Chairman and CEO roles separated
CEO employment agreement extended until May 2020
HOUSTON, Feb. 18, 2016 /PRNewswire/ -- MRC Global Inc. (NYSE: MRC), the largest global distributor, based on sales, of pipe, valves and fittings and related products and services to the energy industry, announced that its board of directors named Rhys J. Best as non-executive chairman effective as of its upcoming annual meeting of shareholders on April 28, 2016. Among other responsibilities, as non-executive chairman, Mr. Best will coordinate future agendas for MRC Global board and shareholder meetings, preside at those meetings, serve as the liaison between management and the independent directors and consult on shareholder engagement and governance matters. Mr. Best joined the MRC Global board in 2008 and has held various leadership roles including chair of the compensation and governance committees. Since 2014, he has served as lead independent director.
Andrew R. Lane will continue to serve as President & CEO and as a director, roles he has held since September 2008. The board also extended Mr. Lane's employment agreement until May 2020. [Read Full Press Release]