Ernest Jacquet, managing partner, Parthenon Capital, has resigned as chairman of Interline Brands, Jacksonville, FL, effective Dec. 31, but will continue to serve on the board as a director and member of the Nominating & Governance Committee. At that time, Michael J. Grebe, Interline''s president and CEO, will also become chairman. As part of this transition, the board created the position of lead independent director. John J. (Jack) Gavin, who has served as chairman of the company''s Nominating & Governance Committee since 2004, will take on this new role.
"Having just reported very strong results for our eighth quarter as a public company, this is an appropriate time for me to step down as chairman so that I can personally focus additional time on philanthropic pursuits that have become a significant part of my life," Jacquet said in a statement.
Interline Brands is a national distributor and direct marketer that provides maintenance, repair and operations (MRO) products to about 200,000 professional contractors, facilities maintenance professionals and specialty distributors. For more information on the company, visit www.interlinebrands.com.
Grebe Succeeds Jacquet As Chairman Of Interline
December 1, 2006