Hancock Lumber unveils leadership transition
Courtesy / Hancock Lumber
Hancock Lumber CFO Paul Wainman, left, will take on the additional role of president in January 2020, while Kevin Hancock will continue as CEO and board chair, the company announced.
Hancock Lumber, a sixth-generation family business based in Casco, will change its leadership in 2020.
Starting in January, CFO Paul Wainman will also serve as president, and become the eighth person in that role since the company was founded in 1848. He joined Hancock in 2016.
While stepping down as president, Kevin Hancock will continue to serve as CEO and board chair.
In a news release announcing the changes, the company praised Wainman for doing an "exceptional job, working directly with every business unit, developing budgets, budget plans, strategy and capital reinvestments."
The release noted that Wainman had previously served as president of two other firms, Kleinfeld Paper and William Arthur.
"Hancock Lumber truly is a great place to work and I am humbled and very excited by this opportunity," Wainman said. "We have an amazing team of employees and wonderful customers, vendors and professional partners, all of whom contribute greatly to our success. I look forward to working with them in all my expanded role as president."
Kevin Hancock added that he looks forward to spending more time and energy on his CEO and board chair roles "and remain super excited about Hancock Lumber's future, and this opportunity for Paul and the company."
As an adult, Hancock's first job at the family business was working at the front counter of the Yarmouth store, followed by several years running the Windham branch. He also said that his role at the firm has and should continue to evolve over time.
Hancock was a panelist at a Mainebiz CEO Breakfast Forum earlier this month where he shared how being afflicted with a neurological voice disorder prompted him to change his management approach, including giving employees a greater role in decision making.
In its announcement about the management changes, Hancock Lumber said it promotes a shared leadership philosophy and is designed to be a place where everybody leads. "Every voice in the company is important," it said, "and every person on the team has a critical role."
The company, which employs 530 people, operates a land business, a sawmill division, and a network of retail lumber yards, home design showrooms and a truss manufacturing facility.
The changes at Hancock Lumber come amid the company's ongoing expansion to Saco, which will include the construction of a lumber yard and kitchen design showroom by next spring.
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