Paul De Cock Takes Helm at Mohawk Industries

De Cock currently serves as the company’s president and chief operating officer. His promotion comes after more than two decades within the organization, where he held various leadership positions across diverse product categories and international markets. While Lorberbaum exits the chief executive role, he will retain his influence over the company by continuing to serve as chairman of the board.

The compensation package for the incoming executive includes an annual base salary of $1.27 million, supplemented by a cash bonus opportunity set at 125% of that base. According to a filing with the Securities and Exchange Commission, De Cock will also receive a signing equity grant of 30,000 restricted stock units, which are set to vest over a three-year term.