Irving, Texas-based steelmaker and metals recycling company Commercial Metals Company (CMC) announced Thursday that Joseph Alvarado, its CEO and President, will also become the Chairman of the Board, effective January 1, 2013. Anthony Massaro, CMC's current Chairman, will become the company's Lead Director at that time.
"The Board's decision to appoint Joe as Chairman is a reflection of his substantial accomplishments during the past year in improving the Company's operating and financial performance," stated Massaro. "The appointment will also promote unified leadership for the Company, allowing for a single, clear focus for management to execute its strategy and business plans."