On Dec. 4, Herndon, Virginia-based building products distributor Beacon announced that its Executive Vice President & Chief Financial Officer, Frank Lonegro, will soon leave the company to become the chief executive of a publicly-traded company outside of the building products industry.
Beacon has commenced a formal search for its next CFO, while Lonegro will remain with the Company until February 1, 2024.
“Since joining us in early 2020, Frank has been a tremendous asset for Beacon and a wonderful business partner for me and the executive team,” said Julian Francis, Beacon’s President and CEO. “Together, we set Beacon on a new trajectory, and we are well on our way to unlocking Beacon’s full potential.”
Lonegro has served as Beacon’s CFO since joining the company in April 2020. He spent the previous 19 years at rail-based freight transportation service provider CSX, including the last four as its CFO.
Beacon holds the No. 6 spot on MDM’s 2023 Top Distributors List for Building Materials/Construction. The company also reaffirmed its outlook for the full year 2023, in connection with its third quarter earnings report, released Nov. 1.