Worthington Industries moves up company split
Worthington Industries has moved up the split of its company into two pieces to December, ahead of its original plan of separating in early 2024.
One company will be called Worthington Enterprises and will include the company's building products, consumer products and sustainable energy solutions business. The other company, Worthington Steel, will be the company's steel processing business.
Both companies will continue to be headquartered in Columbus.
The split of the companies was announced a year ago. The move is meant to allow each company to capitalize on different growth and value creation strategies.
Worthington Industries President and CEO Andy Rose will hold the same job with Worthington Enterprises.
“The word ‘Enterprises' is most often associated with entrepreneurial ventures – and that is who we are at Worthington Enterprises," he said in a statement. "We are entrepreneurs, designers, manufacturers, and acquirers of innovative brands and products in attractive end markets.”
Worthington Steel honors the legacy of the company's history with a return to the original name of the steel processing business John H. Mcconnell founded in 1955.
Geoff Gilmore, chief operating officer and executive vice president of Worthington Industries, will become president and chief executive officer of Worthington Steel.
“Our entire team is energized to boldly lead the metals industry into a sustainable future as the most trusted, most innovative and most value-added metals processing partner in North America and beyond," he said. mawilliams@dispatch.com @Bizmarkwilliams