PITTSBURGH Industrial Services of America Inc. (ISA) has changed its corporate governance structure and management following the retirement of its founder and chief executive officer Harry Kletter on May 7.
The Louisville, Ky.-based scrap metal recycler has reduced the size of its board to five members, backpedaling from a decision to increase the number of directors to seven earlier this year (amm.com, Jan. 20, 2012
President and chief operating officer Brian Donaghy has also resigned from the board, but he will remain part of ISAs management team while David Russell, who was appointed in January, has also stepped down.
Jonathan S. Blue, chairman and chief executive officer of Blue Equity LLC, will join the board. Blue Equity manages and holds a stake in ISA (amm.com, April 1
Kletter announced earlier this year that he was leaving ISA after 60 years in the industry (amm.com, Jan. 18
We are happy to be transitioning ISA to the capable hands of Jonathan Blue at this important time in the companys evolution, Kletter said.