Ryerson CEO Michael Arnold To Retire Next Year

(RTTNews) - Ryerson Holding Corp. (RYI) said Friday that President and Chief Executive Officer Michael Arnold has informed the company's Board of Directors of his intent to retire next year.

Arnold has served as Ryerson's president and CEO since January 2011. Prior to joining Ryerson, he spent over 31 years at bearing maker Timken Co. (TKR).

Specific timing for a transition has not yet been determined, though a new chief executive officer could be in place as soon as the first quarter of 2015, the company said.

Arnold has committed to staying on as long as necessary to ensure a smooth transition.