IRVING, Texas, Aug. 30 /PRNewswire-FirstCall/ -- Commercial Metals
Company (NYSE: CMC) today announced that Stanley A. Rabin, Chairman of the
Board of Directors, has announced his intent to retire at the end of CMC's
2008 fiscal year on August 31, 2008. Rabin, age 69, has served as Chairman
since 1999. Over his 37 year career with CMC, Rabin has held a number of
executive positions including President since 1978 and Chief Executive
Officer from 1979 through 2006. Mr. Rabin has been a director of CMC since
1979, a position he intends to relinquish upon retirement. Mr. Rabin has
also been and remains active in numerous charitable and civic
organizations.
Mr. Rabin commented on the decision, "It is appropriate and timely for
your Company to continue with its succession plan, and I am delighted that
we have in place an outstanding management team. Shareholder value has
grown dramatically. Moreover, CMC has an extraordinary track record through
many and varied economic and business cycles, including 30 consecutive
years of profitability and record results over the past several years. And
the Company's future is bright."
Anthony A. Massaro, Lead Director, spoke for the Board stating, "Stan
has been an invaluable leader on CMC's management team for over three
decades. The Company is fortunate to have had such an insightful, wise and
steady hand at the helm for so many years. Much of the Company's growth and
success in recent years is directly attributed to Stan's involvement. His
role in keeping CMC's domestic strategic objectives on target while
simultaneously exploring global opportunities has positioned the Company
for even more success in the future. Stan will be leaving a strong
management team in place to build on his accomplishments."
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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