Commercial Metals Company announced that Barbara Smith, the company's President and Chief Executive Officer, will also become the Chairman of the Board, effective January 11, 2018. Smith has been a director since her promotion to Chief Executive Officer on September 1, 2017. Joseph Alvarado, CMC's current Chairman, will be retiring from the Board and Richard Kelson will continue as the company's Lead Director.
"The Board's decision to appoint Barbara as Chairman is a reflection of her leadership and substantial contributions to the company's operating and financial performance since joining the company in 2011," stated Mr. Kelson. "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."