CMC CEO Barbara Smith to retire; President Peter Matt named CEO effective Sept 1, 2023

COMMERCIAL METALS Co

Barbara Smith retires as CEO, becomes Executive Chairman on Sept 1, 2023.
Peter Matt, formerly President, appointed CEO and President effective Sept 1, 2023.
Matt receives base salary of $1M, annual cash bonus up to 125% and equity target of 450%.
Smith receives base salary of $800K, annual cash bonus up to 100% and equity target of 400%.
Succession follows a long-term planning process; Matt joined CMC as President in April 2023.

item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Peter R. Matt

Chief Executive Officer and President

CMC · COMMERCIAL METALS Co

Effective: 2023-09-01
Filed: July 10, 2023, 7:59 PM ET

Peter R. Matt, the Company’s President, will assume the role of Chief Executive Officer and President of the Company, effective September 1, 2023.

Role change

Barbara R. Smith

Executive Chairman

CMC · COMMERCIAL METALS Co

Effective: 2023-09-01
Successor: Peter R. Matt
Filed: July 10, 2023, 7:59 PM ET

Barbara R. Smith, the Company’s Chairman and Chief Executive Officer, has elected to retire as Chief Executive Officer, effective September 1, 2023; Ms. Smith will continue her service on the Company’s Board of Directors (the “ Board ”) as Executive Chairman effective September 1, 2023.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Peter R. Matt was appointed as Chief Executive Officer and President at COMMERCIAL METALS Co.

Action: appointed
Role: Chief Executive Officer and President

Exact text from the filing

Peter R. Matt, the Company’s President, will assume the role of Chief Executive Officer and President of the Company, effective September 1, 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Barbara R. Smith was appointed as Executive Chairman at COMMERCIAL METALS Co.

Action: appointed
Role: Executive Chairman

Exact text from the filing

Barbara R. Smith, the Company’s Chairman and Chief Executive Officer, has elected to retire as Chief Executive Officer, effective September 1, 2023; Ms. Smith will continue her service on the Company’s Board of Directors (the “ Board ”) as Executive Chairman effective September 1, 2023.

View on SEC.gov

COMMERCIAL METALS Co filing history →

Source: SEC EDGAR

accession 0001193125-23-184260

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