IDG narrows CEO search to two candidates

By Industrial Distribution Staff -- Industrial Distribution, 10/1/1999

ATLANTA--Industrial Distribution Group, which has been without a chief executive officer since March, has narrowed its list of candidates to two. According to sources familiar with the firm, the two candidates were going through final interviews last month, and IDG expected to name a successor to Marty Pinson sometime during the fourth quarter.

Pinson left the firm unexpectedly in March after spending two years as CEO. In the interim, chairman Richard M. Seigel has served as acting chief executive officer. Despite the eight-month lapse since Pinson departed, one industry analyst familiar with the company doesn't think the absence of a full-time CEO has hurt the company.

"It can take up to a year [to find a new chief executive], so it's not that unusual," said the analyst. "Since Rich Seigal has taken over, he's been doing a lot and pushing forward, so I don't think the company has suffered. With the exception of the automotive and truck markets, the industrial economy is still weak and there may be no upturn until early 2000 at the least. That's masking any improvements IDG may be making on the inside right now."

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