Armstrong World Industries Inc 8-K, filed Jan 14, 2026
Armstrong World Industries Inc (AWI)
About this 8-K
Armstrong World Industries Inc filed this 8-K on January 14, 2026, reporting on events of January 13, 2026.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Section 5 - Corporate Governance and Management
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Leadership Transition
On January 13, 2026, the Board of Directors (the “Board”) of Armstrong World Industries, Inc. (the “Company”) approved the following changes, each of which will take place effective as of April 1, 2026:
• Victor D. Grizzle will transition from his position as the Company’s President and Chief Executive Officer and will become Executive Chair of the Board;
• Mark A. Hershey, currently the Company’s Senior Vice President and Chief Operating Officer, will succeed Mr. Grizzle as President and Chief Executive Officer and will become a director of the Board; and
• Roy W. Templin, the Company’s current Chair of the Board, will become lead independent director.
With the addition of Mr. Hershey, the Board expands to nine members. Mr. Hershey’s initial term expires at the Annual Shareholders’ Meeting scheduled for June 11, 2026 (the “Annual Shareholders’ Meeting”).
Subject to his reelection as a director at the Annual Shareholders’ Meeting, Mr. Grizzle is expected to continue to serve as Executive Chair of the Board until December 31, 2026, at which time he is expected to resign as a director. Subject to his reelection as a director at the Annual Shareholders’ Meeting, Mr. Templin is expected to continue to serve as lead independent director until December 31, 2026, and to be reappointed Chair of the Board effective January 1, 2027.
Mr. Hershey has served as our Senior Vice President & Chief Operating Officer since April 2025 and previously served as our Senior Vice President, Americas from January 2022 to March 2025; Senior Vice President, General Counsel and Business Development from January 2020 to January 2022; Senior Vice President, General Counsel from July 2011 to January 2022; and Chief Compliance Officer from February 2012 to January 2022.
There are no arrangements or understandings between Mr. Hershey, Mr. Grizzle, or Mr. Templin and any other persons pursuant to which each was appointed as an officer or director of the Company (other than arrangements or understandings with directors or officers of the Company acting solely in their capacities as such). There are also no family relationships between Mr. Hershey, Mr. Grizzle, or Mr. Templin and any director or executive officer of the Company, and none is party to or has any direct or indirect material interest in any transaction requiring disclosure under Item 404(a) of Regulation S-K.
Changes to Compensatory Arrangements
In connection with these leadership changes, the Board also approved certain changes to Mr. Hershey’s and Mr. Grizzle’s respective compensation, to be effective as of April 1, 2026.
With respect to Mr. Hershey’s elevation, the Board approved the following actions:
• An increase in Mr. Hershey’s annual salary to $850,000;
• An increase in Mr. Hershey’s target award under the Company’s Annual Incentive Plan to 105% of his base salary; and
• An increase in Mr. Hershey’s target award under the Company’s Equity and Cash Incentive Plan to 388% of his base salary.
With respect to Mr. Grizzle’s transition to Executive Chair, the Board approved the following actions:
• A decrease in Mr. Grizzle’s annual salary to $700,000;
• A decrease in Mr. Grizzle’s target award under the Company’s Annual Incentive Plan to 100% of his base salary; and
• A decrease in Mr. Grizzle’s target award under the Company’s Equity and Cash Incentive Plan to 386% of his base salary.
As non-independent members of the Board, neither Mr. Hershey nor Mr. Grizzle will receive compensation as directors.
Item 8.01. Other Events.
On January 14, 2026, the Company issued a press release announcing the matters described in Item 5.02. A copy of the press release is attached as Exhibit 99.1 and is incorporated by reference herein.
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Section 9 – Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
No. 99.1
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Press Release of Armstrong World Industries, Inc. dated January 14, 2026
Cover Page Interactive Data File (embedded within the Inline XBRL document) |
Safe Harbor Statement
Statements contained in this Current Report on Form 8-K and the exhibit hereto that state the Company’s or its management’s expectations or predictions of the future are forward-looking statements intended to be covered by the safe harbor provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. The forward-looking statements in this Current Report on Form 8-K and the exhibit hereto include expectations with respect to executive transition dates and compensation, among other items. It is important to note that actual results could differ materially from those projected in such forward-looking statements based on numerous factors, including those outside of the Company’s control. For more information concerning factors that could cause actual results to differ from those expressed or forecasted, see the Company’s annual report on Form 10-K, quarterly reports on Form 10-Q, and other reports filed with the Securities and Exchange Commission.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
ARMSTRONG WORLD INDUSTRIES, INC. |
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By: |
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/s/ Austin K. So |
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Austin K. So |
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SVP General Counsel, Head of Government Relations & Chief Sustainability Officer |
Date: January 14, 2026
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Exhibit 99.1
Armstrong World Industries Announces President and
CEO Vic Grizzle to Transition to Executive Chair and
Mark Hershey to Become President and CEO Effective April 1, 2026
LANCASTER, Pa., (Jan. 14, 2026) — Armstrong World Industries, Inc. (NYSE:AWI), an Americas leader in the design and manufacture of innovative interior and exterior architectural applications including ceilings, specialty walls and exterior metal solutions, announced today that the company’s President and CEO Vic Grizzle will transition to Executive Chair, and that current Senior Vice President and Chief Operating Officer Mark Hershey will succeed Grizzle as CEO and President effective April 1, 2026. Hershey will also become a member of the Armstrong Board of Directors.
“On behalf of the Board, we sincerely appreciate Vic’s decade of service as CEO and his commitment to ensuring a successful leadership transition,” said Roy Templin, Chair of the Armstrong Board of Directors. “Under Vic’s leadership, Armstrong transformed into a uniquely focused, building products company with a proven record of consistent, profitable growth. His focus on operational excellence, innovation, disciplined capital allocation and talent development created tremendous value for shareholders, highlighted by nearly quadrupling the company’s market capitalization since separating from its flooring business in 2016.”
Templin continued, “The selection of Mark as Vic's successor is the culmination of our long-term succession planning process and a demonstration of our ongoing commitment to developing talent at all levels. We have complete confidence in Mark’s leadership and dedication to advancing our strategic objectives.”
Grizzle shared, “After 15 exciting and transformative years at Armstrong, including 10 years as CEO, I’ve decided this is the right time to transition the leadership of this extraordinary company to Mark, with whom I have worked closely throughout my tenure at Armstrong. Over the past 10 years, we have built a more resilient company with a consistent growth profile. It has been an honor and a pleasure to lead Armstrong through this period of significant change and growth. Over Mark’s 15 years at Armstrong, he has played a pivotal role in each step of this journey, including leading the development and execution of our strategy and the completion of all 14 acquisitions that have built our Architectural Specialties segment. I have full confidence that, with his leadership capabilities and his deep understanding of Armstrong’s business, strategy and culture, he will sustain our momentum and guide Armstrong into a new era of success.”
“I am honored and excited to lead Armstrong, a remarkable company with a proud 165-year legacy, a culture rooted in excellence and integrity, and a future full of opportunity,” said Hershey. “I am also grateful for Vic’s outstanding leadership and the confidence the Board has placed in me. Driven by the talent and dedication of an exceptional Armstrong team, we will continue to build on our strong foundation, accelerate our growth strategy and innovate – always keeping our customers at the center of everything we do.”
About Mark Hershey
Mark Hershey currently serves as Armstrong’s Chief Operating Officer, a position he has held since April 2025, and previously served as senior vice president, Americas since January 2022. In these roles, he has been responsible for the business strategy and operations of both company segments, Mineral Fiber and Architectural Specialties, along with business development, innovation, and enterprise-wide strategic planning. In addition to leading a wide range of commercial and strategic transactions and initiatives, he has been instrumental in all 14 acquisitions that have transformed the company’s Architectural Specialties segment since 2016. He played a lead role in the separation of the company’s flooring business in 2016, and the divestitures of AWI’s European and Pacific Rim businesses in 2019. He joined Armstrong in 2011 as general counsel and secretary, subsequently serving as chief compliance officer and head of the company’s sustainability efforts. Hershey holds a bachelor’s degree in finance from The Pennsylvania State University and a juris doctor from Villanova University School of Law. He also serves on the board of trustees of The National Building Museum in Washington D.C.
About Armstrong World Industries
Armstrong World Industries, Inc. (AWI) is an Americas leader in the design and manufacture of innovative interior and exterior architectural applications including ceilings, specialty walls and exterior metal solutions. For years, Armstrong has delivered products and capabilities that enable architects, designers and contractors to transform building design and construction with elevated aesthetics, acoustics and sustainable attributes. With $1.4 billion in revenue in 2024, AWI has approximately 3,800 employees and a manufacturing network of 22 facilities, plus seven facilities dedicated to its WAVE joint venture.
Contact
Theresa Womble, VP, Investor Relations and Corporate Communications
tlwomble@armstrong.com or (717) 396-6354
Morgan Leitzel, Investor Relations Manager
mcleitzel@armstrong.com or (717) 396-2240
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