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Pool Corporation Announces Director Appointment

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Pool (Nasdaq: POOL) has appointed Kevin M. Murphy as a new director. This appointment increases the Board's size from eight to nine members. Murphy, CEO of Ferguson plc, will serve until the 2025 annual meeting of shareholders. He brings a wealth of experience from his tenure at Ferguson, where he has held various leadership roles since 1999. His expertise in transformation, digital technology, and e-commerce initiatives is expected to add significant value to Pool Pool is a leading wholesale distributor of swimming pool and backyard products, operating approximately 440 sales centers globally, distributing over 200,000 products to about 125,000 wholesale customers.

Positive
  • Appointment of Kevin M. Murphy, a seasoned leader with extensive experience in distribution and digital technology.
  • Board size increased from eight to nine members, potentially adding more diverse perspectives.
  • Murphy's proven track record in transformation and growth at Ferguson plc.
  • Focus on customer service and e-commerce initiatives may enhance Pool 's customer experience.
Negative
  • Uncertainty whether Murphy's strategies at Ferguson will be as effective at Pool
  • Potential costs associated with integrating new leadership and any subsequent strategic changes.

COVINGTON, La., June 05, 2024 (GLOBE NEWSWIRE) -- Pool Corporation (Nasdaq/GSM:POOL) announced today that its Board of Directors (the Board) appointed Kevin M. Murphy to serve as a director upon recommendation of the Nominating and Corporate Governance Committee. The Board appointed him to serve effective June 3, 2024, until the 2025 annual meeting of shareholders, at which time he will stand for election by Pool Corporation’s shareholders. With this appointment, the Board increased its size from eight to nine members.

Mr. Murphy is the Chief Executive Officer of Ferguson plc, a leading value-added distributor in North America providing expertise, solutions and products from infrastructure, plumbing and appliances to HVAC, fire, fabrication and more.   Mr. Murphy has served in various leadership roles since joining Ferguson in 1999, including as Chief Operating Officer of Ferguson’s U.S. business from 2007 to 2017 and CEO, U.S. from 2017 until his appointment as group CEO in 2019.  

John E. Stokely, Chairman of the Board, commented, “During Kevin’s tenure at Ferguson, his focus on transformation has provided avenues of growth and profitability for the company, while also improving the customer experience through digital technology and e-Commerce initiatives. Kevin’s extensive knowledge of the distribution sector, focus on customer service and proven ability as an innovator make him a valuable asset to POOLCORP. On behalf of the Board, we look forward to working with Kevin to continue providing exceptional value to our shareholders.”

Pool Corporation is the world’s largest wholesale distributor of swimming pool and related backyard products. POOLCORP operates approximately 440 sales centers in North America, Europe and Australia through which it distributes more than 200,000 products to roughly 125,000 wholesale customers. For more information about POOLCORP, please visit www.poolcorp.com.

Investor Relations Contacts:

Kristin S. Byars
985.801.5153
kristin.byars@poolcorp.com

Curtis J. Scheel
985.801.5341
curtis.scheel@poolcorp.com


FAQ

What is the recent Board of Directors change at Pool ?

Pool recently appointed Kevin M. Murphy as a new director, increasing the Board size to nine members.

Who is Kevin M. Murphy, the new director of Pool ?

Kevin M. Murphy is the CEO of Ferguson plc, with extensive experience in the distribution sector.

When will Kevin M. Murphy stand for election by Pool 's shareholders?

Kevin M. Murphy will stand for election at the 2025 annual meeting of shareholders.

How many products does Pool distribute?

Pool distributes more than 200,000 products.

How many sales centers does Pool operate?

Pool operates approximately 440 sales centers.

Pool Corporation

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Sporting and Recreational Goods and Supplies Merchant Wholesalers
Wholesale Trade
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United States of America
COVINGTON