Lawson Products Inc. announced that the Lawson board named Dr. Ronald B. Port as non-executive chairman effective April 13 to replace Robert J. Washlow, who will be leaving the company. Washlow is the son-in-law of Lawson's founder, Sidney L. Port. Dr. Port, 66, has been a member of the Lawson board since 1984 and is the son of Sidney L. Port. The Lawson board elected James S. Errant, 58, son-in-law of
Thomas Neri, Lawson's president and chief operating officer, was elected to serve as chief executive officer effective April 13. Washlow and Neri have been working together for the last three years and the company believes that the change in CEOs will be a smooth transition.
Washlow, 62, joined Lawson in 1998 and served as Lawson's chairman and CEO since 1999. Speaking on behalf of the board of directors, Dr. Port said, "During Bob Washlow's tenure with Lawson the revenues, stock price and dividends have all increased substantially, six strategic business units were acquired, and the product line increased five-fold. He led development and implementation of a long-term strategic plan, including the repurchase of 24 percent of the company's outstanding stock, and assembled a first-rate management team to lead the company into the future. We appreciate his dedicated service and wish him well."
Washlow stated, "I have enjoyed my years at Lawson immensely and have reached a point where I would like to spend more time with my family, focus on personal business activities, long on hold, and increase my involvement in community activities. I am confident that the team we have built will continue to take our family of businesses forward in the years to come."
Neri, 55, joined Lawson in 2003 as executive vice president of finance, planning and corporate development, chief financial officer and treasurer, and became president and COO in January of this year. Earlier in his career, he held executive and finance positions with the Chicago Sun-Times and Tribune Company organizations.
Lawson Products is an international leader in selling and distributing systems, services and products to the industrial, commercial and institutional maintenance, repair and replacement (MRO) market. The company also manufacturers, sells and distributes production and specialized component parts to the original equipment marketplace (OEM) including the automotive, appliance, aerospace, construction and transportation industries.
