The board of directors of Commercial Metals Company announced that, as part of the company's succession plan, the board has appointed Peter R. Matt as president, effective as of April 1, 2023, succeeding Barbara R. Smith who will remain chairman and chief executive officer of the company. Mr. Matt will continue to serve on the board of directors of the company, which he joined in June 2020. Peter brings a wealth of financial, strategic and executive managerial experience, and his leadership has been excellent during his tenure on the Board of directors.

Mr. Matt is a seasoned global business leader with significant experience across a range of manufacturing companies in metals and metals-related industries. Since January 2017, Mr. Matt has served as Executive Vice President and Chief Financial Officer of Constellium SE, a leading global aluminum fabrication company. Prior to joining Constellium, Mr. Matt served as a Managing Partner for Tumpline Capital, LLC from 2015 to 2016.

From 1985 to 2015, he held various leadership positions with Credit Suisse. At Constellium, Peter served as Executive Vice President and Chief Financial Officer, with additional responsibility for strategy, procurement and IT. In these capacities, he played a key role in the turnaround of the company, focusing on improving operating results, enhancing financial flexibility, managing risks, building out the strategic agenda and developing a strong team.

Over his 30 years as a banker, he had extensive experience working as an advisor to a wide range of industrial companies, including a number of steel companies, on strategic transactions, including mergers and acquisitions, and a broad range of financing transactions.