MRC Global Names New CEO

Pipe, valves and fittings distribution giant MRC Global announced Tuesday that it has appointed Rob Saltiel as its new president and chief executive officer, succeeding Andrew Lane on March 15. The company previously announced in May of last year that Lane, 61, would retire at the end of 2021. He has been the company's CEO since 2008.

"As a company, we are celebrating our 100th anniversary this year. We are excited to have Rob join MRC Global to lead its growth through the company's next chapter," said Rhys Best, MRC's board chairman. "Rob's distinguished career in the energy sector includes US and international experience in upstream, downstream and power generation, and he has served as a prior CEO of two public companies. Rob is well suited to serve MRC Global's existing customers' businesses and their product needs and to identify and develop new markets and customers as the world transitions its energy infrastructure. We look forward to Rob's leadership of MRC Global and his contributions to our company."

Saltiel will also become a member of Houston-based MRC's board of directors on March 15. He previously was president and CEO of Key Energy Services from August 2018 to December 2019 and held those same titles for nearly 8 years at Atwood Oceanics.

"I am honored to accept the role as MRC Global's next CEO. MRC Global is an excellent company with talented employees, a leading e-commerce platform, a global distribution network, a culture of customer service and a solid balance sheet," Saltiel commented. "I look forward to working from the strong foundation established by my predecessor, Andrew Lane, and to helping our company grow for the benefit of our shareholders, employees, customers and suppliers."

MRC reported its 2020 full-year financial results on Feb. 11, showing that while year-over-year and sequential sales continued to improve since the height of the pandemic's impacts, they were still down by the same considerable deficit that the company had a year earlier. Full-year sales of $2.56 billion were down 30.1 percent from 2019, while the company took a net loss of $274 million. In Q4, total sales of $579 million were down 24 percent year-over-year and down about 1 percent sequentially from Q3. 

MRC said it closed five facilities in Q4 and 27 in 2020, while reducing headcount by 73 in Q4 and 597 in 2020. The company noted that about two-thirds of its recent cost reductions were structural. MRC lowered its operating costs by $113 million in 2020 compared to 2019.

"Andrew Lane is retiring from the company after more than 12 years of dedicated service to the company.," Best added. "The MRC Global board of directors thanks Andrew for his leadership and service. Andrew has led the amazing transformation of our company from the merger of two family-owned, US-focused private companies to today's global leader in the distribution of pipe, valves and fittings to the energy industry. He led the company through its successful IPO in 2012 and its e-commerce evolution as well as many acquisitions to build the company to what it is today. He has also led the company through significant external challenges, including the recent COVID-19 pandemic and its impacts on energy markets. We could not have asked for a steadier hand to lead the company through these volatile times, and we wish Andrew the best in his retirement."

MRC was No. 7 on Industrial Distribution's 2020 Big 50 List.

MRC Global brands itself as the largest distributor of PVF and other infrastructure products and services to the energy industry, based on sales. The company has about 230 service locations worldwide and has around 2,600 employees.