U.S. lighting maker Acuity Brands names new president and CEO

Jan.8th,2020. American lighting manufacturer Acuity Brands announced that Neil M. Ashe will be the next president and CEO from January 31, 2020, and will become a member of the company's board of directors.

Vernon J. Nagel no longer serves as CEO and will assume the company's new role, executive chairman.

Richard K. Reece no longer serves as president and will serve as the company's executive vice president and president of Acuity Brands Lighting.

Acuity Brands began planning an orderly succession plan for some senior leadership positions a year ago.

Vernon J. Nagel said, "On behalf of the Board, we are pleased that the company can attract a skilled and experienced leader to lead the next chapter in the development of our company. Although the company wants me to be CEO for a longer period of time, But we have accelerated the timeline for succession planning. Neil ’s background and success in leading technology-oriented companies is well-suited to the Acuity brand. He brings the company a strong and successful technical and knowledge background, including his role as Walmart (Walmart, Inc. .) President and CEO of Global E-Commerce and Technology, President of CBS Interactive and CEO of CNET Networks, Inc. "

He also said, "In the past 15 years, it has been my pleasure to lead our colleagues in the company. With the advent of digital lighting, we have successfully responded to the most significant technological change facing the industry. During this period, our sales It has more than doubled, operating profit has tripled, and shareholder value has increased eightfold. "

Neil said, "I am honored to be the next CEO of Acuity Brands. Acuity Brands is a company with a good strategic, operational and financial foundation. I will work with the company's partners to move the company forward, and Building on this is a more exciting and dynamic company. "

In fiscal 2019, Acuity Brands' net sales reached US $ 3.67 billion (approximately 26.17 billion yuan), a decrease of 0.2% from last year; operating profit of US $ 462.9 million, net income of US $ 330 million, and diluted earnings per share (EPS) of US $ 8.29.