- Push-out Score determined
- After about four years in the position
- Accolades, praise and thanks for Hoffman
- Karla Lewis taking over
- Hoffman said 72 words
(exechange) — Scottsdale, Arizona, October 11, 2022 — This news came shortly after Columbus Day. Jim Hoffman, chief executive of Reliance Steel, leaves. As announced by Reliance Steel & Aluminum Co. in a news release on Tuesday, October 11, 2022, James D. (Jim) Hoffman leaves his post as chief executive officer at the diversified metal products provider, after about four years in the role, effective December 31, 2022.
Jim Hoffman’s duties as CEO will be taken over by Karla R. Lewis, currently President at Reliance Steel & Aluminum Co.
“Strategic, deliberate and well-executed long-term succession planning process”
Jim Hoffman’s departure from the CEO post is explained as follows. Mark V. Kaminski, Reliance’s Chairman of the Board, said: “The Board is also pleased to announce Karla Lewis’ promotion to Chief Executive Officer, which is the result of a strategic, deliberate and well-executed long-term succession planning process.”
Precise information regarding Jim Hoffman’s future plans was not immediately available.
“Step down”
Reliance Steel said: “James D. Hoffman has announced his intention to step down as Chief Executive Officer on December 31, 2022 and, further, that the company’s Board of Directors has unanimously appointed Karla R. Lewis to succeed Mr. Hoffman as CEO effective January 1, 2023.”
Share price increase since January 2019
The announcement follows an increase in Reliance Steel & Aluminum Co.’s share price of 156% since January 2019. January 2019 is the month in which Hoffman’s tenure as CEO began.
In the position of CEO since 2019
Jim Hoffman became CEO of the Company in 2019.
Hoffman will remain on Reliance’s Board of Directors and will continue in his role as CEO through the end of 2022, after which he will serve as Senior Advisor to the CEO until his retirement in December 2023.
James D. Hoffman was appointed a director of Reliance in October 2019 and became Chief Executive Officer in January 2019.
Hoffman also served as the Company’s President from January 2019 until January 2021, when Mrs. Lewis was appointed President.
From March 2016 until his promotion to Chief Executive Officer in January 2019, Hoffman served as the Company’s Executive Vice President and Chief Operating Officer.
Hoffman served as the Company’s Executive Vice President, Operations from May 2015 to March 2016, and as Senior Vice President, Operations from 2008 to May 2015.
Hoffman served as Executive Vice President and Chief Operating Officer of the Company’s subsidiary, Earle M. Jorgensen Company (“EMJ”), from April 2006 to September 2008.
Hoffman was appointed Executive Vice President of EMJ in 2006, having been a Vice President of EMJ since 1996.
Hoffman is a member of the board of directors of the Metals Service Center Institute (“MSCI”).
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Jim Hoffman’s move on a scale of 0 to 10.
exechange reached out to Reliance Steel and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 42.2022 ($).