Barbara R.
Smith to Retire as Executive Chairman
Robert S.
Wetherbee Appointed Chairman of the Board of
Directors
Vicki
Avril-Groves to Retire from the Board of
Directors
Tandra Perkins Appointed to the Board of
Directors
IRVING,
Texas, Aug. 2, 2024 /PRNewswire/ -- Commercial
Metals Company (NYSE: CMC) ("CMC" or the "Company") today
announced that Barbara R. Smith, the
Executive Chairman of the Company's Board of Directors (the
"Board"), will retire from such position and from the Board,
effective August 31, 2024. The Board
has appointed Robert S. Wetherbee,
who has served as an independent director on the Board since
March 2023, to serve as Chairman of
the Board, effective September 1,
2024.
Peter R. Matt, the Company's
President and Chief Executive Officer, recognized the valuable
role that Ms. Smith has had in CMC's success. "I am proud and
privileged, on behalf of our Board, to thank Barbara for her years
of exceptional contributions and services to CMC. Under Barbara's
leadership, CMC experienced transformative growth and pursued
innovative strategies."
Mr. Wetherbee commented, "I am honored to be named Chairman of
the Board and look forward to working with Peter and the rest of
CMC's highly-experienced leadership team and my fellow Board
members to build upon the foundation Barbara laid."
In connection with Mr. Wetherbee's appointment, Sarah E. Raiss will resign from her position as
Lead Director of the Board, effective August
31, 2024, but will continue to serve on the Board. "We are
grateful for Sarah's strong leadership and valuable service as Lead
Director over the past two and a half years. I look forward to
continuing to work alongside her," said Mr. Matt.
Additionally, CMC announced that Vicki
L. Avril-Groves will retire from the Board, effective
August 31, 2024.
Mr. Matt commented, "I would also like to thank Vicki for her
service. For nearly ten years, the Board has benefited from her
guidance. We are thankful for her dedication to CMC and will miss
her valuable input as a member of the Board. We wish her well in
her retirement."
The Board has appointed Tandra Perkins to the Board,
effective September 1, 2024. Ms.
Perkins will serve on the Compensation and Finance Committees of
the Board.
Ms. Perkins currently serves as the Senior Vice President and
Chief Digital and Administrative Officer for Phillips 66, a
diversified energy company that is a leading integrated downstream
energy provider. From July 2020 to
October 2022, Ms. Perkins served as
Vice Chair of Growth and Strategy of KPMG in the United States. Prior to this role, Ms.
Perkins held several leadership positions within KPMG during her
21-year tenure, including serving as Managing Partner-in-Charge for
KPMG's Houston Office from
September 2015 to July 2020, Partner and Houston Advisory Office
Leader from June 2014 to August 2015, and Partner from October 2007 to June
2014. Ms. Perkins also serves on the Board of Directors of
Chevron Phillips Chemical Company. Ms. Perkins earned a Bachelor of
Science degree in accounting from Louisiana
State University and a Masters of Business Administration in
information systems from the University of
Houston.
In connection with these changes, the Board determined to
decrease the total number of seats on the Board from ten to nine
directors.
Mr. Wetherbee remarked, "We are pleased to welcome Tandra to our
Board. Her professional experience of nearly 30 years across
multiple industries will provide valuable insights to the
Board."
About CMC
CMC is an innovative solutions provider helping build a
stronger, safer, and more sustainable world. Through an extensive
manufacturing network principally located in the United States and Central Europe, we offer products and
technologies to meet the critical reinforcement needs of the global
construction sector. CMC's solutions support construction across a
wide variety of applications, including infrastructure,
non-residential, residential, industrial, and energy generation and
transmission.
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SOURCE Commercial Metals Company