Olympic Steel Inc. (Nasdaq: ZEUS), a leading national metals
service center, today announced Raymond Walker, President and Chief
Operating Officer - Flat Rolled will retire in 2017, following 30 years
of service with the Company.
Walker, 68, started working in the steel industry in 1970. He joined
Olympic Steel in 1986 and was promoted to numerous management roles with
increasing responsibility until assuming his current position in 2013.
Walker will remain with the Company through March 2017 to ensure a
seamless transition.
"Our largest sales volume segment remains carbon flat products. During
Ray's tenure, we have experienced substantial growth in facilities,
processing capabilities, and sales volume, resulting in record high
market share for carbon sheet and plate products," said Michael Siegal,
Chairman and Chief Executive Officer. "We wish Ray a long, healthy and
happy retirement. His record of accomplishment reflects our corporate
values of loyally serving customers and the community."
John Mooney will succeed Walker as President and Chief Operating Officer
- Flat Rolled effective Jan. 1, 2017. Mooney joined Olympic Steel in
1989 and has served in many roles including Sales Manager, General
Manager - Cleveland and, most recently as Vice President - Eastern
Region. He is a veteran of the U.S. Army and earned a Bachelor of
Science degree in business administration and marketing from
Philadelphia University. Mooney is a past president and active member of
the Northern Ohio Chapter of the Metals Service Center Institute.
Andrew "Andy" Markowitz has been promoted to President - Specialty
Metals, effective Jan. 1, 2017. Markowitz, a 20-year veteran of the
steel industry, founded Integrity Stainless in 2005, which was
subsequently acquired by Olympic Steel in 2010. Since then, sales of
specialty metals have grown to represent 18% of current consolidated
sales, with the Company earning record high market share in the
stainless steel and aluminum, sheet and coil markets. Markowitz was most
recently serving as Vice President, Sales and Marketing - Specialty
Metals.
"Andy Markowitz has been instrumental to our success in growing our
Specialty Metals segment and in diversifying beyond carbon products,"
added Siegal.
"High potential individuals are continually being prepared for
advancement at Olympic Steel," Siegal said. "In addition to supporting
career advancement, management development initiatives enhance the
success of our long-term succession strategy. John and Andy both exhibit
the leadership, operating and business development capabilities
essential to achieving our growth objectives. We congratulate them on
their respective promotions and look forward to their continued
contributions in their new roles."
Mooney and Markowitz will both report to Andrew Greiff, Olympic Steel's
Executive Vice President and Chief Operating Officer.
About Olympic Steel
Founded in 1954, Olympic Steel is a leading U.S. metals service center
focused on the direct sale and distribution of large volumes of
processed carbon, coated and stainless flat-rolled sheet, coil and plate
steel and aluminum products. The Company's CTI subsidiary is a leading
distributor of steel tubing, bar, pipe, valves and fittings, and
fabricates pressure parts for the electric utility industry.
Headquartered in Cleveland, Ohio, Olympic Steel operates from 32
facilities in North America.
For additional information, please visit the Company's website at www.olysteel.com
or www.b2i.us/profiles/investor/ContactUs.asp?BzID=2195
View source version on businesswire.com: http://www.businesswire.com/news/home/20161215005759/en/
IR Contact:
Olympic Steel Investor Relations
Matthew J.
Dennis, CFA, 216-672-0522