Strategic Addition to Leadership Team
Olympic Steel, a prominent national metals service center,has strategically enhanced its board composition with the election of Peter J.Scott during the company's Annual Meeting on May 2, 2025. Scott bringsextensive expertise in both metals and finance sectors, positioning him as avaluable asset for the company's growth initiatives. Michael D. Siegal,Executive Chairman of Olympic Steel, expressed confidence in the newappointment, noting that "Peter has a long and storied career in both themetals and finance communities. His expertise will help guide our future growthinitiatives in order to enhance shareholder value." The chairmanparticularly highlighted Scott's knowledge of global markets as especiallybeneficial "in these volatile times," suggesting that hisperspectives will provide fresh insights into the markets currently served byOlympic Steel.
Distinguished Financial Background
Scott's credentials in the financial sector areparticularly impressive, with a career spanning multiple prestigiousinstitutions and specialized roles within the metals industry. He foundedHeadwall Partners in 2016, an independent investment banking firm specificallyfocused on the metals and mining industries, where he currently serves asManaging Partner. Prior to establishing his own firm, Scott held severalhigh-profile positions at major financial institutions. At Jefferies Group LLC,he served as Managing Director and Americas Head of Industrials, whilesimultaneously holding the positions of Global Head of Steel & Metals andAmericas Head of Mining. His experience also includes a tenure at MorganStanley, where he worked as Executive Director and Americas Head of Metals.This extensive background in financial leadership roles specific to the metalssector makes him particularly well-suited to guide Olympic Steel's financialstrategy and growth initiatives.
Rippey's Decade of Service
As Scott joins the board, Olympic Steel also acknowledgesthe significant contributions of departing director Michael G. Rippey, who hascompleted a decade of service to the company. Rippey, who joined OlympicSteel's Board in 2015, has been an active participant in the company'sgovernance structure, serving on the Nominating and Governance Committee and asChairman of the Audit and Compliance Committee. His departure marks the end ofa substantial period of service during which Olympic Steel navigated variousmarket challenges and opportunities. Executive Chairman Siegal expressedgratitude for Rippey's contributions, stating, "It has been a privilege towork with Mike Rippey. We thank him for his dedication to Olympic Steel and ourshareholders." This transition represents a significant change in theboard's composition after a period of stability in its leadership team.
Key Takeaways:
• Peter J. Scott, founder and Managing Partner of HeadwallPartners, has been elected to Olympic Steel's Board of Directors, bringingextensive metals industry and financial expertise including previous leadershiproles at Jefferies Group LLC and Morgan Stanley.
• Long-time director Michael G. Rippey has retired fromOlympic Steel's board after 10 years of service, during which he served on theNominating and Governance Committee and as Chairman of the Audit and ComplianceCommittee.
• Olympic Steel Executive Chairman Michael D. Siegalspecifically highlighted Scott's "knowledge of global markets, especiallyin these volatile times" as valuable for guiding the company's futuregrowth initiatives and enhancing shareholder value.
