Date: March 28, 2006
Source: Business Wire
Metal Management, Inc. (Nasdaq:MTLM), one of the nation's largest full service scrap metal recyclers, today announced the appointment of Norman R. Bobins to the Metal Management Board of Directors. Mr. Bobins, President and Chief Executive Officer of LaSalle Bank Corporation, will succeed Kevin P. McGuinness. Mr. McGuinness will retire from active board service to become Director Emeritus after serving as a Director since 2001. Both Mr. Bobins' appointment and Mr. McGuinness' retirement are effective April 1, 2006.
In addition to serving as President and Chief Executive Officer of LaSalle Bank Corporation, Mr. Bobins is Senior Executive Vice President of LaSalle's parent company, ABN AMRO Bank N.V. Previously, Mr. Bobins served for nearly a decade as Senior Executive Vice President and Chief Lending Officer of The Exchange National Bank of Chicago until its acquisition by LaSalle National Corporation, the predecessor to LaSalle Bank Corporation. Earlier in his career, Mr. Bobins was Senior Vice President of the American National Bank and Trust Company, serving in a range of commercial lending positions.
Daniel W. Dienst, Chairman, President and Chief Executive Officer of Metal Management said, "We are very pleased that Norm Bobins is joining our board as a new independent director. His wealth of experience, not only as a financial expert but more importantly, with a track record of building institutions with cultures of success, will serve Metal Management's shareholders well. We look forward to his contributions as we continue to seek to deliver long-term value for our shareholders."
Mr. Dienst continued, "Since Kevin McGuinness joined Metal Management about five years ago, the market capitalization of Metal Management has increased by approximately $650 million. On behalf of the shareholders of Metal Management, I would like to thank Kevin for his many contributions that he has made to the Company. His extensive knowledge of the global scrap metal recycling industry has been a tremendous benefit to the company, and we look forward to his continuing counsel and insight as Director Emeritus."
More information: www.mtlm.com.