Olympic Steel’s Richard T. Marabito Tapped as “CFO of the Year” by Crain’s Cleveland Business
October 25, 2013 07:00 AM Eastern Time
CLEVELAND, Oct. 25, 2013 (GLOBE NEWSWIRE) — Olympic Steel, Inc.,(Nasdaq:ZEUS), a national metals service center, today announced Richard T. Marabito was selected as the 2013 CFO of the Year in the medium-size public company category by Crain’s Cleveland Business.
Mr. Marabito has been Olympic Steel’s chief financial officer since 2000. He joined the Company in 1994 and previously served as corporate controller and treasurer.
The CFO of the Year award is an annual honor bestowed by Crain’s on regional chief financial officers who have demonstrated meaningful contributions to the success of their organizations through leadership, ethics, measurable growth metrics, handling challenges, civic contributions and strategic transactions. This year’s award winners were announced at a sold-out gala event on October 22, 2013.
“Rick is much more than ‘CFO of the Year’,” commented Chairman and Chief Executive Officer Michael D. Siegal. “His financial stewardship has been critical to the Company’s substantial growth as we diversified the business into new products and services, and expanded into new geographic markets. This growth has required successfully managing through multi-year market cycles, numerous long-term capital projects and transformative acquisitions.
“Being a custodian of shareholder assets is something he takes pride in, and we are fortunate and honored to have someone with his sage judgment leading Olympic Steel’s financial management. The only quality more impressive than Rick’s professional acumen is his personal character,” Mr. Siegal concluded.
Mr. Marabito is also a member of the Metal Service Center Institute Board of Directors and a governing board member and the treasurer of the Make-A-Wish Ohio, Kentucky and Indiana chapter. He also serves on the board of trustees of Hawken School where he is treasurer and earned his Bachelor of Arts degree in accounting at Mount Union College and is a Certified Public Accountant-Inactive (Ohio).
About Olympic Steel
Founded in 1954, Olympic Steel is a leading U.S. metals service center focused on the direct sale and distribution of large volumes of processed carbon, coated and stainless flat-rolled sheet, coil and plate steel and aluminum products. The Company’s CTI subsidiary is a leading distributor of steel tubing, bar, pipe, valves and fittings, and fabricates pressure parts for the electric utility industry. Headquartered in Cleveland, Ohio, Olympic Steel operates from 34 facilities in North America.
For additional information, please visit the Company’s website at www.olysteel.com or www.b2i.us/profiles/investor/ContactUs.asp?BzID=2195.
Matthew J. Dennis, CFA
Olympic Steel Investor Relations