ALJ Regional Holdings Announces Management Restructure
02/21/2013 - ALJ Regional Holdings has announced changes in its management structure as a result of its divestiture of Kentucky Electric Steel to Optima Specialty Steel.
ALJ Regional Holdings, Inc. announced that its Board of Directors has appointed Jess Ravich to serve as executive chairman of ALJ. As executive chairman, Mr. Ravich will serve as both chairman of the board and an officer of ALJ. John Scheel, who has served as the company’s chief executive officer, will continue to serve as a director, but will step down from his responsibilities as chief executive officer at the request of Optima Specialty Steel, Inc., which purchased KES Acquisition Company from ALJ in February 2013. KES Acquisition Company was ALJ’s sole operating asset and is engaged in the manufacture of SBQ and MBQ steel products. For several years, Mr. Scheel has also served as chief executive officer and general manager of KES. In connection with its acquisition of KES, Optima asked Mr. Scheel to continue in his role as general manager of the mill but to step down from his role as CEO of ALJ to avoid any perceived conflicts of interest. Accordingly, until ALJ appoints a new chief executive officer, Mr. Ravich will serve as the senior executive officer of ALJ.
