CHICAGO Wayne K. Bassett, president and chief executive officer of Samuel, Son & Co. Ltd., will retire later this summer following a 40-year career with the service center chain, the company said.
Bassett, who will be succeeded by William "Bill" Chisholm, has been chief executive officer of the Mississauga, Ontario-based company since 2000 and president since 1995. During his tenure, Samuel, Son has grown to more than 100 locations from five and boosted annual sales to more than Canadian $3.5 billion ($3.4 billion) from C$60 million.
"Waynes achievements and legacy are massive," chairman Mark Samuel said in a statement June 6. "Wayne has helped to professionalize our organization and has created a high-performance culture. The relationships and depth of talent that Wayne has cultivated will serve us well into the next stage of our growth."
Bassett also served on the boards of the Canadian Steel Service Center Institute and the Metals Service Center Institute for more than 30 years.
Chisholm held a series of increasingly senior operations roles at Dofasco Inc. from 1980 to 2007, culminating in a six-year term as president of the companys tubular products division. He joined ArcelorMittal Tubular Products as chief operating officer after Luxembourg-based parent ArcelorMittal SA acquired Dofasco in 2007. Chisholm ran three business units comprising 26 plants in 13 countries across four continents, and then became chief executive officer of ArcelorMittal Mexico SA de CV. He had oversight of mining and metals businesses, including the largest integrated steel mill in Mexico, which produces 4 million tons per year.
"Bills demonstrated track record of success and international exposure, coupled with his passionate focus on process improvement and management training and development, set him apart," Samuel added.