What Rich Manson Does as CFO – and How You Can Help

Rich Manson, CFO

“We are all Olympic Steel, and the collective efforts of everyone contribute to our success.”

One of the key reasons Olympic Steel has been around for 65 years is our commitment to financial stability. Simply put, Rich Manson’s job as our Chief Financial Officer (CFO) is to instill financial stability into every aspect of the organization.

Rich and his team:

  • Oversee the company’s financial statements and reporting requirements with the Securities and Exchange Commission (SEC)
  • Maintain our relationships with banks that provide us with the necessary capital to provide secure jobs and benefits for our 1,800 employees
  • Oversee our IT Department and Strategic Development
  • Provide the financial framework to support our CEO’s Five-Year Strategic Plan

Rich is certainly qualified for the position of CFO. He is a Certified Public Accountant and joined Olympic Steel in 1996 as the Director of Taxes and Risk Management. He has also served as our Treasurer and Corporate Controller, Vice President of Human Resources and Administration, and Vice President and Treasurer. He was promoted to the position of CFO on January 1, 2019.

What Our Financial Stability Means for You
Olympic Steel’s commitment to financial stability means the company can reinvest in our facilities by carefully maintaining existing equipment and purchasing new equipment. It also allows us to acquire new businesses to expand our organization – which creates new career and growth opportunities for our employees. A great example of this is McCullough Industries. This is the kind of growth that will help Olympic Steel be successful for the next 65 years.

How You Can Have an Impact
As business conditions change, each division must take a look at its expenses and make adjustments in proportion with the volume of business being conducted. Generally speaking, the second half of the year is typically somewhat slower than the first half of the year.

When asked how employees can help, Rich stated that, “Our employees are one of the best sources of new ideas to help us watch our operating expenses.” He encourages any employee who has an idea on how to operate more efficiently and reduce our expenses to discuss it with his/her supervisor.

Also, don’t forget that, each quarter, we recognize employees with cash awards for initiatives that improve our business. That includes helping to grow the business and profitability, controlling expenses and more. To learn more about our Fe Award program, visit our new site: IamOlympicSteel.com.

Rich sums it up by saying, “We are all Olympic Steel, and the collective efforts of everyone contribute to our success.”

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