Schnitzer Steel Industries Appoints Tamara Lundgren As Chairman

(RTTNews) - Schnitzer Steel Industries Inc. (SCHN) said that it has appointed Tamara Lundgren to succeed John Carter as Chairman of the Board, effective as of March 27, 2020.

Lundgren will continue to serve as Schnitzer's President and Chief Executive Officer, a role she has held since December 2008.

Carter will continue to serve as a member of the Board and will serve as Chairman Emeritus until the January 2021 annual meeting.

Wayland Hicks will continue in his role as Lead Independent Director.

The company also announced that it will transition from its multi-divisional organizational structure to a functionally-based, integrated operating model.

The company noted that it will consolidate its operations, sales, services and other functional capabilities at an enterprise level.

The company expects to transition to the new operating model during the remainder of fiscal 2020.