Effective 1 September, Barbara Smith will take over as chief executive officer, succeeding Joe Alvarado, who will remain as board chairman through the company’s annual meeting in January 2018. Smith also is to join the board of directors.  

"Barbara's promotion into the role and responsibilities of CEO and president is part of the company's long-term succession plan. Barbara has proven her abilities in the many leadership roles she has held in the steel industry and throughout her career," said lead director Richard B. Kelson in a statement. 

Smith joined Commercial Metals as a senior vice president and chief financial officer in May 2011. She was named president and chief operating officer in January 2016. 

"Barbara has had a hand in all of the operational and strategic decisions we have made over the last several years. Under her leadership there is no doubt the company will continue to grow and thrive," Alvarado said. 

Prior to joining Commercial Metals, Smith served as vice president and chief financial officer of Gerdau Ameristeel Corp. Smith also held a variety of leadership roles with Alcoa, where she had worked for more than 20 years.