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Ryerson Initiates CEO Succession Planning
05/28/2010 - Ryerson begins succession planning in anticipation of the retirement of Chief Executive Officer Stephen E. Makarewicz prior to the end of 2012.
Ryerson Inc. has begun succession planning in anticipation of the retirement of Chief Executive Officer Stephen E. Makarewicz prior to the end of 2012.
Makarewicz, 63, has been CEO and President of the company since August 2008, after serving in a variety of other executive roles. He informed the company that he intends to retire by age 65.
"By announcing his plans well in advance, Steve has given us an opportunity to conduct a comprehensive and thoughtful succession planning process," said Ryerson director Robert L. Archambault, who preceded Mr. Makarewicz as the company's chief executive. Archambault, who also is a partner with Platinum Equity, Ryerson's largest shareholder, said a global search is now underway.
"We're working now to identify the strongest and best candidate to lead Ryerson into the future,” added Archambault. “Once that is completed, we will effect a seamless handoff that ensures an orderly transition."
Ryerson director Jacob Kotzubei, also a partner at Platinum Equity, said the process would emphasize stability in transitioning from Makarewicz to his successor.
"Steve has been a great asset as we worked together to achieve significant operational efficiencies over the last two and half years," said Kotzubei. "We greatly appreciate his service and his commitment to a smooth transition."
Specific timing for the transition is to be announced at a future date.
Ryerson is a leading North American processor and distributor of metals, with operations in the United States, Canada and Mexico, as well as in China. The company distributes and processes various kinds of metals, including stainless and carbon steel and aluminum products.
