Houston, TX, November 10--Tom Cosky, CEO of MasterTile, stepped down today citing a need for new and different executive management to take MasterTile to the next level and build an integrated, national organization. Under Mr. Cosky's leadership MasterTile grew in Texas from humble beginnings to a market-leading wholesaler of ceramic tile.
"I am proud of what we achieved in Texas, but I know that a different type of leader is required to run a substantially larger, national organization that is operating in a far more competitive environment," said Mr. Cosky.
Hazem Farra, MasterTile's chairman, will assume the role of interim CEO while a search is conducted for a new top executive. All other senior management will remain in their current positions.
"MasterTile would not be the market-leading business it is today without Tom's vision and leadership," said Mr. Farra. "As Tom leaves to pursue new interests, we look forward to continuing our emphasis on outstanding customer service and industry-leading product selection."
MasterTile's board of directors will begin its search for a new CEO immediately. "Our focus will be on finding an individual who has experience managing and growing a national organization, delivering value to customers, and managing profitable growth," said Mr. Farra
MasterTile was founded over 55 years ago in Texas and was one of the very first companies to import ceramic tile into the United States. Two years ago the company began a national expansion, acquiring and opening operations in Florida and California. MasterTile distributes floor and wall tile, swimming pool tile, decorative tile, porcelain, natural stone, and setting materials. It serves both the commercial and residential markets.
"We will continue to build on the successes we have achieved in all our lines of business and anticipate solid growth in the years ahead," said Mr. Farra.
