IRVING, Texas, April 17 /PRNewswire-FirstCall/ -- Commercial Metals
Company (NYSE: CMC), headquartered in Irving, Texas, announced today the
election of Robert L. Guido to its Board of Directors. With this action,
the CMC board will increase from ten to eleven directors. Guido will serve
for a term to expire at the annual meeting of stockholders scheduled to be
held in January 2008, at which time it is anticipated he will be included
with the slate of nominees submitted for election by stockholders.
Guido recently retired from Ernst & Young following a 38-year career
with the firm. He served as Vice Chair and CEO of Ernst & Young's Assurance
and Advisory Practice. In this role, Guido was responsible for overall
business strategy and had significant dealings with both the Securities and
Exchange Commission (SEC) and the Public Company Accounting Oversight Board
(PCAOB) on behalf of the firm. Guido also co-chaired the firm's Global
Client Steering Committee and served as a senior advisory or engagement
partner to numerous global companies.
In announcing the election, Stanley A. Rabin, Chairman of the Board,
said, "Bob brings to the CMC board a unique background of accounting and
financial expertise, international experience with several global clients
and senior policy positions while at Ernst & Young. His considerable
experience in various SEC and PCAOB matters will provide valuable insight
and assistance to our Board and management. We are extremely pleased to be
able to attract a director of this caliber to our Board."
Murray McClean, President & Chief Executive Officer, added, "We welcome
Bob and look forward to his immediate contributions. His experience
advising a broad array of companies and businesses with significant
international operations will bring new perspectives to CMC's challenges
and opportunities. Our entire management team looks forward to his
experienced guidance with our overall business direction and execution."
Guido will serve as a member of the Audit Committee and Nominating and
Corporate Governance Committees of the CMC Board. The Board has
affirmatively determined that Guido is "independent" as required by the
Sarbanes-Oxley Act of 2002 and applicable listing requirements of the New
York Stock Exchange (NYSE) and is eligible and qualified to serve on the
Audit Committee of the Board. Guido is also a director and chairs the Audit
Committee of Bally Technologies, Inc., a NYSE-listed company.
Commercial Metals Company and subsidiaries manufacture, recycle and
market steel and metal products, related materials and services through a
network including steel minimills, steel fabrication and processing plants,
construction-related product warehouses, a copper tube mill, metal
recycling facilities and marketing and distribution offices in the United
States and in strategic overseas markets.
SOURCE Commercial Metals Company
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Related links:
http://www.cmc.com
CONTACT:
Debbie Okle, Director, Public Relations of
Commercial Metals Company, +1-214-689-4354
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