August 30, 2008

Platinum announces new team for Ryerson

Ryerson Inc announced that it has taken the initial steps in a comprehensive reorganization to make the company stronger, more nimble and a better service provider for customers.

Its new owner Platinum made following key appointments
1. Mr Robert Archambault was named Interim CEO. Mr Archambault is a partner at Platinum Equity overseeing the Ryerson investment.
2. Mr Stephen Makarewicz was been appointed as president & COO. Mr Makarewicz was previously President of Ryerson South.
3. Mr Terence Rogers was appointed as executive VP and CFO. Mr Rogers was previously VP finance for Ryerson.

Mr Neil Novich former chairman & CEO, Mr Jay Gratz former CFO and Mr Gary Niederpruem former EVP, have left the company.

Mr. Archambault said ‘Our highest priority is to minimize any disruption to our customers, suppliers and business partners. The change in ownership and reorganization gives us an opportunity to build even stronger working relationships with all of our business partners. I have encouraged every Ryerson employee to focus on improving service as our highest priority."
Ryerson, US's leading distributor and processor of metals in North America, was acquired in a take private transaction by Platinum Equity, a buyout firm that specializes in complex operational turnarounds.