LOS ANGELES — Reliance Steel & Aluminum Co. announced Tuesday that the company's Board of Directors has approved an executive leadership succession plan consistent with the company's growth strategy and focus on operational execution.
David H. Hannah, who has served as Reliance's Chief Executive Officer since 1999 and Chairman of the Board and CEO since 2007, has announced his intention to transition from his role as CEO effective May 20 following Reliance's Annual Meeting of Shareholders. Gregg J. Mollins, who currently serves as President and Chief Operating Officer of Reliance, will succeed Mr. Hannah as President and CEO at that time. Mr. Hannah will remain on the company's Board of Directors as Executive Chairman until July 2016 and will remain involved in the company's daily operations until his departure, at which time an independent, non-executive Chairman of the Board will be appointed.
With more than 37 years of experience in the metals industry, Mr. Mollins, age 60, joined Reliance as a Division Manager in 1986. He was appointed Vice President in 1992 and named Vice President and Chief Operating Officer in 1994. The following year, he was promoted to Executive Vice President and Chief Operating Officer. In 2002, Mr. Mollins' responsibilities were expanded even further and he was appointed President and Chief Operating Officer. Mr. Mollins has also served on the company's Board of Directors since 1997.
Reliance also announced several other promotions in connection with its management succession plan, each to take effect concurrently with Mr. Mollins' promotion on May 20:
-- Karla R. Lewis, Reliance's Executive Vice President and Chief Financial Officer since 2002, will be promoted to Senior Executive Vice President and CFO and will continue to lead the company's overall financial operations. Ms. Lewis, who has been with Reliance since 1992, oversees Reliance's accounting, financial planning, capital allocation and investor relations activities.
-- William K. Sales, Jr. will be promoted to the office of Executive Vice President, Operations. Mr. Sales has served as Senior Vice President of Operations since 2002 and oversees the company's non-ferrous operations, including the aerospace, semi-conductor and electronics industries.
-- James D. Hoffman will also be promoted to the office of Executive Vice President, Operations. Mr. Hoffman has served as the company's Senior Vice President of Operations since 2008 and oversees the company's carbon steel and alloy operations, including the energy, auto and non-residential construction industries.
In light of Mr. Mollins' promotion and to ensure appropriate reassignment of some of Mr. Mollins' current operations management duties, effective April 1, Michael P. Shanley, currently President of Liebovich Brothers, Inc., a wholly-owned subsidiary of Reliance, will assume the title of Senior Vice President, Operations. Each of Mr. Sales, Mr. Hoffman, and Stephen P. Koch, Senior Vice President, Operations since 2010, will continue to report to Mr. Mollins. Mrs. Lewis and Mr. Shanley will also report to Mr. Mollins.
