MRC Global Announces Chairman of the Board Succession
MRC Global Inc. announced the retirement of Chairman Rhys J. Best, effective after the company's annual stockholder meeting on May 5, 2022. Best has served on the board for 15 years, contributing significantly to MRC's IPO in 2012. The board has nominated Robert L. Wood as the new Chairman, contingent on his re-election. Wood has been a board member since 2015 and serves as the chairman of the compensation committee. The transition aims to leverage Wood's experience in the downstream industry to benefit MRC Global's future operations.
- Transition to Robert L. Wood as new Chairman may enhance strategic direction.
- Robert L. Wood's experience with the company and industry could provide valuable insights.
- None.
HOUSTON, Feb. 11, 2022 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE: MRC) announced today that its Chairman of the Board, Rhys J. Best, will retire upon completion of his term as a director at the annual meeting of the company’s stockholders scheduled for May 5, 2022. The Board of Directors of MRC Global has selected Robert L. (Bob) Wood to be its next Chairman of the Board, effective and contingent upon his re-election as a director at the annual meeting.
Rob Saltiel, President & CEO and board member of MRC Global, stated, “We thank Rhys for his 15 years of dedicated service to MRC Global and his significant contributions to the company through his role as a board director. Rhys joined our board in 2007 while we were a private company, and his tenure has notably included the formation of MRC Global and our initial public offering on the New York Stock Exchange in 2012. Rhys has previously served as chairman of the board’s compensation committee and as lead director, and he was elected as our first independent Chairman of the Board in 2016. We are grateful for the leadership and counsel Rhys has provided and wish him the very best in his retirement from our board."
Mr. Saltiel continued, "We are excited to announce Bob Wood as our next Chairman of the Board beginning in May upon his re-election. Bob joined our board in 2015 and has been serving as chairman of the board’s compensation committee since 2016. Bob’s experience with MRC Global and his deep knowledge of the downstream industry will be greatly beneficial to our company as our new Chairman of the Board."
About MRC Global Inc.
Headquartered in Houston, Texas, MRC Global (NYSE: MRC) is the leading global distributor of pipe, valves, fittings (PVF) and other infrastructure products and services to diversified end-markets including the gas utilities, downstream, industrial and energy transition, upstream production, and midstream pipeline sectors. With over 100 years of experience, MRC Global has provided customers with innovative supply chain solutions, technical product expertise and a robust digital platform from a worldwide network of 220 locations including valve and engineering centers. The company’s unmatched quality assurance program offers 200,000 SKUs from 10,000 suppliers, simplifying the supply chain for over 12,000 customers. Find out more at www.mrcglobal.com
Contact:
| Monica Broughton |
| Investor Relations |
| MRC Global Inc. |
| Monica.Broughton@mrcglobal.com |
| 832-308-2847 |
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/750e4463-eca4-4992-a464-c7aae881745c
https://www.globenewswire.com/NewsRoom/AttachmentNg/ba861c44-d85d-46cc-894e-f8c146987cda
FAQ
Who is the new Chairman of MRC Global as of May 2022?
When will Rhys J. Best retire from MRC Global?
How long has Rhys J. Best served on MRC Global's board?
What contributions did Rhys J. Best make during his tenure at MRC Global?
What position does Robert L. Wood currently hold at MRC Global?
