August 28, 2008
Ryerson Names Stephen Makarewicz CEO
Ryerson Inc. today announced that Stephen Makarewicz, a veteran of the metals distribution industry, has been appointed Chief Executive Officer (CEO). Makarewicz had been serving as the company's president and chief operating officer (COO) since Ryerson announced the initial steps of a comprehensive reorganization in October 2007. Makarewicz has been with Ryerson for 25 years and was president of Ryerson's southern region from 2000-2007.
Ryerson, the nation's leading distributor and processor of metals in North America, was acquired in October 2007 by Platinum Equity, a buyout firm that specializes in complex operational turnarounds. Since the acquisition, Platinum and Ryerson have focused on executing a series of initiatives to make Ryerson stronger, more nimble and a better service provider for customers.Robert Archambault, a partner at Platinum Equity who has been serving as Ryerson's interim CEO, noted that finding the right leader was a critical component of the broader turnaround effort, and Archambault believes Makarewicz is ideal for the job.
"Steve has the perfect blend of experience, vision and operational expertise to lead Ryerson into a new era for the company," Archambault said. "His unrelenting commitment to Ryerson employees, customers and business partners is already translating into improvements in company performance. It is an exciting time and we are confident Steve is the right person to lead the way."
Makarewicz said that as CEO he will remain strongly focused on Ryerson's turnaround plan.
"This is a pivotal time for the company and I am truly grateful for the opportunity to serve alongside thousands of dedicated Ryerson employees," said Makarewicz. "We are already making progress charting a new course, but much work remains. We must stay focused on improving customer service, achieving operational excellence and increasing profitability. Our future is in our own hands and I believe that future is very bright."
The company did not immediately name someone to succeed Makarewicz as president and COO. The company expects to conduct a search and will announce a successor accordingly.
Makarewicz first started in the metals distribution industry as vice president, finance with J. M. Tull Metals Company, Inc. in 1983 after leaving a position as first vice president of the Trust Company of Georgia.
Makarewicz received a degree in finance from the University of Central Florida and served four years in the United States Navy. He and his wife Edie have two adult children.
About Ryerson Inc.
Ryerson Inc. is a leading distributor and processor of metals in North America, with 2006 revenues of $5.9 billion. The Company services customers through a network of service centers across the United States and in Canada, Mexico, India and China.
About Platinum Equity
Platinum Equity (www.platinumequity.com) is a global M&A&O(R) firm specializing in the merger, acquisition and operation of companies that provide services and solutions to customers in a broad range of business markets, including information technology, telecommunications, logistics, metals services, manufacturing and distribution. Since its founding in 1995 by entrepreneur Tom Gores, Platinum Equity has acquired more than 80 businesses with more than $27.5 billion in aggregate revenue at time of acquisition.