MSC Industrial Supply Co. announces leadership change
MELVILLE, NY and DAVIDSON, North Carolina, October 6, 2021 / PRNewswire / – MSC Industrial Supply Co. (NYSE: MSM), a leading distributor of metalworking and maintenance, repair and operation (MRO) products and services to industrial customers across North America, today announced that Edouard Martin, senior vice president of sales and customer success, has left the company.
Kim shacklett will assume the role of Acting Vice President of Sales and Customer Success. Shacklett joined MSC in 2006 as part of the acquisition of J&L Industrial Supply, where she spent 15 years previously. During her tenure at MSC, she led the company’s customer service, metalworking and telesales teams. Most recently, she led the digital transformation of customer service, overseeing the deployment of technologies to improve the customer experience through omnichannel capabilities while driving productivity and reducing costs. She has developed an in-depth knowledge of the industry, suppliers, customers and associates of MSC.
President and CEO of MSC Erik Gershwind said, “I thank Eddie for laying the groundwork for market share capture and improved execution. Kim is known for her authenticity, her energy and her unwavering demonstration of the values on which our company was founded. I am delighted that Kim is taking the lead in our sales efforts. She’s the right fit to take advantage of the growing momentum and market share we see in the business as we execute our Mission Critical transformation. “
MSC will release its fourth quarter and fiscal 2021 results on 20 October 2021.
About MSC Industrial Supply Co.
MSC Industrial Supply Co. (NYSE: MSM) is a leading North American distributor of metalworking and maintenance, repair and operation (MRO) products and services. We help our clients increase their productivity, profitability and growth with approximately 1.9 million products, inventory management and other supply chain solutions, as well as deep expertise from 80 years of collaboration. with clients from all sectors. Our experienced team of more than 6,200 associates is dedicated to working side-by-side with our clients to help drive results for their businesses – from maintaining efficient operations today to continuous redesign, retooling and optimization for a more productive future. For more information on MSC Industrial, please visit mscdirect.com.
Caution regarding forward-looking statements
Statements in this press release may constitute “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, that deal with business, events or developments that we expect, believe or anticipate will or may occur in the future, including statements about the future impact of COVID-19 on our business operations, results of operations and financial condition, expected future results, the expected benefits of our investment and strategic plans and other initiatives, and the growth, profitability and return on invested capital, are forward-looking statements. The words “will”, “may”, “believes”, “anticipates”, “thinks”, “expects”, “estimates”, “,“ ”,. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those anticipated by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The inclusion of any statement in this press release does not constitute an admission by MSC Industrial or any other person that the events or circumstances described in this statement are material. Factors that could cause actual results to differ materially from forward-looking statements are as follows, many of which are and will be magnified by the COVID-19 pandemic: the impact of the COVID-19 pandemic on our sales, our operations and supply chain; general economic conditions in the markets in which we operate, including conditions resulting from the COVID-19 pandemic; change the combinations of customers and products; competition, including the adoption by competitors of aggressive pricing strategies and sales methods; industry consolidation and other changes in the industrial distribution sector; our ability to realize the expected benefits of our investment and strategic plans, including our transition from a cash purchase supplier to a critical partner for our customers; our ability to realize the cost savings and benefits expected from our restructuring activities and structural cost reductions; retention of key personnel; volatility of commodity and energy prices; the credit risk of our customers, including changes in credit risk resulting from the COVID-19 pandemic; the risk of cancellation or rescheduling of orders by the customer; difficulties in calibrating customer demand for our products, in particular personal protective equipment or “PPE” products, which could make it impossible to sell surplus products ordered from manufacturers leading to stock depreciation or could on the contrary cause stockouts of these products; work stoppages, labor shortages, or other business disruptions (including those due to extreme weather conditions or as a result of the COVID-19 pandemic) at transportation hubs, shipping ports , our head office or our customer processing centers; disruptions or violations of our information systems, or violations of data privacy laws; retention of qualified sales and customer service personnel and metalworking specialists; the risk of loss of key suppliers or key brands or of supply chain disruptions, including due to import restrictions resulting from the COVID-19 pandemic; changes in government trade policies, including the impact of significant import restrictions or tariffs; risks associated with the opening or expansion of our customer processing centers; our ability to estimate the cost of health care claims incurred under our self-insurance plan; the risk of litigation due to the nature of our business; risks associated with the integration of acquired businesses or other strategic transactions; financial restrictions on outstanding loans; our ability to maintain our credit facilities; the uncertainty of interest rates due to the reform of the London Interbank Offered Rate (“LIBOR”); failure to comply with applicable environmental, health and safety laws and regulations, including government actions in response to the COVID-19 pandemic, and other laws applicable to our business; the outcome of future governmental or regulatory proceedings or litigation; goodwill and recorded intangible assets resulting from our acquisitions could be impaired; the price of our common shares may be volatile due to factors beyond our control; and our major shareholders exercise significant control over us, which may cause us to take action or not to take action that is in the best interests of other shareholders. Additional information regarding these and other risks is described under the sections “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our annual and quarterly reports on Forms 10-K and 10-Q, respectively, and in other reports and documents that we file with the United States Securities and Exchange Commission. We expressly disclaim any obligation to update any of these forward-looking statements, except to the extent required by applicable law.
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SOURCE MSC Industrial Supply Co.