MRC Global's chairman of the board is set to retire
Announced on February 11th, the Chairman of the Board for MRC Global will retire upon completion of his term at the annual meeting of the company's stockholders on May 5, 2022. Contingent upon the re-election of Robert L. (Bob) Wood at the same meeting, he will be selected as the next chairman. Bob's experience with MRC was focused on downstream production industries and company financials on the board of directors. As soon as Bob takes office, he will immediately be tested with stabilizing company financials and increasing the share price from unusual lows.
StructuralIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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