Patrick Industries, Inc. appointed Jake Petkovich as executive vice president of finance, chief financial officer (CFO) and treasurer of the company, effective immediately.
Petkovich previously served as managing director in the Wells Fargo Securities Leveraged Finance Group from 2004 to 2020, performing in various senior leadership roles responsible for leading, underwriting, structuring and arranging financing solutions to support issuers’ access to the capital markets for acquisition financings, recapitalizations, refinancings and restructurings.
“After a thoughtful and diligent search for a candidate whose values, energy, passion, talent, and expertise align with Patrick’s core values and business needs, we are very excited to welcome Jake on board to lead the company’s finance function, as well as manage relationships with our financial institutions, shareholders, analysts and other key stakeholders,” Patrick President and CEO Andy Nemeth stated. “Jake brings a wealth of financial, strategic and M&A experience, and I am confident he will provide the leadership necessary to continue to help us drive and execute on our strategic growth plan and create and promote shareholder value. Jake joins the company from Wells Fargo Securities, where his deep expertise in investment banking, capital markets, and leveraged finance brings synergy, talent, and additional depth to our team.”
Prior to his banking and finance career, Petkovich served as an infantry officer in the United States Army from 1995 to 2002, leading soldiers in both domestic and overseas deployment assignments. He earned a BA in Accounting from Washington and Jefferson College and an MBA with a concentration in finance from the College of William and Mary.
“I am both excited and humbled to be joining the Patrick family and look forward to working with the entire team to further enhance the company’s financial and operational performance, play a key role in driving the execution of Patrick’s strategic growth initiatives, and maximize growth and potential for all of our stakeholders,” he stated.
Nemeth also recognized interim CFO John Forbes.
“We would also like to thank John Forbes, a long-time member of Patrick’s Board of Directors, who has served as interim CFO since June 2020, for all of his efforts and leadership in providing a seamless transition and allowing us the time and patience to conduct a thorough and disciplined search process,” Nemeth stated. “John’s contributions were many and invaluable. We are grateful to have had the opportunity to work with John as we continue to advance our organizational goals and objectives. John will remain in his role as a director and will work with the company to support an orderly transition over the next 60 days.”
