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Pool Corporation Announces the Retirement of A. David Cook, Group Vice President

COVINGTON, La., Aug. 28, 2020 (GLOBE NEWSWIRE) -- Pool Corporation (Nasdaq/GSM:POOL) announced today that A. David Cook (Dave) will retire as Group Vice President effective March 1, 2021.  Over the coming months, Mr. Cook will assist with the transition of his responsibilities, which will be assumed under Pool Corporation's current leadership.

"Dave has had a remarkable career at POOLCORP spanning more than 30 years.  On behalf of the entire POOLCORP team, I want to thank Dave for his invaluable leadership and countless contributions to the growth and success of our company.  We wish him the best in his well-deserved retirement," said Peter D. Arvan, president and CEO.

Pool Corporation is the world's largest wholesale distributor of swimming pool and related backyard products.  POOLCORP operates approximately 375 sales centers in North America, Europe and Australia through which it distributes more than 200,000 national brand and private label products to roughly 120,000 wholesale customers.  For more information about POOLCORP, please visit www.poolcorp.com.

This news release may include "forward-looking" statements that involve risk and uncertainties.  The forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  Actual results may differ materially due to a variety of factors, including impacts on our business from the COVID-19 pandemic, the sensitivity of the swimming pool supply business to weather conditions and other risks detailed in POOLCORP's 2019 Form 10-K, Quarterly Reports on Form 10-Q and other reports and filings with the Securities and Exchange Commission (SEC).

CONTACT:

Curtis J. Scheel
Director of Investor Relations
985.801.5341
curtis.scheel@poolcorp.com

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Aug 28, 2020
Disclaimer:

Cautionary Statement for Purposes of the "Safe Harbor" Provisions of the Private Securities Litigation Reform Act of 1995


Matters discussed in this website contain forward-looking information that involves risks and uncertainties. Forward-looking statements express our current expectations or forecasts of possible future results or events, including projections of earnings and other financial performance measures, statements of management's expectations regarding plans and objectives, and industry, general economic and other financial forecasts of trends and other matters. You can identify these statements by the fact that they do not relate strictly to historic or current facts and often use words such as "anticipate", "estimate", "expect", "believe," "will likely result," "outlook," "project," "should" and other words and expressions of similar meaning. No assurance can be given that the results in any forward-looking statements will be achieved and actual results could be affected by one or more factors, which could cause them to differ materially. For these statements we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act. Certain factors that may affect our business and could cause actual results to differ materially from those expressed in any forward-looking statements include the following:
  • The demand for our swimming pool, irrigation and related outdoor lifestyle products may be adversely affected by unfavorable economic conditions.
  • We are susceptible to adverse weather conditions.
  • Our distribution business is highly dependent on our ability to maintain favorable relationships with suppliers.
  • We face intense competition both from within our industry and from other leisure product alternatives.
  • More aggressive competition by store- and internet-based mass merchants and large pool or irrigation supply retailers could adversely affect our sales.
  • We depend on our ability to attract, develop and retain highly qualified personnel.
  • Past growth may not be indicative of future growth, and while we contemplate continued growth through internal expansion and acquisitions, no assurance can be made as to our ability to:
    • penetrate new markets;
    • generate sufficient cash flows to support expansion plans and general operating activities;
    • obtain financing;
    • maintain favorable supplier arrangements and relationships; and
    • identify and divest assets which do not continue to create value consistent with our objectives.
  • Our business is highly seasonal.
  • The nature of our business subjects us to compliance with employment, environmental, health, transportation, safety, and other governmental regulations.
  • We store chemicals, fertilizers and other combustible materials that involve fire, safety and casualty risks.
  • We conduct business internationally, which exposes us to additional risks
  • Changes in tax laws and accounting standards related to tax matters have caused, and may in the future cause, fluctuations in our effective tax rate.
  • We depend on a global network of suppliers to source our products. Product quality or safety concerns could negatively impact our sales and expose us to legal claims.
  • We rely on information technology systems to support our business operations. Any disturbance or breach of our technological infrastructure could adversely affect our financial condition and results of operations. Additionally, failure to maintain the security of confidential information could damage our reputation and expose us to litigation.
  • A terrorist attack or the threat of a terrorist attack could have a material adverse effect on our business.
The foregoing factors are not exhaustive and new factors may emerge which impact our business. It is impossible for us to predict all such factors. Therefore, forward-looking statements should not be relied upon as a prediction of actual future results. We cannot guarantee that any future event or result will be realized, although we believe we have been prudent in our plans and assumptions. Should additional risks or uncertainties materialize, or should underlying assumptions prove inaccurate, actual results could differ materially from those anticipated. Investors should bear this in mind as they consider forward-looking statements.
We undertake no obligation to publicly update forward-looking statements, whether as a result of subsequent events, new information or otherwise.


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