Steel Mills
Siegal Names Marabito Olympic Steel CEO
Written by Sandy Williams
October 1, 2018
Olympic Steel’s Michael Siegal will step down from his role as Chief Executive Officer at the end of the year and transition to Executive Chairman of the Board. Richard Marabito, currently Chief Financial Officer, will assume the role of CEO effect Jan. 1, 2019.
Siegal has served as Olympic CEO since 1984. “It has been a privilege leading Olympic Steel through its transformation from a single-location steel distributor to one of the largest metals service centers in the United States,” he said.
“After a comprehensive succession planning process, the board unanimously selected Mr. Marabito to assume the position of CEO,” Siegal continued. “Rick joined the company as our Treasurer and Corporate Controller in 1994 and has served as CFO for the past 18 years, ensuring this will be a seamless transition. He is undeniably the right person to lead Olympic Steel to new heights.”
Olympic Treasurer Richard A. Manson will succeed Marabito as CFO. Lisa K. Christen will serve as Treasurer, as well as retaining her current role as Corporate Controller. Both changes will be effective Jan. 1, 2019.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
August US mill shipments slip but still higher than last year
The American Iron and Steel Institute reported a decline in the monthly shipments of US mills from July to August.
TransPod, Algoma, Supreme Steel linkup anchors Canadian steel in high-speed transit build
The three Canadian companies have announced a strategic partnership to support the development of an ultra-high-speed transit line from Edmonton to Calgary.
Metallus, USW agree to tentative four-year labor deal
Metallus and the United Steelworkers (USW) have agreed to a tentative four-year labor contract.
ArcelorMittal Dofasco resumes cokemaking after emergency maintenance
The Canadian steelmaker reported on Sept. 30 that “urgent maintenance” was needed in its coke plant off-gas systems. The work required coke oven gas from the No. 2 coke plant to be flared for most of that week.
AISI: Raw steel production ticks back down
US raw steel output declined last week after increasing the week prior, according to the latest data from the American Iron and Steel Institute (AISI). Output has see-sawed from week to week since mid-August. Still, it has remained historically strong over the past four months and has held near multi-year highs since June. Domestic mills […]