NEW YORK Shale-Inland
Holdings LLC has named Frank Riddick executive chairman,
replacing Craig Bouchard, who is exiting the company he founded
in 2010 in order to explore new opportunities in China.
Riddick, who most recently was
chief executive officer of Chicago-based JMC Steel Group Inc.
amm.com, Feb. 8), has been a member of the board
of directors of Bellaire, Texas-based Shale-Inland since March
"An entire generation of
Chinas best and brightest are living in the midst of
Earths most significant pollution problem. Cancer rates
are soaring. I have decided the time is right to make an
investment in China," Bouchard said in a statement to
employees, adding that he will provide more concrete details of
his plans in coming weeks.
Bouchard said his decision was
prompted, in part, by Chinas position as a major global
manufacturing base. "China is making quality products for us,
and for people all over the developed and developing world. As
business leaders, we all have a business and moral obligation
to help," he told AMM in an e-mail.
Pollution has become an
increasingly problematic issue in the Asian nation, with the
countrys Ministry of Environmental Protection announcing
Jan. 29 that air pollution in several large cities, including
Beijing, had deteriorated to "severe" levels.
"During the past many months, I
worked on assembling technologies and companies that can attack
this environmental disaster," Bouchard wrote.
Shale-Inland, a specialty
industrial distributor of pipe, valves, fittings and related
products, has grown to 47 branches, recording revenue
approaching $1 billion, since its inception. "Im proud of
what we have so far achieved," Bouchard said, adding that he
will remain the companys third-largest shareholder.
"We thank Mr. Bouchard for his
service to Shale-Inland and wish him well as he pursues other
interests," chief executive officer Richard Lundgren said in a