Samuel Announces Retirement of Mark Samuel as Chairman of the Board

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Apr 15, 2019, 11:53 ET

MISSISSAUGA, ON, April 15, 2019 /PRNewswire/ - The Board of Directors of Samuel, Son & Co., Limited (SSCL) announces today that Mr. Mark Samuel is retiring as Chairman of the Board, effective August 27, 2019, following thirteen years of service in this role and that Mr. John Caldwell, currently SSCL Lead Director, is appointed as the new Chairman effective the same date. Mr. Samuel will continue to serve on the Board.

"For over three decades it has been my honour and pleasure to work at Samuel and to help it to grow into the largest and most successful family-owned metals distribution, processing and fabrication company in North America," stated Mr. Samuel. (Mr. Samuel joined the company in 1986 and served in increasingly senior roles including as President, CEO and Chairman of Samuel Manu-Tech Inc., before being named Chairman of SSCL in 2006.) "It has been a privilege to lead the organization as Chairman and I appreciate the support of my fellow Board members over the years, including now, in my decision to step down as Chairman. While I intend to stay close to the firm and my many friends here and throughout the industry, I also very much look forward to finally having more time to devote to my active young family. I have every faith that the future of the firm is in good hands with John and our incredible leadership team."

"It has been a privilege to have worked with Mark as our Chairman since I arrived in 2013 and to have been a recipient of his counsel, guidance and leadership," stated CEO, Bill Chisholm. "Samuel is a true Canadian, family-owned success story with a deep history of family values, innovation and success dating back to 1855. We have such an exciting future ahead of us and I am confident that John will help us to continue to build on our success."

"I would like to thank Mark on behalf of our family for his dedication and commitment to Samuel," said Kim Samuel. "Mark has represented our family at the helm of Samuel with integrity and vision for many years. I look forward to collaborating with Mark, Rick Balaz and the sixth generation of our family as strong and engaged owners of Samuel to preserve our momentum, our culture and our values." Mr. Balaz added, "The change to an independent Board Chairman is aligned with our commitment to maintain strong corporate governance for our family business."

Mr. Caldwell joined Samuel's Board in 2006. "I am honoured to be named as the next Chairman of Samuel's Board," said John Caldwell. "It is an exciting time to be part of Samuel as we execute on our transformative strategy to continue to strengthen and grow our businesses. I would like to thank Mark and to recognize him for his leadership and for his continuing contributions to our company."

About Samuel
Founded in 1855, Samuel, Son & Co., Limited, is a family-owned and operated, integrated network of metal manufacturing, processing and distribution divisions. With over 5,000 employees and 100+ facilities, Samuel provides seamless access to metals, industrial products and related value-added services. We leverage our industry expertise, breadth of experience and the passion of our people to help drive success for North American business – one customer at a time. For more information, visit www.samuel.com.

SOURCE Samuel Son & Co., Limited