Metal Management, Inc. announced that effective April 1, the company will be separating the positions of chairman of the board and CEO.
The company's board of directors unanimously approved the appointment of Daniel Dienst as chairman, effective April 1, 2003. Dienst has been an independent director of the company since June 2001. Albert Cozzi will remain as the company's CEO, and will assume the position of vice chairman, also effective April 1.
"The company's board of directors has unanimously approved a strategy that establishes independence with respect to the chairman and CEO positions. We believe it is a strategy that is important to our company in discharging our responsibilities to our stockholders. This is an extension of our already excellent corporate governance practices," said Cozzi.