Commercial Metals Company Announces Appointment of John R. McPherson to Board of Directors

Rhea-AI Summary

Commercial Metals Company (NYSE: CMC) announced the appointment of John R. McPherson to its Board of Directors, effective March 15, 2022. McPherson brings over 30 years of experience, including roles at Vulcan Materials Company as Chief Financial & Strategy Officer. His strong financial background is expected to aid CMC in advancing its position in the construction materials market. With his addition, the board will consist of 9 members, 8 of whom are independent. McPherson holds a Bachelor of Arts in Economics and an MBA from Stanford University.

Positive

• John R. McPherson brings over 30 years of experience, enhancing the board's expertise.
• His leadership experience in the manufacturing and construction materials sector may provide valuable insights.
• The board now consists of 9 members, 8 of whom are independent, strengthening governance.

Negative

• Concerns may arise regarding continuity and experience gaps within the Board.

IRVING, Texas, Jan. 18, 2022 /PRNewswire/ -- Commercial Metals Company (NYSE: CMC) today announced that it has named John R. McPherson to the Board of Directors, effective March 15, 2022.

Mr. McPherson brings more than 30 years of professional experience to CMC's Board and currently sits on the Board of Directors for Forterra, Inc. He previously served in multiple executive positions at Vulcan Materials Company, most recently as Chief Financial & Strategy Officer. Prior to that, he held several roles of increasing responsibility with McKinsey & Company and Goldman, Sachs & Co.

"We are pleased to welcome John to our Board of Directors," said Barbara R. Smith, Chairman of the Board, President, and Chief Executive Officer. "His strong financial and strategic background, including leadership experience in the manufacturing and construction materials space, will benefit our company as we continue to create an unparalleled provider of reinforcement solutions to the domestic and international construction markets."

McPherson's appointment will bring the total number of directors to 9, 8 of whom are independent.

Mr. McPherson received a Bachelor of Arts in Economics and a Master's in Business Administration from Stanford University.

About Commercial Metals Company
Commercial Metals Company and its subsidiaries manufacture, recycle and fabricate steel and metal products, and provide related materials and services through a network of facilities that includes seven electric arc furnace ("EAF") mini mills, two EAF micro mills, one rerolling mill, steel fabrication and processing plants, construction-related product warehouses and metal recycling facilities in the United States and Poland.

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SOURCE Commercial Metals Company

FAQ

Who is John R. McPherson and what is his role at CMC?

John R. McPherson has been appointed to the Board of Directors of Commercial Metals Company, effective March 15, 2022.

What experience does John R. McPherson bring to CMC?

McPherson brings over 30 years of experience, including roles in executive positions at Vulcan Materials Company and consulting firms.

How many members are on the Board of Directors at CMC after this appointment?

The Board of Directors will consist of 9 members, with 8 being independent.

What potential impact could McPherson's appointment have on CMC?

His background in financial and strategic leadership could provide valuable guidance as CMC aims to strengthen its market position.