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
Nucor carbon targets certified by GSCC
Nucor’s “ambitious” carbon targets by the end of the decade and beyond have been certified by the Global Steel Climate Council (GSCC). The Charlotte, N.C.-based steelmaker used a base year of 2023 for its science-based emissions targets (SBET). It set an SBET of 0.975 metric tons (mt) of CO2 emissions per mt of hot-rolled steel […]
SSAB halts talks with Feds on Miss. green steel plant
The Department of Energy's Industrial Demonstrations Program page states that it is no longer moving forward with SSAB.
Cleveland-Cliffs CEO seeks ‘American solution’ for U.S. Steel
He said a new entity would operate under the U.S. Steel name and would retain its Pittsburgh headquarters.
Cliffs, Nucor could buy U.S. Steel: Report
Cleveland-Cliffs could be teaming up with Nucor to make a play for U.S. Steel, according to an article at CNBC.
Biden extends deadline for unwinding Nippon/USS deal to June
The Biden administration has pushed back until June the date for which Nippon Steel must unwind its $14.9-billion dollar deal for Pittsburgh-based U.S. Steel, the companies said on Saturday.