MRC Global Inc. (MRC), the global distributor, based on sales, of pipe, valves and fittings and other infrastructure products and services to the energy industry, announced the retirement plan for MRC Global’s president and chief executive officer.
After a discussion at the board of directors meeting, Andrew Lane announced his plan to retire as president and chief executive effective December 31, 2021. Mr Lane will also resign from the board on that date. Mr Lane has served as a director of MRC Global and president and CEO since September 2008 and was the MRC Global chairman of the board from December 2009 until April 2016, when the positions of chairman of the board and CEO were separated.
Andrew R. Lane stated, “Next year I turn 62. I will complete my thirteenth year as CEO, and the company will reach it’s 100-year milestone next year. It’s the right time for me to retire. I’m especially proud of helping to build the global PVF distribution leader in the energy industry. It has been an honor to lead our team in achieving a successful initial public offering in April 2012, reaching USD 5.9bn in sales in 2014 at the last peak in the oil and gas cycle, successfully addressing the volatile market conditions in recent years and working to build our MRCGO™ digital platform as we continue to position our business into the future.”
