Steel Technologies Announces Executive Changes

STEEL TECHNOLOGIES ANNOUNCES MANAGEMENT TRANSITIONS

LOUISVILLE, KY (December 18, 2020) – After more than 41 years with the company, Michael J. Carroll will retire from his position as President & CEO of Steel Technologies. As part of a strategic succession plan, the company announces Thad Solomon as Mr. Carroll’s successor as President & CEO and Jun Ozone will be joining the company as Chief Commercial Officer. The effective date of the executive transition is February 1, 2021.

Mr. Carroll has served as President & CEO of the company since 2010 and President & COO since 1999. “I am extraordinarily thankful to have participated in such an exciting growth story over the last 41 years,” said Carroll. “I have had the honor of working with so many amazing people throughout our proud history. The company has never been better positioned and the team has never been stronger.”

Mr. Solomon is a strategic and high energy leader and has served as Chief Operations Officer of the company since August 2020. Throughout his 29 years of steel industry experience, Thad has served in key leadership positions, most recently as Vice President and General Manager, Nucor-Steel Yamato Steel. The depth of Thad’s experience and abundance of knowledge will broaden the company’s future investments in a fast-changing industry. “I want to thank Mike for his 41 years of dedicated service in making Steel Technologies one of the strongest and most respected flat-rolled processors in North America. I am very excited and honored to lead the exceptional Steel Technologies Team into the next chapter of our outstanding story.”

Mr. Ozone is a tenured executive with over 25 years of global steel experience. Jun has an extensive background in the automotive and service center industries and will be joining the company from Mitsui & Co., Ltd. He has served in various senior leadership positions and brings strong investment experience that will support our strategic growth initiatives. “It is a great honor to join Steel Technologies and I commend Mr. Carroll for his tremendous leadership over the past several years. I look forward to working alongside Mr. Solomon and the excellent team to further advance the company’s growth.”

The company has expanded exponentially throughout its history – from a small operation in Eminence, Kentucky to one of the largest flat-rolled processing companies in North America. “The succession plan is designed to
expand the company’s talented management team with two high caliber executives. We have positioned the company for accelerated growth and are committed to expanding the value we bring to our customers,” Carroll
said.

Steel Technologies, headquartered in Louisville, Kentucky, is one of the leading flat-rolled processors in North America and leverages its broad geographic network of 26 operations to deliver value-added products and
services to customers. More information about Steel Technologies can be found at www.steeltechnologies.com.

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