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Mohawk Industries, Inc. is a leading global flooring manufacturer, operating in 19 countries and selling products in approximately 170 countries, making it the world's largest flooring company based on annual sales . The company operates through three main segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW) . Mohawk Industries emphasizes innovation, sustainability, and a diverse product offering to maintain its competitive edge in the flooring industry .
- Global Ceramic - Designs, manufactures, and markets a broad line of ceramic, porcelain, and natural stone tile products, as well as porcelain slabs and quartz countertops, primarily distributed in North America, Europe, and Latin America.
- Flooring North America (Flooring NA) - Offers a wide range of floor covering products, including broadloom carpet, carpet tile, rugs, laminate, luxury vinyl tile (LVT), sheet vinyl, and wood flooring, distributed mainly in North America.
- Flooring Rest of the World (Flooring ROW) - Focuses on laminate, vinyl products, wood flooring, and other related products, primarily distributed in Europe and Australasia.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Jeffrey S. Lorberbaum ExecutiveBoard | Chairman and Chief Executive Officer | N/A | Jeffrey S. Lorberbaum is the Chairman and CEO of Mohawk Industries, continuing in this role as of October 25, 2024. | View Report → |
W. Christopher Wellborn ExecutiveBoard | Vice Chair of the Board of Directors | N/A | W. Christopher Wellborn retired as President and COO but continues as Vice Chair and senior advisor. | |
James F. Brunk Executive | Chief Financial Officer | N/A | James F. Brunk has been the CFO since April 1, 2021, overseeing financial operations and compliance. | |
Ken Walma Executive | President of the Flooring North America Segment | N/A | Ken Walma joined Mohawk Industries on November 11, 2024, and became President of Flooring North America on February 1, 2025. | |
Malisa M. Maynard Executive | Chief Sustainability Officer | N/A | Malisa M. Maynard leads ESG strategy as Chief Sustainability Officer since May 25, 2023. | |
Mauro Vandini Executive | President of the Global Ceramic Segment | N/A | Mauro Vandini became President of the Global Ceramic Segment on September 15, 2024, with a background in ceramic manufacturing. | |
Paul F. De Cock Executive | President and Chief Operating Officer | N/A | Paul F. De Cock became President and COO on February 1, 2025, after leading Flooring North America. | |
R. David Patton Executive | Vice President – Business Strategy, General Counsel, and Secretary | N/A | R. David Patton has been in his current role since July 2013, overseeing business strategy and legal matters. | View Report → |
William W. Harkins Executive | Chief Accounting Officer and Corporate Controller | N/A | William W. Harkins has been CAO and Corporate Controller since August 1, 2022, with a background at Mars and Coca-Cola. | |
Wim Messiaen Executive | President – Flooring Rest of the World | N/A | Wim Messiaen became President of Flooring Rest of the World on February 1, 2024, with extensive leadership experience. | |
Bruce C. Bruckmann Board | Director | Managing Director of Bruckmann, Rosser, Sherrill & Co., Inc.; Director of H&E Equipment Services L.L.C.; Director of Heritage-Crystal Clean Inc.; Director of Eos Fitness | Bruce C. Bruckmann has been a director since October 1992, with significant experience in corporate finance. | |
Jerry W. Burris Board | Director | President and CEO of Midwest Can Company; Director of nVent Electric plc | Jerry W. Burris has been a director since February 2022, with a background in executive leadership. | |
John M. Engquist Board | Director | Executive Chairman of H&E Equipment Services, Inc.; Director at LSU Foundation Board; Board member at Franciscan Missionaries of Our Lady Health System, Inc.; Our Lady of the Lake Regional Medical Center; St. Jude Children’s Research Hospital | John M. Engquist has been a director since February 2020, with extensive leadership roles in equipment services. | |
Joseph A. Onorato Board | Director | Member of the Dean’s Advisory Council at Quinnipiac University School of Business | Joseph A. Onorato has been a director since February 2008, with a strong background in finance and accounting. | |
Karen A. Smith Bogart Board | Director | President of Smith Bogart Consulting; Director at Michelman Inc. | Karen A. Smith Bogart has been a director since May 2011, with extensive executive experience in consumer products and governance. | |
William H. Runge III Board | Director | Managing Director at Alvarez & Marsal | William H. Runge III has been a director since July 2014, with experience in executive roles across various industries. |
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Given that your net sales decreased by approximately 2% compared to last year and you continue to face pricing and mix pressures, what specific strategies are you implementing to sustain margins and drive growth in this challenging environment?
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With the commercial segment anticipated to slow down and knowing it constitutes roughly 25% of your business with generally higher margins, how do you plan to mitigate the potential negative impact on overall profitability in 2025?
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In the Flooring Rest of World segment, sales volumes didn't pick up as expected after the holidays, and market conditions remain challenging. What are the underlying factors for this underperformance, and what actions are you taking to address them?
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Considering the European market is facing political uncertainties and higher interest rates, which may impact the timing of recovery, how are you adjusting your operations and expectations in Europe relative to other geographies?
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Residential remodeling, which comprises almost half of your business, remains under significant pressure with existing home sales at multi-decade lows. What gives you confidence in forecasting a recovery in 2025, and what indicators are you monitoring to support this outlook?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Ceramic Tile Business in Brazil | 2023 | Completed in Q1 2023, this acquisition was part of a dual transaction (with Mexico) in Mohawk’s Global Ceramic segment. The combined deal, valued at approximately $515.5–$519.3 million, involved a significant allocation to working capital, property/plant/equipment, and goodwill of $84.4–$86.8 million, set to deliver strategic synergies and operational efficiencies in Brazil’s ceramic tile market. |
Ceramic Tile Business in Mexico | 2023 | Completed in Q1 2023, this acquisition formed the second part of the ceramic tile business transactions, sharing a combined purchase price of roughly $515.5 million and a goodwill allocation of about $85.9 million. It strategically enhances Mohawk’s ceramic performance, leveraging best practices, operational expertise, and cost reduction measures in a more favorable economic setting. |
Foss Floors | 2022 | Completed on July 6, 2022, Mohawk acquired Foss Floors for approximately $146.4 million in cash. The deal brought in a Georgia-based manufacturer specializing in non-woven, needle-punch technology and diversified product offerings (rugs, carpet, DIY tiles, artificial turf), with $56.2 million in goodwill and $15 million in intangibles, bolstering Mohawk's Flooring North America segment. |
Vitromex | 2022 | Announced on June 3, 2022 and valued at $293 million in cash, the deal for Vitromex, a leading ceramic tile manufacturer in Mexico, is set to make Mohawk the #2 ceramic producer in a $1.7 billion market. The acquisition includes four manufacturing facilities and approximately $200 million in prior year sales, aligning with Mohawk’s strategy to expand product offerings and operational efficiencies in the Mexican ceramic market, with final closing expected around early 2023 upon government approvals. |
Recent developments and announcements about MHK.
Earnings
New Earnings (Q4 2024)
·Feb 7, 2025, 10:15 PMView full earnings summary →MHK targets $285M in restructuring savings by 2026 ($180M by 2025), strengthening margins. Although volumes face high-rate headwinds and margin compression, new product intros and rising market share may fuel modest earnings growth. Recovery remains multi-year.
8-K Filings
8-K Filing
·Feb 19, 2025, 9:34 PMLeadership ChangesView full 8-K filing →Mohawk Industries announced CFO William W. Harkins will resign to pursue another opportunity, with his departure effective March 14, 2025. Interim CFO James F. Brunk will also serve as Chief Accounting Officer and Corporate Controller as the company searches for a replacement.