IRVING,
Texas, Feb. 16, 2023 /PRNewswire/ -- The
Board of Directors of Commercial Metals Company (NYSE: CMC) ("CMC"
or the "Company") today announced that, as part of the Company's
succession plan, the Board has appointed Peter R. Matt as President, effective as of
April 1, 2023, succeeding
Barbara R. Smith who will remain
Chairman and Chief Executive Officer of the Company. Mr. Matt will
continue to serve on the Board of Directors of the Company, which
he joined in June 2020.
Barbara R. Smith, the Company's
Chairman, President and Chief Executive Officer, stated, "We have
every confidence in Peter as he takes on the role and
responsibilities of President, and his appointment is part of the
Company's succession plan. Peter brings a wealth of financial,
strategic and executive managerial experience, and his leadership
has been excellent during his tenure on the Board of Directors. I
am pleased to transition the role of President of the Company to
Peter. He is a proven leader, and this role shows that Peter has
earned the full confidence of the Board and management."
Mr. Matt is a seasoned global business leader with significant
experience across a range of manufacturing companies in metals and
metals-related industries. Since January
2017, Mr. Matt has served as Executive Vice President and
Chief Financial Officer of Constellium SE, a leading global
aluminum fabrication company. Prior to joining Constellium,
Mr. Matt served as a Managing Partner for Tumpline Capital,
LLC from 2015 to 2016. From 1985 to 2015, he held various
leadership positions with Credit Suisse.
About Commercial Metals Company
Commercial Metals Company and its subsidiaries manufacture,
recycle and fabricate steel and metal products and provide related
materials and services through a network of facilities that
includes seven electric arc furnace ("EAF") mini mills, two EAF
micro mills, one rerolling mill, steel fabrication and processing
plants, construction-related product warehouses and metal recycling
facilities in the United States
and Poland. Through its
Tensar operations, CMC is a leading
global provider of innovative ground and soil stabilization
solutions selling into more than 80 national markets through two
major product lines: Tensar® geogrids and
Geopier® foundation systems.
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SOURCE Commercial Metals Company