BOISE, Idaho - Boise Cascade Company (NYSE:BCC), a prominent producer and distributor of wood products and building materials in North America, has announced the internal promotion of Chris Forrey to the position of Vice President, Finance and Investor Relations. Forrey, who joined the company in 2005, has steadily risen through the ranks, most recently serving as Senior Finance Director since March 2022.
In his previous role, Forrey was responsible for leading several critical financial operations, including tax, financial reporting, accounts payable, and financial systems. He has also played a significant part in Boise Cascade's investor relations and mergers and acquisitions initiatives.
Forrey's academic background includes a master's degree in accountancy/taxation and a bachelor's degree in business administration in accountancy from Boise State University. He is also a Certified Public Accountant and is actively engaged with local community organizations.
Kelly Hibbs, Senior Vice President, Chief Financial Officer and Treasurer of Boise Cascade, praised Forrey's business acumen and expressed confidence in his ability to excel in his new role. Hibbs highlighted Forrey's strong contribution to the company and noted that he would continue to oversee his prior responsibilities, supported by the well-established and high-performing teams already in place.
InvestingPro Insights
As Boise Cascade Company (NYSE:BCC) underscores its commitment to leadership development with the promotion of Chris Forrey, it's worth noting the company's current financial health and market performance, which are critical aspects of its investor relations and overall business strategy.
InvestingPro data indicates that Boise Cascade holds a market capitalization of $5.3 billion and has demonstrated prudent financial management with a Price to Earnings (P/E) ratio of 10.83 for the last twelve months as of Q4 2023. This is complemented by a robust dividend yield of 6.67% as of the latest data, showcasing the company's commitment to returning value to shareholders.
One of the key InvestingPro Tips for Boise Cascade is that the company holds more cash than debt on its balance sheet, which is a strong indicator of financial stability and risk management. Additionally, analysts have revised their earnings upwards for the upcoming period, reflecting a positive outlook on the company's financial performance. This could be particularly relevant for investors considering Boise Cascade's potential for sustained profitability and growth.
For those looking to delve deeper into Boise Cascade's financial metrics and strategic insights, InvestingPro offers a comprehensive suite of additional tips. There are currently 11 more InvestingPro Tips available, which can provide investors with a more nuanced understanding of the company's financial health and market potential. To access these tips and take advantage of the insights offered by InvestingPro, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
With Chris Forrey at the helm of finance and investor relations, Boise Cascade is poised to leverage its strong financial foundation and favorable analyst projections to continue its trajectory of growth and shareholder value creation.
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