Samuel Son & Co., Limited, SSCL, announces major Executive transition

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Jun 06, 2013, 12:05 ET

MISSISSAUGA, ON, June 6, 2013 /PRNewswire/ - Samuel Son & Co., Limited, (Samuel), announced today a major up-coming transition at the top of its executive ranks. After almost forty years with the Samuel Organization, Mr. Wayne K. Bassett will be retiring from his role as CEO later this summer. Mr. Bassett will be assisting in the transition to his successor and will remain available to support the organization as requested after his departure.

A protégé of the late Ernest Samuel, Mr. Bassett, 66, has been CEO of Samuel since 2000. Before that he served in various financial and strategic roles and was President of the company from 1995 to present. Mr. Bassett has been a leader within the Service Center industry throughout his career, serving on the CSSCI and then MSCI Boards for over 30 years and serving on the Executive Committee for over 15 years. In 2007, Mr. Bassett was named Steel Executive of the Year by Metal Center News.

During Mr. Bassett's tenure with Samuel, the organization has grown from 5 locations to over 108 and its sales have grown from $60 Million to over $3.5 Billion. "Wayne's achievements and legacy are massive. We owe him a huge debt of gratitude for his vision, leadership and performance throughout the years." stated Chairman Samuel. "Wayne has helped to professionalize our organization and has created a high performance culture. The excellent executive team that he has developed has allowed us to perform consistently well and has fostered an environment of respect within the industry. The relationships and depth of talent that Wayne has cultivated will serve us well into the next stage of our growth. While we regret that Wayne's era is drawing to a close we wish to express our sincere appreciation for all that he has done for the company."

Succeeding Mr. Bassett as CEO will be Mr. William "Bill" Chisholm. Mr. Chisholm, born and educated in Ontario, has spent his entire career to date with Dofasco and then ArcelorMittal, gaining industry experience around the world. From 1980 to 2001 Mr. Chisholm served in a number of increasingly senior operations roles at Dofasco which culminated in his appointment as President, Tubular Products Division through 2007. Promoted to the position of Chief Operating Officer, ArcelorMittal Tubular Products in 2007, Mr. Chisholm integrated the North American operations of Dofasco with the assets of Mittal Steel creating a global business. He was responsible for three business units operating 26 plants in 13 countries and four continents and employing over 10,000 employees. Most recently, Mr. Chisholm served as Chief Executive Officer, ArcelorMittal Mexico from 2009 to present. He was responsible for a very substantial mining and metals business, including the largest integrated steel mill in Mexico producing four million tons of products for the global market.

"We were thrilled by the calibre of candidates that came forward during our succession search." explained Chairman Samuel. "The Succession Committee and the Board did an excellent job on behalf of the company. In the end, Bill's demonstrated track record of success and international exposure, coupled with his passionate focus on process improvement and management training and development set him apart however. I am confident that Bill's engaging style and his stated desire to preserve and build upon the Samuel legacy will dovetail well with our organization."

Samuel, Son & Co., Limited is a 5^th generation family owned business founded in 1855 and is the 4^th largest metal processor and distributor in North America. Samuel is also a major industrial manufacturer of metal and related products. Samuel offers a full range of value added processing services and a complete range of carbon, stainless and aluminum products in all shapes and forms. Samuel employs in excess of 5,000 people at over 108 Service Centers and Manufacturing plants in Canada, the United States, Mexico, the UK, and China. www.samuel.com

SOURCE Samuel Son & Co., Limited