The world's biggest floorcovering company has tapped a top executive from the paper industry to head its finances.
Glenn R. Landau, formerly chief financial officer for International Paper, has been named chief financial officer for Mohawk Industries Inc.
Glenn R. LandauLandau succeeds Frank Boykin, who is retiring as head of finance at Mohawk on March 31 and will take a senior consulting role and provide transition assistance over the next year for his successor.
Landau, 50, has served in a number of key roles at International Paper over the past 28 years, including as president of International Paper Latin America and previous management roles for International Paper in Europe and the United States.
Mohawk CEO Jeff Lorberbaum praised Landau's "wealth of operational and financial experience, along with his background in international business."
"Having held P&L responsibility in both domestic and international assignments, he understands how to drive results and create the best value for shareholders," Lorberbaum said.
Landau, who will be paid an initial base salary of $775,000 plus a stock award and incentives based on performance at Mohawk, said he looks forward to "continuing the company's growth into new markets and product categories."
Since becoming a publicly traded company in 1992, the Calhoun, Georgia-based Mohawk Industries has grown from a North Georgia carpet maker into the world's biggest producer of carpet, vinyl and hardwood flooring surfaces. The company has nearly 38,000 employees at operations in Australia, Brazil, Canada, Europe, India, Malaysia, Mexico, New Zealand, Russia and the United States.