CHICAGO, Dec. 19, 2014 /PRNewswire/ -- Ryerson
Holding Corporation (NYSE: RYI), a leading distributor and
processor of metals, announced today that President and Chief
Executive Officer Michael C. Arnold
informed Ryerson's Board of Directors of his intent to retire next
year. He has served as Ryerson's president and chief executive
officer since January 2011.
"Mike has been a strong leader for Ryerson and has helped guide
the transformation of the business," said Jacob Kotzubei, a director on Ryerson's board of
directors. "We are grateful for Mike's service over the past four
years. He is an accomplished leader who has had a long and
distinguished career, and we wish him well in retirement."
Prior to joining Ryerson, Mr. Arnold spent over 31 years at The
Timken Company, a global manufacturer of steel, bearings and
related components.
Mr. Kotzubei said that specific timing for a transition has not
yet been determined, though a new chief executive officer could be
in place as soon as Q1 2015. Mr. Arnold has committed to staying on
as long as necessary to ensure a smooth transition.
"We have ample opportunity to conduct a comprehensive and
thoughtful succession planning process," said Mr. Kotzubei. "We
will evaluate a wide range of candidates, both internally and
externally, to identify the best person to lead Ryerson after Mike
steps down."
Mr. Arnold serves on the board of directors of AGCO Corporation,
is a director on The University of
Akron Foundation, as well as a member of The University of Akron's Engineering Advisory Council,
and serves on the Executive Committee of the Metals Service Center
Institute.
He holds a bachelor's degree in mechanical engineering and a
master's degree in sales and marketing, both from The University of Akron.
About Ryerson
Ryerson is a processor and distributor of metals with operations
in the United States, Mexico, Canada, China
and Brazil. The company serves
several industries including oil and gas, industrial equipment,
transportation equipment, heavy equipment and electrical machinery.
Founded in 1842, Ryerson is headquartered in the United States and employs approximately
4,000 employees in more than 100 locations. Visit Ryerson at
www.ryerson.com.
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SOURCE Ryerson Holding Corporation