June 8, 2016

Castle Replaces Board President

A.M. Castle & Co. has reached an agreement with Raging Capital Management LLC on the composition of the company’s board of directors. The Castle board has agreed to appoint Gary Masse as chairman, effective immediately.

Additionally, the board has agreed to nominate Richard N. Burger and Michael Sheehan for election as Class III directors at the company’s annual meeting in July.

Chairman Brian P. Anderson and Director Reuben S. Donnelly will not stand for re-election, though both will continue to serve until the annual meeting.

“The management team is excited to begin to work with our new board members who bring a wealth of experience in successful business transformation,” says Steve Scheinkman, president and CEO of Castle. The Oak Brook, Ill.-based specialty metals distributor has undergone considerable restructuring and cost-cutting to return to profitability since the 2008-09 recession.


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Monday, October 23, 2017