MSC INDUSTRIAL SUPPLY CO. ANNOUNCES PROMOTION OF MARTINA MCISAAC TO PRESIDENT AND CHIEF OPERATING OFFICER
Rhea-AI Summary
MSC Industrial Supply Co. (NYSE: MSM) has announced the promotion of Martina McIsaac to President and Chief Operating Officer, effective September 23, 2024. Previously serving as Executive Vice President and COO, McIsaac will now oversee MSC's entire day-to-day operations, including Sales, Marketing, Solutions, Supply Chain, Category Management, Supplier Relations, Sustainability, and Information Technology.
CEO Erik Gershwind praised McIsaac's contributions, highlighting improvements in customer experience, service levels, fill rates, and strategic initiatives. This move aims to tighten connections between technology functions and business operations. Gershwind will focus more on long-term strategic direction, business development, and talent development.
McIsaac joined MSC in October 2022 after a successful tenure at Hilti , where she led the North America organization to significant market outperformance. Her background includes 14 years at Avery Dennison in various leadership roles across multiple countries.
Positive
- Promotion of experienced executive Martina McIsaac to President and COO
- Improved customer experience, service levels, and fill rates under McIsaac's leadership
- Enhanced focus on strategic initiatives and working capital efficiencies
- CEO to concentrate on long-term strategy and business development
Negative
- None.
News Market Reaction – MSM
On the day this news was published, MSM declined 2.68%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Martina McIsaac to assume responsibility of MSC's day-to-day operations
Erik Gershwind to sharpen focus on MSC's strategy, growth planning and organizational development
Previously serving as Executive Vice President and Chief Operating Officer, Ms. McIsaac has helped MSC deliver improvements to its customer experience, supplier relationships, working capital efficiency, supply chain operations and more. In her new role, Ms. McIsaac will have formal responsibility for the entirety of MSC's day-to-day operations, which include Sales, Marketing, Solutions, Supply Chain, Category Management, Supplier Relations, Sustainability and Information Technology.
"Over the past two years, Martina has made significant improvements to our internal and external operations. She has elevated the customer experience by improving service levels and fill rates, executed strategic initiatives across our Supply Chain and further improved our working capital efficiencies. Over this time, she has shown an ability to execute large, complex initiatives to guide the business to be more focused operationally and strategically. The Board of Directors and I have full confidence in Martina's ability to take on the President responsibilities due to her sharp strategic thinking and strong team building capabilities," said Erik Gershwind, Chief Executive Officer for MSC.
Gershwind continued, "This move tightens the connection and improves our ability to capture synergies between our technology functions and the operations of our business. It also allows me to put greater focus on our long-term strategic direction and cultivating the next generation of MSC's competitive advantage, business development, and talent development. It will enable me to have a more direct interaction and communication with our primary stakeholders — associates, customers, shareholders, and suppliers — on our path to generating long-term shareholder value."
Ms. McIsaac joined MSC in October 2022 following a nine-year tenure with Hilti Corporation, a multinational company that develops, manufactures and markets hardware, software and services for the construction, building maintenance, energy and manufacturing industries. She served as Region Head and Chief Executive Officer of Hilti, Inc., leading the
MSC Industrial Supply Co. (NYSE:MSM) is a leading North American distributor of a broad range of metalworking and maintenance, repair and operations (MRO) products and services. We help our customers drive greater productivity, profitability and growth with approximately 2.4 million products, inventory management and other supply chain solutions, and deep expertise from more than 80 years of working with customers across industries. Our experienced team of more than 7,000 associates works with our customers to help drive results for their businesses - from keeping operations running efficiently today to continuously rethinking, retooling and optimizing for a more productive tomorrow. For more information on MSC Industrial, please visit mscdirect.com.
View original content to download multimedia:https://www.prnewswire.com/news-releases/msc-industrial-supply-co-announces-promotion-of-martina-mcisaac-to-president-and-chief-operating-officer-302257654.html
SOURCE MSC Industrial Supply Co.
FAQ
When will Martina McIsaac assume her new role as President and COO of MSC Industrial Supply Co. (MSM)?
What areas will Martina McIsaac oversee in her new position at MSC Industrial Supply Co. (MSM)?
How long has Martina McIsaac been with MSC Industrial Supply Co. (MSM)?
What will CEO Erik Gershwind focus on following Martina McIsaac's promotion at MSC Industrial Supply Co. (MSM)?
