HOUSTON, April 02, 2024 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE:MRC) ("MRC Global" or the "Company"), the leading global distributor of pipe, valves and fittings (PVF) and other infrastructure products and services to diversified gas utility, energy and industrial end-markets, today announced that Daniel Silvers has been appointed to the Company's Board of Directors, effective immediately. Mr. Silvers will serve on the Board's Compensation and Environmental, Social, Governance and Enterprise Risk Committees.
Mr. Silvers' appointment is made in conjunction with a cooperation agreement that the Company has reached with Engine Capital, L.P. ("Engine").
Robert Wood, MRC Global's Chairman of the Board, said, "We are pleased to welcome Daniel to the Board following continued constructive engagement with Engine and as part of the Board's ongoing refreshment program. Daniel is an experienced investor, operator and board director, and we will leverage his expertise across finance and operations as we continue to oversee the Company's strategic execution for continued growth and value creation."
Rob Saltiel, MRC Global's President and CEO added, "I welcome the opportunity to work with Daniel as we continue to transform MRC Global's business. Our company's balance sheet is the strongest it has ever been as a public company, and Daniel's expertise will be beneficial as we advance our growth plans and implement a capital allocation strategy that creates significant value for our shareholders."
Arnaud Ajdler, Founder and Managing Member of Engine, said, "We invested in MRC Global because of its differentiated positioning, scale advantages, franchise gas utility business and growing exposure to energy transition end markets. With his financial acumen and significant capital allocation experience, Daniel will be a valuable addition to the Board, and we are confident MRC Global is well-positioned to significantly increase shareholder value over time."
Mr. Silvers has served as the managing member of Matthews Lane Capital Partners LLC, an investment firm, since 2015. Additionally, Mr. Silvers has served as Executive Chairman of Winventory, Inc., a tech-enabled event ticketing management partner, since January 2024. Previously, Mr. Silvers served as Executive Vice President and Chief Strategy Officer at Inspired Entertainment, Inc. (NASDAQ:INSE), a gaming technology company, between 2016 and 2023 and as Chief Executive Officer and a ...