Schnitzer Recycling President Steps Aside

Schnitzer Steel Industries Inc., Portland, Ore., has announced in an SEC filing that on Aug. 10, 2013, Patrick Christopher, the company’s senior vice president and president of the its metals recycling business, resigned from the company.

According to Schnitzer, his employment with the company terminated on Aug. 14, 2013. Christopher had been hired and signed an employment agreement with the company on March 13, 2012.

In the filing, the company says on Aug. 27, 2013, it entered into a severance agreement and covenants with Christopher to fully and finally settle any and all claims he may have had against the company.

Pursuant to the agreement, Christopher has agreed to the following:
• reaffirmed the one-year noncompetition and non-solicitation covenants and the perpetual nondisclosure covenant set forth in his employment agreement;
• agreed to cooperate with the company in the defense of any claims asserted by others against the company with respect to which he has personal knowledge, and;
• released any and all claims he may have had against the company.