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Russel Metals Inc.: Russel Metals Names New Leadership

  //house-home.news-articles.net/content/2008/12/2 .. tals-inc-russel-metals-names-new-leadership.html
  Published in House and Home on Monday, December 22nd 2008 at 11:53 GMT, Last Modified on 2008-12-22 11:53:52 by Market Wire
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TORONTO, ONTARIO--(Marketwire - Dec. 22, 2008) - Russel Metals Inc. (TSX:RUS) - Anthony F. Griffiths, Chair of the Board of Directors of Russel Metals Inc., announced today that Brian R. Hedges will succeed Edward M. (Bud) Siegel as President and Chief Executive Officer, effective May 12, 2009. Mr. Siegel, who has led Russel Metals since 1997, will retire on that date.

Mr. Hedges joined Russel Metals as Chief Financial Officer in 1994 and is currently Executive Vice President and Chief Operating Officer.

"Bud and Brian have had an extremely complementary and effective partnership in the management and operation of the Company for more than a decade", said Anthony F. Griffiths, Chair of the Board of the Company. "Brian has played a major role in every important initiative of the Company over that period, and is uniquely qualified to assume the CEO role on Bud's retirement".

Mr. Griffiths further commented, "Under Bud Siegel's leadership Russel Metals has experienced outstanding growth in profitability and total shareholder return, and has solidified its position as one of North America's leading metals distribution companies. Bud has also assembled an outstanding management team, both at the corporate level and within the Company's many operating units, and paved the way for a natural and successful management transition."

Russel Metals is one of the largest metals distribution companies in North America. It carries on business in three distribution segments: metals service centers, energy tubular products and steel distributors, under various names including Russel Metals, A.J. Forsyth, Acier Leroux, Acier Loubier, Acier Richler, Arrow Steel Processors, B&T Steel, Baldwin International, Comco Pipe and Supply, Fedmet Tubulars, JMS Russel Metals, Leroux Steel, McCabe Steel, Megantic Metal, Metaux Russel, Metaux Russel Produits Specialises, Milspec Industries, Norton Metals, Pioneer Pipe, Russel Metals Specialty Products, Russel Metals Williams Bahcall, Spartan Steel Products, Sunbelt Group, Triumph Tubular & Supply, Wirth Steel and York-Ennis.