Interface, Inc. (NASDAQ: TILE), the global flooring solutions company and leader in sustainability, has appointed Catherine Marcus to its Board of Directors.
Marcus is steeped in the commercial real estate industry and brings a deep understanding of the corporate office segment, a critical area of focus and growth for Interface. With her extensive insights into the dynamic needs of its core commercial customers, she will help Interface identify growth opportunities and drive the company to deliver differentiated, design-forward, market-leading premium flooring solutions to this important segment, among others.
Catherine serves as the Co-CEO and Chief Operating Officer of PGIM Real Estate, one of the world’s largest global real estate investment managers and a major profit center of PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU). She is responsible for global strategy and oversees PGIM Real Estate’s business and investment operations globally. She is also a member of the board of directors for Skanska AB (Nasdaq Stockholm: SKA B), the multinational construction company.
"Cathy is a visionary leader and brings invaluable strategic perspective and insight to Interface," said Laurel Hurd, CEO of Interface. "She has an amazing track record in the real estate investment industry and knows our corporate office customers, what they need, and how the landscape is evolving – with her guidance, Interface can serve them even better. She also brings years of global experience to the table, understanding how to motivate and lead local teams while driving global efficiency and consistency. I am confident that her insights will play a pivotal role in accelerating our growth and delivering shareholder value.”
Since joining Prudential Financial in 1998, Marcus has revitalized PGIM Real Estate by striking a balance between centralized control of operations and on-the-ground business agility, which is a model very similar to Interface with its integrated, global operations. In addition, her contributions transformed PGIM Real Estate into the technologically advanced, high-margin global enterprise it is today, and she will guide the team on new approaches to support the company’s efficiency and productivity objectives.
Marcus has a Bachelor of Science degree in Real Estate Finance and Entrepreneurial Management from the Wharton School at the University of Pennsylvania and a Master of Science in Real Estate Investment and Development from New York University.
Interface's board now includes the following 10 directors:
- John Burke, CEO, Trek Bicycle Corporation
- Dwight Gibson, former CEO, BlueLinx Holdings, Inc.
- Daniel Hendrix, Board Chairman; former CEO, Interface
- Laurel Hurd, CEO, Interface
- Christopher Kennedy, Board Lead Independent Director; Chairman, Kennedy Real Estate
- Joseph Keough, Chairman and CEO, Wood Partners
- Catherine Kilbane, former SVP, General Counsel and Secretary, The Sherwin Williams Company
- David Kohler, Chair and CEO, Kohler Co.
- Catherine Marcus, Co-CEO and COO, PGIM Real Estate
- Robert T. O’Brien, former Deputy Managing Partner, Growth & Offerings, Deloitte & Touche LLP
Visit the Interface investor website at https://investors.interface.com for additional information.
Interface, Inc., (NASDAQ: TILE) is a global flooring solutions enterprise with an integrated portfolio of carpet tile and resilient flooring products, where everything is third-party certified carbon neutral. With our design approach to flooring systems, we help our customers create high-performance interior spaces that have a positive impact on people’s lives and the planet. Our range includes Interface® carpet tile and LVT, nora® by Interface rubber flooring, and FLOR® premium area rugs for commercial and residential spaces.
Interface is third-party certified as a Carbon Neutral Enterprise. We neutralized our carbon impact across our entire business, including all operations and our full value chain, marking an important milestone toward our objective to become a restorative and carbon negative enterprise by 2040.
Learn more about Interface at interface.com and blog.interface.com, nora by Interface at nora.com, FLOR at FLOR.com, our sustainability journey at interface.com/sustainability, and our Carbon Neutral Enterprise certification at https://www.interface.com/US/en-US/sustainability/carbon-neutral-enterprise.html.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
Except for historical information contained herein, the other matters set forth in this news release are forward-looking statements. Forward-looking statements may be identified by words such as “may,” “expect,” “forecast,” “anticipate,” “intend,” “plan,” “believe,” “could,” "should," "goal," "aim," "objective," “seek,” “project,” “estimate,” “target,” “will” and similar expressions. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including but not limited to the risks under the following subheadings in “Risk Factors” in the Company's Annual Report on Form 10-K for the fiscal year ended January 1, 2023: "We compete with a large number of manufacturers in the highly competitive floorcovering products market, and some of these competitors have greater financial resources than we do. We may face challenges competing on price, making investments in our business, or competing on product design or sustainability", "Our earnings could be adversely affected by non-cash adjustments to goodwill, when a test of goodwill assets indicates a material impairment of those assets", "Our success depends significantly upon the efforts, abilities and continued service of our senior management executives, our principal design consultant and other key personnel (including experienced sales and manufacturing personnel), and our loss of any of them could affect us adversely", "Large increases in the cost of our raw materials, shipping costs, duties or tariffs could adversely affect us if we are unable to pass these cost increases through to our customers", "Unanticipated termination or interruption of any of our arrangements with our primary third-party suppliers of synthetic fiber or our primary third-party supplier for luxury vinyl tile (“LVT”) or other key raw materials could have a material adverse effect on us", "The market price of our common stock has been volatile and the value of your investment may decline", "Changes to our facilities, manufacturing processes, product construction, and product composition could disrupt our operations, increase our manufacturing costs, increase customer complaints, increase warranty claims, negatively affect our reputation, and have a material adverse effect on our financial condition and results of operations", "Our business operations could suffer significant losses from natural disasters, acts of war, terrorism, catastrophes, fire, adverse weather conditions, pandemics, endemics, unstable geopolitical situations or other unexpected events", "Disruptions to or failures of our information technology systems could adversely affect our business", "The impact of potential changes to environmental laws and regulations and industry standards regarding climate change could lead to unforeseen disruptions to our business operations", "The COVID-19 pandemic has had and could continue to have (and other public health emergencies could have in the future) a material adverse effect on our ability to operate, our ability to keep employees safe from the pandemic, our results of operations, financial condition, liquidity, capital investments, our near term and long term ability to stay in compliance with debt covenants under our Syndicated Credit Facility and Senior Notes, our ability to refinance our existing indebtedness, and our ability to obtain financing in capital markets", "Sales of our principal products have been and may continue to be affected by the COVID-19 pandemic, adverse economic cycles, and effects in the new construction market and renovation market", "Our substantial international operations are subject to various political, economic and other uncertainties that could adversely affect our business results, including foreign currency fluctuations, restrictive taxation, custom duties, border closings or other adverse government regulations", "The conflict between Russia and Ukraine could adversely affect our business, results of operations and financial position", "Fluctuations in foreign currency exchange rates have had, and could continue to have, an adverse impact on our financial condition and results of operations", "The uncertainty surrounding the ongoing implementation and effect of the U.K.’s exit from the European Union, and related negative developments in the European Union could adversely affect our business, results of operations or financial condition", "We have a substantial amount of debt, which could adversely affect our business, financial condition and results of operations and our ability to meet our payment obligations under our debt", "Servicing our debt requires a significant amount of cash, and we may not have sufficient cash flow from our operations to pay our indebtedness", "We may incur substantial additional indebtedness, which could further exacerbate the risks associated with our substantial indebtedness", "We face risks associated with litigation and claims". You should consider any additional or updated information we include under the heading “Risk Factors” in our subsequent quarterly and annual reports.
Any forward-looking statements are made pursuant to the Private Securities Litigation Reform Act of 1995 and, as such, speak only as of the date made. The Company assumes no responsibility to update or revise forward-looking statements made in this press release and cautions readers not to place undue reliance on any such forward-looking statements.
"Cathy is a visionary leader and brings invaluable strategic perspective and insight to Interface," said Laurel Hurd, CEO of Interface.