Universal Stainless names new CFO
Written on July 22, 2010
Universal Stainless & Alloy Products, Inc. named Douglas M. McSorely vice president of finance, chief financial officer and treasurer effective July 19, the company said in a statement.
McSorely replaces Richard M. Ubinger who left the company in April to “pursue other business opportunities.”
McSorely was most recently CFO for PSC Metals Inc., an Icahn Enterprises L.P. scrap metal recycling company. He spent 15 years at PSC and worked on M&A activities including financial consolidation of several companies.
“The breadth and depth of his experience will enable him to quickly assume control of the vital financial function and play a key role as we continue to execute our strategic growth plan,” Dennis Oates, chairman president and CEO of Universal Stainless said of McSorely.
Bridgeville-based Universal Stainless & Alloy Products (Nasdaq: USAP) makes and markets semi-finished and finished specialty steels.
In April, Universal reported first-quarter earnings of $1.4 million, compared to a loss in the same period a year earlier.
The company is slated to report second-quarter earnings on July 28.
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