Ruprich leaves JLK Orwig named president

By Staff -- Industrial Distribution, 10/1/1998

Philadelphia, Pa.--It's been a rocky summer and fall for JLK Direct Distribution. After announcing disappointing results in July, the firm named Richard J. Orwig its new president and chief executive on Sept. 17, replacing Michael W. Ruprich. In a statement, JLK said Ruprich intends to pursue career opportunities elsewhere. However, industry sources say he took the hit for the firm's slowing sales and declining stock price.

At press time, JLK's stock fell 11/2 points, to $11 a share, in early trading after the announcement of the management change. JLK is trading well below its 52-week high of $391/2.

"Mike Ruprich made significant contributions to the success of JLK Direct and Kennemetal during his career," said Robert L. McGeehan, Kennemetal president and chief executive officer in a press release. "We have the utmost confidence in Rick Orwig as he embarks on this new career opportunity and know that all JLK Direct and Kennemetal employees will support Rick's efforts."

Orwig was most recently vice president, chief financial and administrative officer of Kennemetal Inc., which owns 83% of JLK Direct.

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