Ryerson South-East Region President Kevin Richardson to Retire

Rhea-AI Summary

On February 24, 2021, Ryerson Holding Corporation (NYSE: RYI) announced the retirement of Kevin Richardson, President of the South-East Region, effective April 2, 2021, after 36 years with the company. Eddie Lehner, CEO, praised Richardson's contributions to Ryerson's success. Mike Burbach will step in as Chief Operating Officer on the same date. The organizational structure will shift, dividing North America into three regions led by new presidents: Steve Bosway (West), Eric McGill (South), and Jeff Redfield (North). Ryerson operates across the U.S., Canada, Mexico, and China with about 3,900 employees.

Positive

• Kevin Richardson's retirement highlights a successful transition plan within Ryerson, ensuring leadership continuity.
• Mike Burbach's promotion to COO showcases internal talent and experience with 37 years at the company.
• The restructuring into three regional divisions may enhance operational efficiency and strategic focus.

Negative

• None.

CHICAGO, Feb. 24, 2021 /PRNewswire/ -- Ryerson Holding Corporation (NYSE: RYI), a leading value-added processor and distributor of industrial metals, announced today that after more than 36 years of excellence Kevin Richardson will retire from his position as President, South-East Region effective April 2, 2021. Kevin has served as president of the South-East region since 2007 and leaves the role having been an integral part of Ryerson's transformation and instrumental in its financial success. Eddie Lehner, Ryerson's President and Chief Executive Officer said, "Kevin will be tremendously missed once he transitions fully to retirement; however, our succession planning process has been well developed to ensure continuity and continued progress and is a tribute to Kevin and the work we have thoughtfully done together over the years that we have a deep and talented executive group." Mr. Richardson will remain with Ryerson through at least the end of the calendar year supporting the transition of his role to the new regional teams, working on strategic projects and maintaining key customer and supplier relationships.

Mr. Lehner continues, "Where to begin when talking about Kevin Richardson? A mentor, leader, partner, role mode and friend. In Ryerson's 179-year history, Kevin Richardson takes his place among the all-time greats not just within the pantheon of Ryerson but our industry as well. It has been my honor and joy to share the past nine years together building and transforming Ryerson with Kevin. His contributions are too many to mention here, but please know how appreciative we are for every one of them. Kevin has developed so many fantastic relationships throughout his 36 years at Ryerson that you can play the six degrees of separation game for our industry and probably not get past three. I am delighted that Kevin is spending some more time with us in transition, and I wish Kevin and Kathy the best of everything in retirement. That Ryerson porch light and door will always be on and open."

In connection with Mr. Richardson's retirement, Mike Burbach has been named Ryerson's Chief Operating Officer effective as of April 2, 2021. In his new role, Mr. Burbach will be overseeing the company's North American business units. Mr. Burbach enters this role after 37 years with Ryerson, serving the last 13 as president of the North-West region. Mike notes, "I am truly excited to help Ryerson in its continued quest to advance this great company that we have all built together. We know the plan and will continue executing on that vision."

As part of this organizational change, Ryerson North America will be divided into three regions to be led by regional presidents, Steve Bosway (West Region), Eric McGill (South Region) and Jeff Redfield (North Region). Mr. Bosway has been with Ryerson for nearly nine years and brings a wealth of experience from 44 years spent in the metals industry. Mr. McGill joined Ryerson in 1993 and has held many positions of increasing responsibility in sales and management. Mr. Redfield has 28 years of experience at Ryerson and more than 30 years in the metal distribution and production industry.

Ryerson is a leading value-added processor and distributor of industrial metals, with operations in the United States, Canada, Mexico, and China. Founded in 1842, Ryerson has around 3,900 employees in approximately 100 locations. Visit Ryerson at www.ryerson.com.

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SOURCE Ryerson Holding Corporation

FAQ

What is the significance of Kevin Richardson's retirement from Ryerson (RYI)?

Kevin Richardson's retirement marks the end of a 36-year tenure at Ryerson, significant for the company's leadership transition and continuity.

Who is the new Chief Operating Officer of Ryerson after Kevin Richardson's retirement?

Mike Burbach has been named the new Chief Operating Officer of Ryerson, effective April 2, 2021.

How is Ryerson's North American business being reorganized?

Ryerson is reorganizing its North American operations into three regions, each led by new regional presidents.

What impact might the leadership changes have on Ryerson's business strategy?

The leadership changes, including the division into three regions, could enhance Ryerson's operational efficiency and strategic focus.