Press Release

GMS Announces Resignation of Chief Financial Officer

Company Release - 10/1/2018 6:30 AM ET

TUCKER, Ga.--(BUSINESS WIRE)-- GMS Inc. (NYSE:GMS) (the “Company”), a leading North American distributor of wallboard and suspended ceilings systems, announced today that Doug Goforth, the Company’s Chief Financial Officer (CFO), plans to depart the company to explore leadership opportunities outside of GMS. To ensure a smooth transition, Mr. Goforth plans to continue to serve as CFO of GMS until December 31, 2018 or until a successor is named and as an advisor to the company through March 31, 2019. GMS has initiated a search to identify qualified candidates to fill the permanent CFO position.

Mike Callahan, President and CEO of GMS, stated, “On behalf of everyone across the GMS family and our Board of Directors, I’d like to thank Doug for his significant contributions to our Company over the last four-plus years. During his time with GMS, Doug has been an integral part of our successful transition from a privately held company with 140 locations and $1.3 billion in revenue, to a successful public company that has grown to over 240 locations and approximately $3.0 billion in pro-forma LTM revenue as of April 30, 2018. We have maintained a healthy balance sheet throughout this time while achieving several years of record revenue and adjusted EBITDA performance. We thank Doug for committing to an orderly transition of the CFO responsibilities and wish him well in his future endeavors.”

About GMS Inc.

Founded in 1971, GMS operates a network of more than 240 distribution centers across the United States and Canada. GMS’s extensive product offering of wallboard, suspended ceilings systems, or ceilings, and complementary construction products is designed to provide a comprehensive one-stop-shop for our core customer, the interior contractor who installs these products in commercial and residential buildings.

Forward-Looking Statements and Information:

This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. You can generally identify forward-looking statements by the Company’s use of forward-looking terminology such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “seek,” or “should,” or the negative thereof or other variations thereon or comparable terminology. The Company has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While the Company believes these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond its control. Forward-looking statements involve risks and uncertainties outside of the Company’s control that may cause its business, strategy or actual results to differ materially from the forward-looking statements. These risks and uncertainties may include, among other things, factors described in the “Risk Factors” section in the Company’s Annual Report on Form 10-K for the fiscal year ended April 30, 2018, and in its other periodic reports filed with the SEC. In addition, the statements in this release are made as of October 1, 2018. The Company undertakes no obligation to update any of the forward-looking statements made herein, whether as a result of new information, future events, changes in expectation or otherwise. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to October 1, 2018.

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Source: GMS Inc.