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A.M. Castle Names Brownstein to Board of Directors

September 07, 2016, 07:25 AM
Filed Under: Industry News

On September 2, 2016, Allan J. Young resigned from his position as a member of the Board of Directors (the “Board”) of A.M. Castle & Co. (the “Company”) and all committees of the Board on which he served. Young’s resignation was not because of adisagreement with the Company on any matters relating to the Company’s operations, policies, or practices.

The Board, upon recommendation of its Governance Committee, appointed Howard Brod Brownstein to the Board to fill the vacancy created by Young’s departure. Brownstein was appointed to take Young’s place as a Class II director. He was also appointed a member of the Human Resources and Audit Committees of the Board. Brownstein was nominated as a successor to Young by Raging Capital Management, LLC pursuant to the terms of the Settlement Agreement, dated March 17, 2015, by and among the Company, Raging Capital Management, LLC and the other parties thereto.

Brownstein is the Founder and President of The Brownstein Corporation, a nationally-known management advisory firm. Brownstein serves on the Board of Directors of PICO Holdings, and chairs its Audit Committee and is its “FinancialExpert” for Sarbanes-Oxley purposes, and also serves on its Nominating & Governance Committee. He also serves on the Board ofDirectors of P & F Industries, Inc. (Nasdaq: PFIN), and chairs its Nominating & Governance and its Strategic Planning & Risk AssessmentCommittees, and serves on its Audit Committee. Brownstein is a Board Leadership Fellow of the National Association of CorporateDirectors (“NACD”), and serves as President of NACD’s Philadelphia Chapter.

As a non-employee director, Brownstein will receive compensation in accordance with the Company’s non-employee director compensation practices described in the Company’s Annual Proxy Statement filed with the Securities and Exchange Commission on June 17, 2016.







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