EXHIBIT 99.1
[BLUELINX LOGO]
4300 Wildwood Parkway
Atlanta. GA 30339
1-888-502-BLUE
www.BlueLinxCo.com
BLUELINX CONTACT: INVESTOR CONTACT:
David Morris Jody Burfening / Chris Witty
BlueLinx Holdings Inc. Lippert/Heilshorn & Associates, Inc.
(866)671-5138 (212) 838-3777
cwitty@lhai.com
BLUELINX APPOINTS STEPHEN MACADAM CHIEF EXECUTIVE OFFICER
CHUCK MCELREA RETIRES; REMAINS ON BOARD OF DIRECTORS
ATLANTA, GA, October 20, 2005 - BlueLinx Holdings Inc. (NYSE: BXC), a leading
distributor of building products in North America, today announced that its
board of directors has named Stephen E. Macadam, 45, chief executive officer,
succeeding Chuck McElrea, who will retire effective immediately to devote his
time to not-for-profit, public policy interests. Mr. McElrea will continue to
serve as a board member and an advisor to the company.
Mr. Macadam brings extensive forest products and packaging industry experience
to BlueLinx. Since 2001, he has served as president and chief executive officer
of Consolidated Container Company LLC, one of the nation's leading producers of
rigid plastic packaging products, and previously held executive positions at
Georgia-Pacific Corporation, most recently as executive vice president, pulp &
paperboard. While at Georgia-Pacific, Mr. Macadam also was responsible for a
dramatic expansion of the containerboard & packaging division's operating
profits resulting from an aggressive productivity improvement program. Since
June 2004, Mr. Macadam has served as a BlueLinx director.
"Steve is the perfect choice to succeed Chuck McElrea as BlueLinx chief
executive officer," said Jeff Fenton, chairman of the board. "He commands great
respect for his leadership skills and for building an outstanding track record
of success, operational excellence and growth over the course of his career. His
familiarity with BlueLinx and the board will ensure a quick and seamless
transition at the company.
"On behalf of the BlueLinx board of directors, I would like to thank Chuck for
his inspirational leadership while guiding the company's transformation from a
division of Georgia-Pacific to an independent, publicly-held company," added Mr.
Fenton. "As the architect of the BlueLinx model for creating value in the
building products supply chain by extracting costs out of the distribution
network and delivering supply chain management solutions to customers, Chuck has
positioned BlueLinx for profitable growth and market share gains over time. He
leaves a culture of integrity and passion for continuous improvement that has
been instilled throughout the organization. We appreciate Chuck's ongoing
contribution to the company."
Mr. McElrea, said, "I am confident that Steve will lead BlueLinx to continue to
grow its market share, expand its specialty products business and enhance its
operational excellence. I am proud to have led a best-in-class
team of executives and employees who have transformed the company into a leading
provider of logistics solutions in the building products industry."
As a member of the BlueLinx board of directors, Mr. Macadam assumes the chief
executive officer role with a solid understanding of BlueLinx' value proposition
and the company's operations, business model, financial performance and
strategic growth plans. "BlueLinx is a dynamic company that stands at the
forefront of exciting opportunities to transform building products distribution
while continuing to deliver market share gains and increasing returns on net
assets." Macadam said. "The company has a great team in place, talented and
dedicated employees and a terrific future ahead. I am thrilled to join this
exceptional organization."
Chuck McElrea
Mr. McElrea has served as the company's chief executive officer and as a member
of the board of directors since May 2004 when BlueLinx Corporation, the
company's wholly-owned subsidiary, acquired the operating assets of the building
products distribution division of Georgia-Pacific Corporation. Prior to that, he
worked at Georgia-Pacific for 26 years, most recently as president of the
distribution division for four years. During his tenure at Georgia-Pacific, Mr.
McElrea held several senior management positions in logistics, business
planning, manufacturing and finance/accounting.
Stephen Macadam
Mr. Macadam currently sits on the BlueLinx board of directors, and until his
appointment as chief executive officer was chairman of the compensation
committee and a member of the audit committee. Since August 2001, he has served
as president and chief executive officer of Consolidated Container Company LLC.
Prior to that, he held executive positions at Georgia-Pacific Corporation, most
recently as executive vice president, pulp & paperboard from July 2000 until
August 2001, and senior vice president, containerboard & packaging from March
1998 until July 2000. Mr. Macadam held positions of increasing responsibility
with McKinsey and Company, Inc. from 1988 until 1998, culminating in the role of
principal in charge of McKinsey's Charlotte, North Carolina operation. At
McKinsey, Mr. Macadam served on the Leadership team of the North American
Operations practice and served clients in diverse industries, particularly pulp
& paper. From 1982 to 1986, he was an Engineering Manager at E.I. DuPont de
Nemours. Mr. Macadam received a B.S. in mechanical engineering from the
University of Kentucky, an M.S. in finance from Boston College and a masters of
business administration from Harvard Business School, where he was a Baker
Scholar.
ABOUT BLUELINX HOLDINGS INC.
Headquartered in Atlanta, Georgia, BlueLinx Holdings Inc., operating through its
wholly owned subsidiary BlueLinx Corporation, is a leading distributor of
building products in North America. Employing more than 3,400 people in North
America, BlueLinx offers 10,000 products from over 750 suppliers to service more
than 11,700 customers nationwide, including dealers, industrial manufacturers,
manufactured housing producers and home improvement retailers. The Company
operates its distribution business from sales centers in Atlanta and Denver, and
its network of more than 60 warehouses. Additional information about BlueLinx
can be found on its web site at www.BlueLinxCo.com.