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Ryerson launches comprehensive reorganization

Ryerson Inc. has announced it has taken the initial steps in a comprehensive reorganization to make the company stronger, more nimble, and a better service provider for customers.

Ryerson, a distributor and processor of metals in North America, was acquired Friday, Oct. 19, in a take-private transaction by Platinum Equity, a buyout firm that specializes in complex operational turnarounds. Oct. 22, Platinum made several key appointments to the company's senior leadership team:

  • Robert Archambault was named interim CEO. He is a partner at Platinum Equity overseeing the Ryerson investment.
  • Stephen Makarewicz was appointed as president and COO. He previously was president of Ryerson South.
  • Terence Rogers was appointed as executive vice president and CFO. He previously was vice president of finance for Ryerson.

As part of the reorganization, Neil Novich, former chairman and CEO, Jay Gratz, former CFO, and Gary Niederpruem, former executive vice president, have left the company.

Further details of the reorganization will be announced in the weeks ahead. In the meantime, "our highest priority is to minimize any disruption to our customers, suppliers and business partners," Archambault said.