
Larger and more profitable
More international in our operations
and our mindset
A globally integrated industry leader
in new product development,
sustainability and safety
Business Update and Strategic
Priority Review
Armstrong Building Products
Business Overview
Victor Grizzle, Executive Vice President and CEO Armstrong Building Products
Building Products
Wood Ceilings & Walls
Exposed Plenum Solutions
Suspension Systems
Wet Felt Mineral Ceilings
Metal Ceilings & Walls
Soft/Fiberglass Ceilings
$1.2 billion Worldwide sales
20 Manufacturing facilities in 9 countries
3,300 Team members worldwide
132 Countries have Armstrong ceilings
50,000+ Architect/Designer relationships
1,000,000’s Installations globally
WAVE - Armstrong/Worthington JV
50% - 50% global joint venture with
Worthington Industries
Manufactures ceiling suspension
systems
Leverage Worthington’s strength buying
and bending steel, and Armstrong’s
strength selling and marketing ceilings
Invisible to the customer - they buy an
Armstrong ceiling system
$55 million of equity earnings for
Armstrong in 2011
Global Ceilings Revenue Mix
Residential
$120M
Commercial
$1,110M
Total Business
Sales by End-use Segment
Office
Retail
Education
Healthcare
Segment % of Business
Office 35% - 45%
Retail 20% - 30%
Education 15% - 25%
Healthcare 10% - 20%
Future manufacturing expansion:
Shanghai, China - Mineral fiber ceilings plant
(2013)
Alabuga, Russia - Mineral fiber ceilings plant
(2015)
Geographic and Product Mix
20
Recent manufacturing expansion:
Pune, India - WAVE plant (2010)
Montreal, Canada - Metal ceilings acquisition
(2011)
Millwood, WV - Mineral wool plant (2012)
Where We Make Money
21
$220M
$290M
2009 2011
Worldwide ABP Sales $1.10B $1.22B
EBITDA as % of sales 20% 24%
Contribution of WAVE JV to EBITDA margin 4% 5%
Business Drivers
We improve the building environment for its occupants....
Acoustics
Fire
Seismic
Hygiene
Humidity
Environment
23
Expanding product portfolio to serve an expanded
target market
Redefined
Target Market
Best in the World...
Mineral Fiber
Ceilings
Best in the World...
Ceiling
Solutions
Architectural
Specialties
$3 Billion
$6 Billion
Retail space
1st - 2nd floors
Grand Hyatt Hotel
53rd - 87th floors
Office
3rd to 52nd floors
Restaurant & Bar
88th floor
Workout facility
38th floor
Board room
various floors
Retail
2nd floor
Jin MaoTower Shanghai, China
24
Low
High
“Core” markets*
“Emerging” markets
Opportunities From Expanded Target Market
25
Our Winning Formula
Proven formula to add new growth engines
The Armstrong brand
The broadest portfolio
Win the specification game
Best in class distribution
Capture the renovation game26
Expanded target market
From $3B to $6B market
2 additional growth engines
Emerging markets
Architectural Specialties
Building blocks to win
Industry leading brand...globally
Broadest portfolio...getting broader
Architectural relationships
Global footprint...and growing
Summary
27
Armstrong Floor Products
Business Overview
Frank Ready, Executive Vice President and CEO Armstrong Floor Products
Geographic and Product Mix
2011 Sales by Geography
Total = $1.5B
75% of sales in North America
Residential is a North American business
~50% of sales are traditional vinyl products*
2011 Sales by Product
Residential
54%
Commercial
46%
29
Global Flooring Revenue Mix
Commercial
$675M
Residential
$800M
Total Business
Remodel
80%
New
20%
Remodel
75%
New
25%
New vs. Remodel
Channel / End-use Segment
Segment % of Business
Healthcare 25% - 35%
Education 25% - 35%
Retail 15% - 25%
Other 15% - 25%
Channel % of Business
Big Box ~1/3
Independent ~2/3
30
Where We Make Money
2009 EBITDA
$80M
($M)
N. America EBITDA by Business
Comm’l
Residential
2011 EBITDA
$120M
Wood Wood
2009 2011
Sales $515M $475M
EBITDA 5% 11%
Worldwide Resilient Worldwide Resilient
2009 2011
$1.04B $1.00B
5% 7%
31
Armstrong’s Current Position
Strong position in North
America, but relatively low growth
#4 player overall in Western
Europe with strength in select
products and countries
Brazil and Eastern Europe
represent opportunity
Australia position strong
Invest for growth in China and
Southeast Asia32
Market Share Position
Commercial
Residential
Market Growth and Share
2011 - 2014 Market CAGR
0%
30%
Low
High Size of Bubble = Market Size (B SFT)
W Europe
15%
Brazil
India
China
E Europe
SE
Asia
Australia
NA Resil
N America
Wood
N America
Market Trends
Sustainability / Environmental focused on recycled content
and Bio-based materialsArmstrong Position
Migrations Tile
Linoleum
33
Market Trends
Glueless installation ... primarily Residential
Armstrong Position
Fiberglass Sheet
Luxe
34
Market Trends
Luxury Vinyl Tile (LVT) growth ... Residential and Commercial
Armstrong Position
Natural Creations
Alterna
35
Market Trends
Design, design, design ...
Armstrong Position
Striations Tile
Handscraped
36
Product Leadership
Extending Design Leadership
Alterna Reserve
New Handscraped
Rejuvenations
37
Product Leadership
Creating New Offers
Raffia
Striations
Commercial
Wood High Performance
Luxe Installation System
Residential
38
Product Leadership
Driving New Capability
New China Plants
Homogeneous
Heterogeneous
Lancaster Glass Plant
39
Improving our Cost Position
40
# of Plants 24
Headcount 7,200
SG&A $300
EBITDA % to Sales 8%
19
4,700
$215
8%
2007
2011
Focus on Commercial Growth
41
Expand Market
Participation
$3.7 Billion
Market Leader in
Vinyl / Linoleum
Flooring
Market Leader in
Commercial
Flooring
Summary
Current
Strong Brand
Leader in N. America
Investing in China
42
Future
Strong Brand
Global Commercial Leader
Broad Portfolio .. Beyond Resilient
Key Drivers
Product Leadership
Cost Productivity
Expansion Beyond Core
Growth Drivers
Selected Growth Opportunities Overview
Russia
China
Architectural Specialties
44
Growth Opportunities in Europe
Edwin de Wolf, CEO, Armstrong Building Products Europe
Russia
Armstrong brought the suspended ceiling category to Russia in 1992
Most seasoned specification sales force
Strong brand recognition... 1st mover advantage
60% share of “western” tier market
Large market - 3rd largest in the world with significant future growth
Very high logistics cost (30% of landed cost)
Limited in-country production... <15% of total market size
85% of today’s market in office and retail . . . Healthcare and Education offer
opportunities for growth
46
Business Evolution
From ‘importing’ to ‘distribution’ model... Improve service to
customers with enhanced availability
2015
Local
Manufacturing
Changing market dynamics
with local production
2012
Full Local
Distribution &
Product Availability
Creating advantaged
distribution structure
2000
2008
Limited Local
Distribution
Big 2 importers own
the market
Hire Country
Manager
Sales Force
Healthcare and Education Segments
Two key market growth
opportunities
Increase New Build penetration
to western levels...>90%
Upgrade existing schools /
hospitals with no ceiling
Major healthcare investment plans
45% of hospitals in need of
major renovation
$25B National Health Program
Education opportunities
$5B National Education Program
New Build opportunity Projected growth rate Suspended Ceilings Penetration
Office 7% 70%
Commercial 5% 85%
Education 5% 20%
Healthcare 7% 30%
Upgrade opportunity Installed base (M m2) Suspended Ceilings Penetration
Education 360 20%
Healthcare 60 30%
Total 420
Both segments provide further growth opportunities
+11%
+58%
+39%
Mid / high end items
(>$4.6/m2)
Low end
items (<$4.6/m2)
Sales ($M)
Mineral Fiber Ceilings Sales Mix
Driving sales and profit through price / mix
Mix and price gains accelerate sales growth
Optimized
cost position
Demonstrates
commitment
9
Leader in the market today - local production strengthens
“Winning Formula”
Winning Formula
Win the
Specification
Broadest
Product Portfolio
Strongest
Distribution
Supports
codes and
standards
Local
Manufacturing
Al Mafraq Hospital, Abu Dhabi - 60,000m2 Linoleum and
Homogeneous
Dubai Airport - Custom metal walls, MetalWorks RH200
Custom Planks
Middle East
Large project opportunities are
available for Armstrong’s ceilings
and flooring businesses
High mix and margin area
We have added 12 sales and
marketing resources in the region
since 2009
Project 2012 sales up 110% from
2009
Summary
Russian ceilings market is large, fast
growing and Armstrong is the leading
brand
Significant opportunities in under
penetrated healthcare and education
segments
Local manufacturing to serve local needs
and eliminate high logistics costs
Current and future opportunities in the
Middle East
Growth Opportunities in Asia
Chia-ling Hsueh, Armstrong Flooring Products Managing Director Asia Pacific
Armstrong Flooring Asia
54
2009 2011 %?
Net sales Asia
(US$ million) $61 $96 57%
China volume
(f2 million) 23.9 37.3 56%
Sales and marketing positions - China 23 42 83%
Double digit growth for the past three years
China volume growth driven by:
High economic growth... especially in our segments
Price to the market in advance of local production
Investment in Go-to-Market capabilities
Opportunity Space - Asia
Asia commercial construction market:
Infrastructure spending and government
investment drives growth
Commercial flooring:
Low penetration and high economic
growth accelerate resilient growth in the
emerging markets
Resilient category (CAGR 15%) outpaces
overall construction growth
Opportunities are in emerging markets, especially China...
Asia Commercial Floor 2011
CAGR ‘11-’15
Opportunity Space - China
Despite Government attempts to
cool the over-heated residential
sector, commercial market expected
to grow ~8% in 2012
Resilient penetration is still low
today, ~7%, but growing very fast:
Armstrong critical segments of education and healthcare
growing faster than the market
Sheet Vinyl
Residential
Commercial
VCT
Resilient
Wood/Other
Carpet
Natural stones
Ceramic
Total
Flooring
Commercial
Flooring
0.9 Bn
m2
1.7 Bn m2
LVT
Lino.
Rubber
China Flooring Market Size 2011
+7%
+56%
+11%
+24%
%=Growth rate, gross construction area
What drives the conversion?
Performance / Benefits we offer
Healthcare:
Seamless, anti-bacteria
Slip resistance
Acoustics
Warmth
Environmental
Education:
Safety
Acoustics
Aesthetic design
High growth, low category penetration, but conversion is
accelerating
Before
After
Mega projects common in China
Designed by German architectural
firm
Six medical buildings, 2.8 f2 million
63 operating rooms, 2,100 beds
Armstrong shipped over 1.7 million f2
of products to this project
One of over 100 general hospitals
being built or upgraded annually
More recent mega projects...
59
Binhai Hospital (2012) - 2.4 million f2
Tongji University, Jiading Shanghai (2011) - 4.3 million f2
Fuchun No. 3 kindergarten (2012) - 208,000 f2
HZ Xiasha Hospital (2011) - 1.3 million f2
Strategic Roadmap
60
2010 2011 2012 2013 2014 2015... ...2017 2018
I - 2 plants
II - Sales Deployment: Full market access
III - Fully Develop Distributor and Wholesaler Network
Recruit / train reps
Build relationships
Leverage sales footprint
Expand distributor and wholesaler network
Growth in non-coastal cities
Design/build plant
Finalize product strategy
Start production
Production ramp up
Reach full
capacity
Homogeneous & Heterogeneous:
Not just spec focused ... reach dealer
network through wholesalers
Leadership position to be driven by local production and go-to-
market resources
Summary
Fast growing market
China volume up 56% since 2009
Resilient flooring a small part of the market
Large opportunity
Material substitution and high growth segments enhance the opportunity
Local manufacturing to serve local needs
Growth Opportunities for
Architectural Specialties
Mike Shirk, Vice President Worldwide Architectural Specialties
What is Architectural Specialties (AS)?
Critical attributes are functionality (acoustics
and accessibility), installed cost,
sustainability
Higher volume, lower “touch”
Price/value appropriate for most spaces
63
Critical attributes are design and aesthetics;
functionality is an important added benefit
Lower volume, higher “touch”, sometimes
involving custom design and engineering
Higher price per unit, used for “statement”
spaces and high-end commercial buildings
Premium Functional Solutions Targeted at Customer Need for
Design-Oriented Aesthetics
Functional Ceilings
Specialty Ceilings (AS)
Why is AS attractive?
~$2B opportunity
Incremental profitable growth that strengthens entire business
Financially attractive space
Large opportunity: $2B global market potential
Incremental: penetration play, complements base
Above-average ROIC: make/buy, lower fixed capital
Adds value to our customers
Same customers: architects and contractors
Simplifies buying: 1-stop shopping, solve challenges
Excites architects: it’s what they want to talk about
Strengthens base business
“Pull through” effect
Demands more skilled, technical sales leaders
Design and process, not just product
Range of materials
Metal (steel, aluminum, tin, others)
Wood (solid, veneer, simulated)
Fiberglass
Polymer / resin
Fabrics
Others
We have built an industry-leading capability range
1x
Mineral fiber tile
4-8x
Standard metal
15-20x
Standard wood
20-40x
Custom systems
>25x
Open plenum designs
Illustrative Indexed price points
Range of systems
Continuous ceiling solutions
Exposed plenum ceiling solutions
Acoustical and non-acoustical
options
Walls and wall transitions for unified
look
Currently building out a global footprint
Over 50 engineers and project
managers
Over 50 supply partners globally
Evaluating further organic and inorganic
investments in priority geographies
Montreal, Canada - 2011
Stafford, UK
Guangzhou, China (JV) - 2010
Rankweil, Austria
Armstrong factory
Engineering office
Montreal,
Canada
Lancaster, US
Stafford, UK
Paris,
France
Moscow,
Russia
St. Gallen, Switz.
Dubai, UAE
Shanghai, China
Mumbai, India
Establishing a global track record of customer success
North America
EMEA
Asia
Club Nokia, California, U.S.
Helen Devos Children’s Hospital,
Michigan, U.S.
Dubai International Airport, UAE
Splash Leisure Center, UK
Shanghai Huawei R&D Center, China
Lucknow Airport, India
Strategy - Going on offense to accelerate growth
$130-150M million in sales
Created global leadership team
Upgrading talent in every region
Restructured Europe & China
sales organizations
Global leverage - product, supply
Capability investments in top
markets
Further expand system portfolio
Go-to-market excellence
CAGR > 10%
Opportunistic,
uncommitted globally,
limited investment
Set as strategic priority,
establish global structure
Accelerate global capability
build-out and results
2006 - 2011
2011 - 2012
2013+
Solutions driven engine for global growth
Armstrong Building Products
AS
Americas
Europe
Asia
Global structure formed July 2011
Summary
Financially attractive space - $2B opportunity, incremental, above average
ROIC
Adds value to customers and strengthens base business
Not new - leveraging 10+ years of experience
Moving forward to build-out capability and global footprint with a more
aggressive and purposeful approach
Growth Opportunities Summary
Three tangible opportunities for significant growth that don’t involve a
recovery in the US or Europe
Emerging markets and AS can both double in four to six years
Emerging markets and AS are both natural extensions of our core businesses
Geographic expansion
Product category adjacencies
China and Russia are only part of the emerging market opportunity
India, Brazil, the Middle East and southeast Asia all have great potential
Financial Overview
Thomas Mangas, Senior Vice President and CFO
Focused on creating shareholder value
Cost reduction and disciplined
spending
Growth via recovery and aggressive
organic investments / mid-cycle outlook
ROIC goal driven
Balance sheet management
Financial History
73
$407
$377
$250
($435)
($120)
$120
$10
($25)
Bridge figures rounded to nearest $5M
$205
($35)
2006 2007 2008 2009 2010 2011
Sales $3.50B $3.54B $3.21B $2.85B $2.83B $2.82B
EBITDA $407M $439M $384M $296M $303M $377M
11.6% 12.4% 12.0% 10.4% 10.7% 13.2%
Housing starts 1,801 1,355 906 554 587 609
2010 to 2012 Cost Out Program
74
Savings driving bottom line results.
Cumulative Savings
$185M
“Mid-cycle” Outlook
Building products economic “mid-cycle”
will reoccur when:
US residential building activity
approaches historical norms
Global GDP has experienced
several years of positive growth
Armstrong’s emerging market
plants are fully operational
Performance Through the Cycle
76
Trough 2009 2012 Guidance “Mid-Cycle”
US Housing Starts (000) 554 700 ~1,200
Plants* 40 32 37
Sales $2.85 Billion $2.9 - $3.0 Billion ~$4 Billion
EBITDA Margin 10% 14% - 16% ~20%
ROIC** 4% 10% - 11% > 15%
*January 1
** As reported
Growth through recovery and organic investment
2 China Flooring
1 China Ceiling
1 Russia Ceiling
1 Mineral Wool
Performance Through the Cycle
76
Trough 2009 2012 Guidance “Mid-Cycle”
US Housing Starts (000) 554 700 ~1,200
Plants* 40 32 37
Sales $2.85 Billion $2.9 - $3.0 Billion ~$4 Billion
EBITDA Margin 10% 14% - 16% ~20%
ROIC** 4% 10% - 11% > 15%
*January 1
** As reported
Growth through recovery and organic investment
2 China Flooring
1 China Ceiling
1 Russia Ceiling
1 Mineral Wool
Future Cost Discipline
77
Ongoing LEAN manufacturing and SG&A focus enhances
profitability
*At mid-point of guidance
Path to Growth - Sales
Path to Growth - EBITDA margin
80
Incremental Margin
Ceilings 30% - 40%
Resilient 25% - 35%
Wood 25% - 30%
Cabinets 20%-30%
30%
20%
10%
0%
30%
20%
10%
0%
Balance Sheet 3/31/2012 - Pro Forma*
81
No significant maturities
until 2015
Covenant flexibility
Fully funded U.S. pension
plan
Sufficient liquidity to
manage operations and
execute capital spend
$460
Net leverage comfortably within 2-3X EBITDA
target range
*Pro-forma for $500 million special dividend paid April 10
Capital Deployment
Created and maintained an efficient balance sheet
Returned surplus cash to shareholders via special dividends
$1.3 billion in the last two years
Prioritizing investments in capital expenditures to drive global growth
82
* Mid-point of 2012 guidance
Projection
Acquisitions
83
Acquisitions have not been a driver to
historical growth, and are not
contemplated in mid-cycle guidance...
but could be an accelerator
Acquisitions must create shareholder
value
Appealing acquisitions would include:
Products that flow through our
current channels
Touch the same decision makers
we call on today
Provide new technology, capability,
or access to growing geographies
Focused on creating shareholder value
Cost reduction and disciplined
spending
Growth via recovery and aggressive
organic investments
ROIC goal driven
Balance sheet management
Wrap Up
What You Heard Today
Armstrong has two great global
businesses delivering exceptional
products and solutions to our customers
We have exciting growth opportunities
We are committed to delivering
outstanding operational and financial
results
We are constantly focused on creating
shareholder value
Q&A
Thomas J. Waters, Vice President Treasury & Investor Relations
Thomas J. Waters is Vice President, Treasury and Investor
Relations of Armstrong World Industries, Inc., in Lancaster,
Pennsylvania.
Mr. Waters joined Armstrong in 1998 as Manager, Capital Markets.
Since then he has held the positions of Director of Investor
Relations, General Manager of Finance and IT for Building Products
Europe, General Manager Financial Planning and Analysis for North
American Floor Products. He was named Treasurer in 2008, and
added investor relations responsibilities in 2010.
Prior to Armstrong, Mr. Waters worked for American Airlines in
Dallas, TX in both Treasury and Operational Finance roles.
Mr. Waters earned a BA from Binghamton University, and a MBA
from the Walter A. Haas School of Business at the University of
California, Berkeley.
Matthew J. Espe, Chief Executive Officer and President
In July 2010, Matthew J. Espe was appointed CEO of Armstrong
World Industries, Inc., in Lancaster, Pennsylvania. He brings 30
years of experience in sales, marketing, distribution and
management in global manufacturing businesses to Armstrong
from his previous position at Ricoh Americas Corporation, a
subsidiary of Ricoh Company, Ltd., where he served as Chairman
and CEO. Prior to this role, Mr. Espe was Chairman and CEO of
IKON Office Solutions, Inc., a $4 billion office equipment distributor
and services provider with 24,000 employees. The company was
acquired by Ricoh in 2008.
Before joining IKON in 2002, Mr. Espe was president and CEO of
GE Lighting. In a career that spanned 22 years there, he managed
multiple functional areas, including sales, marketing, distribution
and manufacturing as well as management within several business
units. Along with a wealth of experience, he also brings a finely-
tuned global perspective, having led businesses in Europe, Asia
and North America.
Mr. Espe is also a member of the board of Unisys Corporation. He
is an active volunteer and member of the board of United Way of
Southeastern Pennsylvania. He graduated from the University of
Idaho and has an MBA from Whittier College.
Victor Grizzle, Executive Vice President, CEO, Armstrong Building Products
Victor “Vic” Grizzle is executive vice president and CEO, Armstrong
Building Products, in Lancaster, Pennsylvania.
Mr. Grizzle has 23 years of experience in process improvement,
sales, marketing and global business leadership. He comes to
Armstrong from Valmont Industries, a $2 billion global leader of
infrastructure support structures for utility, telecom and lighting
markets, and manufacturer of mechanized irrigation equipment for
large scale farming, where he was group president of Global
Structures, Coatings and Tubing since 2005. Prior to Valmont, Mr.
Grizzle was president of the commercial power division of
EaglePicher Corporation, a $700 million diversified manufacturer
and marketer of advanced technology and industrial products for
space, defense, automotive, filtration, pharmaceutical,
environmental and commercial applications. Before that, he spent
16 years at General Electric Corporation.
Mr. Grizzle graduated from California Polytechnic University with a
Bachelor of Science in Mechanical Engineering.
90
Frank J. Ready, Executive Vice President, CEO, Armstrong Floor Products
Frank J. Ready is executive vice president and CEO of Armstrong
Floor Products Worldwide, in Lancaster, Pennsylvania.
Mr. Ready joined Armstrong in 1983 in Building Products Operations
Sales and progressed through positions in Marketing before moving
to the company’s flooring business in 1996. He served in positions of
increasing responsibility including senior vice president of Sales and
Marketing - Armstrong Floor Products, where he worked with “Big
Box” customers, builders and independent retailers. He also briefly
managed flooring manufacturing operations.
Mr. Ready is a member of the board of directors of the Tropical
Forest Foundation, a coalition of industry, conservation and scientific
leaders who work together to achieve sustainable management of
tropical timber in the major producing regions. He is also a member
of the board of directors of the National Association of Manufacturers.
A native of Cherry Hill, New Jersey, Mr. Ready earned a bachelor’s
degree in Business Administration from Franklin & Marshall College.
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Edwin de Wolf is CEO, Armstrong Building Products Europe, of
Armstrong World Industries, Inc., and he is based in Uxbridge,
England. Edwin joined Armstrong in January 2012.
Prior to Armstrong, Mr. De Wolf was employed by Pregis as
managing director, protective packaging Europe. Prior to Pregis, Mr.
De Wolf was with GE, where he started his career in 1989 as a
marketing specialist with GE Plastics Europe. He progressed
through a number of commercial positions, including European
account manager, sales management roles for Europe and Benelux,
master black belt, Pacific Supply Chain director and global Supply
Chain director (based in the USA). He then moved to GE Polymer
Shapes as business unit director, Europe. Following that role, he
was executive director, Automotive for GE Advanced Materials
before taking his final position while at GE, general manager, Europe
Middle East Africa (AMEA) GE Security.
Mr. De Wolf is a native of the Netherlands. He earned his degree in
Chemical Engineering from Technical University Eindhoven, in the
Netherlands.
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Edwin De Wolf, CEO, Armstrong Building Products Europe
Chia-ling Hsueh, Armstrong Floor Products Managing Director Asia Pacific
Chialing Hsueh is Managing Director, Armstrong Flooring Products
Asia Pacific, of Armstrong World Industries, Inc., and she is based in
Shanghai China.
Ms. Hsueh joined Armstrong in January 2011. She has a broad
business background in sales and marketing as well as consulting
and finance. She worked in the U.S. early in her career and has
been in Greater China for the last 15 years. Prior to Armstrong, Ms.
Hsueh worked for various multi-national companies including Philips
Electronics where she held a number of progressive management
positions and ultimately served as Vice President, Philips
Semiconductor- Multimedia, Greater China Region.
Ms. Hsueh is a Taiwan national who has spent the last 12 years
living and working in China. Ms. Hsueh earned a MS from
University of Massachusetts, Amherst.
Michael F. Shirk, Vice President Worldwide Architectural Specialties
Michael F. Shirk is Vice President, Worldwide Architectural
Specialties, of Armstrong World Industries, Inc., and he is based in
Lancaster, PA.
Mr. Shirk became Vice President, Worldwide Architectural
Specialties in July 2011 and has responsibility for developing and
growing the specialty ceilings business globally. Mr. Shirk joined
Armstrong in late 2009 as Vice President, Business
Development. He came to Armstrong from Bain and Company,
where he led a variety of strategy and performance improvement
programs in the industrials, technology and consumer products
industries. Prior to Bain, he worked at Lockheed Martin Corporation
in various sales, operations and engineering roles.
Mr. Shirk is a member of the Board of The High Companies, a
diversified industrial manufacturer and commercial real estate
company. He earned a BS in Mechanical Engineering from
Bucknell University, an MS in Mechanical Engineering from
University of Pennsylvania and an MBA from MIT’s Sloan School of
Management.
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Thomas B. Mangas, Senior Vice President and Chief Financial Officer
Thomas B. Mangas is senior vice president and CFO of Armstrong
World Industries, Inc., in Lancaster, Pennsylvania.
Mr. Mangas joined Armstrong in February 2010. Prior, he was vice
president and CFO of the $28 billion beauty and grooming
business of Procter & Gamble Co. after a steady progression of
finance roles at that company. He has broad domestic and
international experience including implementing tough cost
management initiatives, exploiting new growth opportunities,
acquisition integration, strategic planning, resource allocation, cost
accounting, Sarbanes-Oxley implementation and controls, tax
compliance and organization development.
He earned his bachelor’s degree in Economics and History from
the University of Virginia in 1990 where he was elected to the Phi
Beta Kappa honorary society.
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Armstrong Attendees
Speakers
Matthew Espe, President & CEO
Thomas Mangas, Senior Vice President and CFO
Victor Grizzle, Executive Vice President & CEO Armstrong Building Products
Frank Ready, Executive Vice President & CEO Armstrong Floor Products
Thomas Waters, Vice President Treasury and Investor Relations
Edwin de Wolf, CEO Armstrong Building Products
Chia-ling Hsueh, Armstrong Floor Products Managing Director Asia Pacific
Mike Shirk, Vice President Worldwide Architectural Specialties
Armstrong Building Products
Charlie Chiappone, Vice President Global Marketing & Commercial Excellence Armstrong Building Products
Dave Cookson, Senior Vice President Armstrong Building Products Americas
Joann Davis Brayman, Vice President Commercial Marketing Armstrong Building Products Americas
Dave Schulz, Vice President Finance Worldwide Armstrong Building Products
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Armstrong Attendees
Armstrong Flooring Products
Kevin Biedermann, Senior Vice President NA Residential Armstrong Floor Products
Julia Pierce, Director Marketing & Design Commercial Armstrong Floor Products
Mara Villanueva-Heras, Vice President Residential Marketing Armstrong Floor Products
Bill Rodruan, Vice President Finance Worldwide Armstrong Floor Products
Dominic Rice, Vice President & General Manager Commercial Armstrong Floor Products
Corporate
Don Maier, Senior Vice President Global Operations
Linda Toth, Vice President Corporate Communications & Public Affairs
Jennifer Johnson, Senior Manager Corporate Communications & Public Affairs
Tom Kane, Senior Vice President HR & Government Relations
Steve Poole, Vice President Business Development
Chris Parisi, Vice President Corporate Governance
Mark Hershey, Senior Vice President General Counsel & Secretary
Steve McNamara, Vice President & Controller
Kristy Rohrbaugh, Manager Investor Relations
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