James Hardie Industries plc (JHX) is a global leader in high-performance building solutions, specializing in fiber cement and fiber gypsum products. The company designs and manufactures durable and innovative building materials for residential and commercial applications. Its products are known for their resistance to moisture, fire, impact, and termites, offering superior performance compared to traditional materials like wood and vinyl siding.
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Fiber Cement Products - Manufactures siding, cladding, trim, soffit, and boards for external and internal applications under the Hardie™ brand, including Hardie® Plank, Hardie® Panel, Hardie® Trim, and Hardie® Backer.
- Hardie® Artisan® Siding - Offers premium siding solutions with enhanced aesthetic appeal.
- Hardie™ Architectural Collection - Provides advanced architectural designs for diverse building styles.
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Fiber Gypsum and Cement-Bonded Boards - Produces interior dry lining walls, timber frame building walls, and flooring solutions under the fermacell® and AESTUVER® brands.
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Residential Segment - Offers composite decking, railing, trim, moulding, pergolas, cabanas, and accessories for residential construction.
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Commercial Segment - Supplies lockers, bathroom partitions, and other commercial building products, with a focus on high-value solutions.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Aaron Erter ExecutiveBoard | Chief Executive Officer (CEO) | Board of Directors for Ball Corporation; Board of Directors for Chicagoland Habitat for Humanity; Pro Football Hall of Fame National Advisory Board; Harvard Joint Center for Housing Studies; First Tee | Aaron Erter has been serving as the Chief Executive Officer (CEO) of James Hardie Industries plc since September 1, 2022. He is also the sole executive director on the board and brings over 25 years of experience from prior leadership roles at companies such as PLZ Corp and Sherwin-Williams. | View Report → |
Farhaj Majeed Executive | Chief Human Resources Officer (CHRO) | Farhaj Majeed is the Chief Human Resources Officer at JHX since February 2023. He has over 25 years of global HR experience and has previously served at Whirlpool Corporation, Abbott Laboratories, Mondelez International, and Kraft Foods. | ||
James Johnson II Executive | Chief Information Officer (CIO) | James Johnson II has served as the Chief Information Officer at James Hardie Industries since December 2021, leveraging over 25 years of IT experience and 15 years as CIO. Previously, he held IT roles at Carpenter Technology, Honeywell International, Performance Fibers, and Trinseo. | ||
Joe Liu Executive | Chief Technology Officer (CTO) | Joe Liu is James Hardie’s Chief Technology Officer (CTO) since January 2022; previously, he served as the general manager for the Asia Pacific business and spent 26 years at 3M. | ||
Rachel Wilson Executive | Chief Financial Officer (CFO) | Rachel Wilson has been the Chief Financial Officer at James Hardie Industries since August 2023, bringing a 30-year track record of managing multi-billion dollar transactions and driving stakeholder value. Previously, she served in senior financial roles at R1 RCM, Iron Mountain, and began her career at Morgan Stanley. | ||
Tim Beastrom Executive | Chief Legal Officer | Tim Beastrom is the Chief Legal Officer at James Hardie Industries since January 2023, with 25 years of in-house legal experience in corporate governance, securities law, and mergers and acquisitions. Previously, he held senior legal roles at Ecolab, Inc., Sherwin-Williams Company, and The Valspar Corporation. | ||
Anne Lloyd Board | Independent, Non-Executive Chair | Director at Insteel Industries, Inc. ; Director at Highwoods Properties, Inc. ; Director at New Frontier Materials LLC | Anne Lloyd has been serving as the Independent, Non-Executive Chair at JHX since November 2022 and has been on the Board since November 2018. Previously, she held key roles such as Interim CFO and Chair of the Audit Committee, significantly contributing to the company’s governance and oversight. | |
Harold Wiens Board | Independent, Non-Executive Director | The Rejuvi Venture, Inc. (Unlisted, since 2021) | Harold Wiens has served as an Independent, Non-Executive Director at JHX since May 2020 with his term expiring in August 2026. He brings extensive leadership experience from his 38-year career at 3M, including roles as Executive Vice President and other senior positions. | |
John C. Pfeifer Board | Independent, Non-Executive Director | Oshkosh Corporation; Froedtert ThedaCare Health, Inc.; National Exchange Bank & Trust; National Association of Manufacturers | John C. Pfeifer has been serving as an Independent, Non-Executive Director at JHX since May 16, 2024. He is a member of the People & Remuneration Committee and brings over 30 years of global leadership experience from roles at Oshkosh Corporation and Brunswick Corporation. | |
Nigel Stein Board | Independent, Non-Executive Director | Nigel Stein is an Independent, Non-Executive Director at JHX, having been appointed on May 14, 2020, with his term expiring in August 2026. He also serves on the Audit Committee (since June 1, 2020) and Nominating & Governance Committee (since October 26, 2020), and has held significant roles externally in companies such as Inchcape plc and GKN Ltd. | ||
Persio V. Lisboa Board | Independent, Non-Executive Director | Director at J.B. Hunt Transport Services Inc. (NASDAQ: JBHT); Director at Ascendance Trucks, LLC; Director at Allegiance Trucks, LLC | Persio V. Lisboa has served as an Independent, Non-Executive Director at JHX since February 2, 2018. He has extensive senior leadership experience including a tenure as CEO at Navistar, Inc.. | |
Peter-John Davis Board | Independent, Non-Executive Director | Peter-John Davis is an Independent, Non-Executive Director at JHX since 10 August 2022. He brings over 40 years of industry experience, including a 15-year tenure as COO of Bunnings Australia & New Zealand, and joined the Nominating & Governance Committee on 2 November 2023. | ||
Rada Rodriguez Board | Independent, Non-Executive Director | CEO of Signify DACH; Director at ZVEI | Rada Rodriguez has served as an Independent, Non-Executive Director at JHX since November 13, 2018, and holds key committee roles including Chair of the Nominating & Governance Committee since November 2022. She is also the CEO of Signify DACH (since May 2021) and a Director at ZVEI (since 2014). | |
Renee J. Peterson Board | Independent, Non-Executive Director | Independent Director at Franklin Electric (Audit Committee Chair; Executive Sponsor for Franklin Women's Network); Former Board Member at Greater Twin Cities United Way (Treasurer; Finance & Human Capital Committee Chair; Executive Committee Member) | Renee J. Peterson has been serving as an Independent, Non-Executive Director at JHX since November 30, 2022. She previously held senior roles including CFO and Vice President at The Toro Company, Vice President of Finance and Planning at Eaton Corporation, and held a 25‐year career at Honeywell International. | |
Suzanne B. Rowland Board | Independent, Non-Executive Director | Sealed Air Corporation (NYSE: SEE) since 2020; Kenan Advantage Group, Inc. since 2024 | Suzanne B. Rowland serves as an Independent, Non-Executive Director at JHX since February 2021, and she brings extensive global executive experience from her previous roles at Ashland Global Holdings Inc., Tyco International plc, and Rohm and Haas Company. Her tenure in these senior leadership positions underscores her expertise in driving strategic growth and effective corporate governance. |
- Considering your guidance for a mid-single-digit decline in North American volumes, can you break down the internal expectations for repair and remodel versus single-family new construction, and explain how you plan to outperform market trends in each segment?
- Regarding the integration with AZEK, what specific priorities and milestones do you need to achieve in the first 6–12 months to secure the anticipated $500 million in commercial synergies without disrupting current operations?
- With the recent multiyear agreements signed with key homebuilders like those mentioned in the call, could you detail the duration, specific scope, and strategic impact of these partnerships, and the key metrics you plan to monitor for success?
- Given the ongoing softness in the multifamily and interior remodeling segments, what targeted strategies are you deploying to mitigate risks in these areas while aiming to drive growth in your single-family exteriors business?
- In light of the modest 1% ASP increase in North America despite a mid-single-digit price hike, can you elaborate on the factors such as discounting, mix shifts, or other pressures—particularly from multifamily—and how you plan to improve pricing realization for stronger future growth?
Research analysts who have asked questions during James Hardie Industries earnings calls.
Keith Chau
MST Marquee
4 questions for JHX
Andrew Scott
Morgan Stanley
3 questions for JHX
Harry Saunders
E&P Financial Group
3 questions for JHX
Keith Hughes
Truist Financial Corporation
3 questions for JHX
Lee Power
UBS
3 questions for JHX
Matthew McKellar
RBC Capital Markets
3 questions for JHX
Peter Steyn
Macquarie Group
3 questions for JHX
Alistair Harvey
JPMorgan Chase & Co.
2 questions for JHX
Brook Campbell-Crawford
Barrenjoey
2 questions for JHX
Shaurya Visen
Bank of America
2 questions for JHX
Daniel Kang
CLSA
1 question for JHX
Kai Erman
Jefferies
1 question for JHX
Niraj-Samip Shah
Goldman Sachs
1 question for JHX
Philip Ng
Jefferies
1 question for JHX
Ryan Merkel
William Blair & Company
1 question for JHX
Samuel Seow
Citigroup
1 question for JHX
Timothy Wojs
Robert W. Baird & Co.
1 question for JHX
Will Wilson
UBS
1 question for JHX
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
The AZEK Company Inc. | 2025 | Deal Value & Structure: The acquisition is structured via a merger agreement valued at $8.75 billion (including net debt of approximately $386 million) where each AZEK Class A common stock is converted into $26.45 cash plus 1.0340 James Hardie ordinary shares, with cash in lieu of fractional shares. Strategic Rationale: The deal is aimed at uniting complementary products, expanding the total addressable market, and generating $350 million of additional annual adjusted EBITDA from synergies, with closing expected in the second half of 2025. |
Fermacell | 2018 | Deal Value & Structure: Completed on April 3, 2018, the acquisition was executed as a stock purchase for an enterprise value of €473.0 million (approximately US$635.6 million), financed through cash and a Term Loan Facility. Strategic Rationale: By acquiring Fermacell, which operates six manufacturing plants across Europe and produces gypsum fiber boards and cement-bonded boards, James Hardie significantly expanded its European presence and created a new European Building Products segment to drive long-term growth. |
Recent press releases and 8-K filings for JHX.
- Based on preliminary proxy votes at the 2025 Annual General Meeting held on October 29, 2025, several key resolutions for James Hardie Industries PLC did not receive sufficient shareholder support, including the remuneration report for the year ended 31 March 2025.
- Shareholders also indicated they would not approve the reappointment of Chairperson Ann Lloyd and directors Rhoda Rodriguez and PJ Davis, who will retire automatically if the preliminary results hold. Conversely, Howard Hicks, Gary Hendrickson, and Jesse Singh are expected to be elected.
- Resolutions concerning the grant of return on capital employed restricted stock units to CEO Aaron Erter and an increase in maximum aggregate non-executive director remuneration also appeared unlikely to pass.
- The board acknowledged these significant outcomes, committing to engage with shareholders to understand feedback and consider next steps for board composition and remuneration policies.
- The company remains focused on executing its strategic growth plans and realizing the potential of its combination with ASIC Company Incorporated, with preliminary Q2 results reflecting strong performance in the deck, rail, and accessory segment.
- Shareholders of James Hardie Industries PLC are expected to reject several key resolutions at the FY 2025 Annual General Meeting held on October 29, 2025.
- Resolutions concerning the remuneration report for the year ended March 31, 2025, the grant of return on capital employed restricted stock units to CEO Aaron Erter, and an increase to the maximum aggregate remuneration payable to non-executive directors are not expected to be approved.
- Three current directors, including Chairperson Anne Lloyd, PJ Davis, and Rada Rodriguez, are not expected to be reelected, while Gary Hendrickson, Jesse Singh, and Howard Hicks are expected to be elected.
- The board acknowledged the anticipated outcomes, expressing disappointment but committing to engage constructively with shareholders to understand feedback and consider next steps.
- James Hardie Industries PLC held its 2025 Annual General Meeting on October 29, 2025.
- Based on preliminary proxy votes, several key resolutions appear unlikely to be approved, including the remuneration report (Resolution 2), the grant of return on capital employed restricted stock units to CEO Aaron Erter (Resolution 5), and the increase to the maximum aggregate remuneration payable to non-executive directors (Resolution 8).
- The preliminary proxy votes also indicate significant changes to the board, with Chairperson Anne Lloyd, Rhoda Rodriguez, and PJ Davis appearing not to have secured sufficient support for reelection and set to retire, while Gary Hendrickson, Jesse Singh, and Howard Hicks are expected to be elected.
- The company acknowledged the anticipated outcomes, committing to engage with shareholders for feedback, and emphasized its focus on executing strategic growth plans and realizing the potential from the combination with ASIC Company Incorporated.
- A class-action lawsuit has been filed against James Hardie Industries plc (JHX), alleging securities fraud for misleading investors about inventory levels and customer demand in its North American Fiber Cement segment.
- The lawsuit claims that despite observing significant inventory destocking by channel partners in April and May 2025, management publicly denied the trend and assured investors of sustained strength.
- Plaintiffs contend that sales were artificially inflated by "inventory loading" rather than genuine demand, in a segment that generates about 80% of the company's total earnings.
- On August 19, 2025, James Hardie disclosed a 12% drop in sales in the North America Fiber Cement division, attributing it to the previously denied customer destocking.
- Following this disclosure, James Hardie's common stock dropped by over 34%. The Class Period is May 20, 2025 – Aug. 18, 2025, with a Lead Plaintiff Deadline of Dec. 23, 2025.
- James Hardie Industries plc announced preliminary financial results for the second fiscal quarter ended September 30th, 2025, reporting Net Sales between $1.29 and $1.30 billion, Adjusted EBITDA between $326 and $331 million, and Adjusted Diluted Earnings Per Share between $0.26 and $0.27.
- The company also reported Net Debt of $4.5 billion as of September 30th, 2025.
- CEO Aaron Erter stated that Siding & Trim sales performance exceeded expectations, and the outlook for Siding & Trim has modestly improved.
- FMR LLC notified James Hardie of a substantial holding, crossing the 3% threshold on September 30th, 2025, with a resulting total voting rights position of 3.0502%.
- State Street Corporation and its affiliates reported a substantial holding in James Hardie Industries plc, with a total of 3.88% of voting rights as of September 19, 2025.
- For FY25, James Hardie's CEO realizable compensation was $7.7M, a >10% decline compared to the target pay of $8.6M, despite strong financial performance leading to a 1.5x payout for short-term corporate performance and a 2.0x payout for ROCE.
- James Hardie updated its FY26 Long-Term Incentive (LTI) Plan, increasing the weighting of ROCE and rTSR components to 33% each and reducing the Scorecard weighting to 33%, while also lowering the maximum LTI payout opportunity from 250% to 233%.
- The FY26-28 Scorecard goals, which align with strategic initiatives and reflect the AZEK acquisition, include $125M in cost synergies and $113M in commercial synergies for North America Integration, and a Net Sales Growth CAGR of at least 2% (excluding synergies).
- James Hardie Industries (JHX) shares crashed by 34% on August 20, 2025, after the company disclosed significant issues within its North America business, its largest segment.
- This sharp decline has led to an investigation by Hagens Berman into whether the company may have misled investors about its sales practices and the sustainability of its business model.
- The investigation focuses on the contrast between the company's May 2025 assurances of structural growth and its dismal Q1 2026 results, reported on August 19, 2025.
- James Hardie admitted a 12% year-over-year decline in North America sales volumes due to customers "destocking" inventory from April to May, leading to a reduced outlook for the future.
- James Hardie Industries (JHX) shares crashed by 34% on August 20, 2025, after the company disclosed significant issues with its North America business, its largest segment.
- The company reported dismal Q1 2026 results on August 19, 2025, revealing that North America sales volumes had declined by 12% year-over-year due to customers "destocking" their inventory from April to May.
- Hagens Berman has launched an investigation into whether James Hardie may have misled investors about its sales practices and the sustainability of its business model, focusing on management's knowledge and disclosure of the "inventory destocking".
- This recent performance contradicts the company's assurance in May 2025 that its business model would allow it to "structurally grow through expansions and contractions".
- James Hardie Industries plc issued a total of 62,505 unquoted ordinary shares (JHXAM) between July 16, 2025, and September 8, 2025, as part of the settlement of equity awards outstanding from the merger with The AZEK Company Inc..
- The company also issued 638,984 unquoted Restricted Stock Units (JHXAK) on September 2, 2025, under an employee incentive scheme, including to Key Management Personnel.
- Director Suzanne B. Rowland acquired 770 ordinary shares on-market for US$14,995.75 on September 4, 2025.
- Wellington Management Group LLP increased its substantial holding in the company to 46,745,136 shares/depositary receipts on September 5, 2025.
- As of September 10, 2025, James Hardie Industries plc's issued capital included 430,020,819 quoted CHESS Depositary Interests (JHX), 149,146,418 unquoted ordinary shares (JHXAM), and 4,607,723 unquoted Restricted Stock Units (JHXAK).
- James Hardie Industries (NYSE: JHX) shares crashed by 34% on August 20, 2025, following the disclosure of significant issues within its North America business, the company's largest segment.
- This stock decline prompted an investigation by Hagens Berman into whether the company may have misled investors regarding its sales practices and the sustainability of its business model.
- The investigation focuses on the contrast between James Hardie's previous assurances, such as its claim in May 2025 that its business model would allow it to "structurally grow through expansions and contractions," and its recent performance.
- On August 19, 2025, the company reported "dismal" Q1 2026 results, admitting that North America sales volumes declined by 12% year-over-year due to customers "destocking" their inventory.
- Hagens Berman is investigating whether James Hardie's management knew about this "inventory destocking" and if they properly disclosed this information to investors, suggesting earlier sales figures might have been artificially inflated by pushing products into the distribution channel.