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Encore Wire Announces New Board Member

Stocks in this article: WIRE

Encore Wire Corporation (NASDAQ Global Select: WIRE) announced today that the Company’s Board of Directors unanimously voted to increase the number of directors serving on the Company’s Board of Directors to seven members and to appoint Mr. Gregory J. Fisher as a new member to fill the vacancy resulting from such increase. In addition, the Board appointed Mr. Fisher to the Company’s Audit Committee, Nominating and Corporate Governance Committee, Compensation Committee and Stock Option Plan Committee.

Commenting on the announcement, Daniel L. Jones, President and Chief Executive Officer of Encore Wire Corporation, said, “We are pleased to announce the appointment of Mr. Gregory 'Greg' Fisher to our Board. Greg possesses a very strong business background including building materials industry experience that will serve our stockholders’ interests well. Greg worked at ElkCorp, a Dallas, Texas based manufacturer of premium residential roofing products for over twenty years, where he served as Senior Vice President, Chief Financial Officer and Controller until 2007 at which point the Company was acquired. ElkCorp was similar to Encore Wire in several other respects. ElkCorp was publicly traded, had approximately $900 million in 2006 revenues and was known as a low cost, high quality manufacturer. ElkCorp was conservatively managed and maintained a strong balance sheet with low debt.

After the sale of ElkCorp was completed, Greg was asked to serve as Vice President and Chief Financial Officer of Taylor Companies, a Dallas based oil field transportation firm. Greg restructured the Accounting Department and obtained favorable refinancing for Taylor, enabling the sale of the Company in 2010. Greg retired at that point and lives in the Dallas area. He serves as a Trustee of the Knights of Columbus and is a member of their Investment Committee. He also serves on the Advisory Board of The Catholic Foundation of Dallas. Greg is a Certified Management Accountant (CMA).

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