MRC Global Inc., a global distributor of pipe, valves and fittings and other infrastructure products and services to the energy industry, recently announced that Andrew Lane intends to retire as president, chief executive and board member effective December 31, 2021.
“Next year I turn 62,” Lane said. “I will complete my thirteenth year as CEO, and the company will reach it’s 100-year milestone next year. It’s the right time for me to retire. I’m especially proud of helping to build the global PVF distribution leader in the energy industry. It has been an honor to lead our team in achieving a successful initial public offering in April 2012, reaching $5.9 billion in sales in 2014 at the last peak in the oil and gas cycle, successfully addressing the volatile market conditions in recent years and working to build our MRCGO™ digital platform as we continue to position our business into the future.”
“I look forward to continuing to work closely with the board, the executive management team and our dedicated employees over the next 18 months to take the necessary actions in response to today’s low oil and gas price and the Covid-19 external environment to position MRC Global for the eventual recovery in the years to follow.”
In conjunction with the retirement plan, Rhys Best, chairman, said the board of directors will begin a thorough and deliberate CEO selection process.
Through 260 service locations worldwide, 3,350 employees and with nearly 100 years of history, MRC Global provides supply chain solutions and technical product expertise to customers globally across diversified end-markets including the upstream, midstream and downstream sectors.
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