A.M. Castle & Co. announced President Marec Edgar has been named Chief Executive Officer, replacing retiring CEO and board chairman Steve Scheinkman.
Edgar will join Castle's board of directors and Mike Sheehan, currently a director, will assume the board chairman role, the Oak Brook-based company said in a statement. Scheinkman will remain on Castle's board, serving as a senior adviser to management from time to time at the request of the CEO or chairman.
Edgar, 43, joined Castle in 2014 as vice president and general counsel and then served as executive vice president, general counsel & chief administrative officer from May 2015 until December 2018, when he was promoted to president. Edgar had previously served in roles of increasing responsibility at Gardner Denver, Inc., ending as assistant general counsel and chief compliance officer.
He earned his undergraduate degree from MacMurray College and a Juris Doctor from the University of Illinois.
"Marec's appointment as CEO is the culmination of an intentional, yearlong process that our board, including Steve, initiated late in 2018 with Marec's appointment to president," Sheehan said.
Sheehan notes the company has improved profitability while reducing its revolving debt by more than $6 million.
"These and other achievements in a difficult industry environment made the choice to appoint Marec CEO an easy one for our board," he added.
Founded in 1890, A.M. Castle is a distributor of metal and supply chain services serving a number of Fortune 500 companies.