SMU Community Chat: Reibus CEO targets focus and execution

SMU subscribers can access a replay of the full conversation and almost every other past Community Chat on our website.

Focus and execution

Reibus has been through a lot in the six years of its existence. After rapid growth as a start-up through the Covid years, the Atlanta-based company has had to adjust its focus. It’s made workforce cuts and office closures and has had three CEOs in less than a year.

Rowe told Cowden he believes Reibus’ investors thoughtfully handled the leadership transition. Founder John Armstrong led the company from concept through creation. Temy Mancusi-Ungaro, in his six or seven months as interim CEO, then helped reset the business and bring its cost structure in line.

In the board’s search for “a more growth-oriented CEO,” that’s where they found him, Rowe said, noting he is “a big believer in focus and execution.”

Shifting focus

Rowe’s mandate now is “to rebuild the business from a growth perspective but do it in a way that is more sustainable and durable.”

That’s why Reibus has narrowed its target customer base, trimmed the kinds of metals it handles, and limited its geographical reach.

Rowe said Reibus was previously very focused on the technology and asking people to use its platform, “as opposed to being focused on how we can leverage our technology to help you solve your problem.”

Having winded down its European operations, the company is now focused on serving solely the US and Mexican markets.

Rowe noted they might be open to opportunities in Canada should they present themselves, but the US and Mexico are its target markets for now.

He said Reibus is now moving forward with a focus on “sustainable, organized, and more thoughtful growth.”

Execute ‘relentlessly and maniacally’

Rowe said that, across the steel industry, service centers carry the most risk regarding inventory. As its platform can help distributors fill holes in or move excess inventory, Reibus is targeting that market.

He said the platform does “a great job of matching supply and demand.”

It facilitates anonymous transactions between customers that may not otherwise occur because of geographical differences or competitive concerns, he explained.

According to Rowe, Reibus’ challenge now is to listen to its customers and “then execute on that relentlessly and maniacally to deliver value” to them and the industry.

Rowe has 20 years of experience helping legacy businesses digitize. He believes that, ultimately and over time, the steel industry will evolve and digitize.

But Reibus is “not here to drive that change. We’re here to help you be successful as it naturally goes through that change,” he said.

“It’s less about trying to get you to change the pace that is not comfortable to you. It’s more about how we use our capabilities to help you,” he said.

SMU Steel Summit

SMU is happy to have Reibus join us once again as a sponsor of the upcoming SMU Steel Summit in Atlanta.

Chris Shipp, president of Reibus and an instructor of SMU’s Steel 101 course, will moderate a Monday morning panel called “Transformations: Riding the Tech Wave – Online Marketplace Trailblazers.” It will be on the Lobby Stage.

Additionally, the Reibus booth is always a fun spot in our exhibition hall, so be sure to stop by!

The conference is just three weeks away! To register or for more information, visit the SMU Steel Summit website.