Gibraltar Industries’ president and chief operating officer, Henning Kornbrekke, will retire at the end of the year, after about nine years in those roles.
The Hamburg-based building products maker announced Kornbrekke’s plans on Monday. Gibraltar said it will retain Korn/Ferry International to help search for a replacement.
Kornbrekke, 68, joined Gibraltar in 2002, as president of its building products group. He was named president in January 2004, then added the title of chief operating officer in December 2004.
Brian J. Lipke, Gibraltar’s chairman and chief executive officer, in a statement called Kornbrekke “a trusted confidant to me and a friend as well during the past 12 years.”
Kornbrekke said he believes the Gibraltar team has “put the company in a solid position to continue its tradition of growth, evolution and shareholder value creation.”
Prior to joining Gibraltar, Kornbrekke was CEO of a division of Rexam PLC, a British-based packaging company. And before that, he was president and general manager of the hardware division of Stanley Works.
Kornbrekke in 2012 had total pay of $3.1 million, including salary, bonus and stock. That ranked 10th highest among executives at Western New York publicly traded companies last year, according to Buffalo News research.
Gibraltar in 2012 reported net income of $12.6 million on revenues of $790 million.