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MSC Industrial Direct Co. Inc. (NYSE: MSM), MRO distributor and No. 13 on MDM's list of the top 40 industrial distributors, announced its management succession plan today. Under the plan, current President and CEO David Sandler will continue in his role until Dec. 31, 2012, or no later than Dec. 31, 2013.
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Erik Gershwind, COO, will succeed him in the top position.
Sandler will then serve as vice chairman of the distributor's board of directors.
Sandler said: “I am gratified and humbled to continue to have the Board’s confidence in affirming my long-term leadership role at MSC. While my desire in the coming years will be to eventually spend more time with my family, MSC has not only represented a career to which I remain deeply committed but an important part of my life as well. Our effective succession management process, commitment to strong corporate governance and track record of successfully transitioning leadership seamlessly makes MSC a company that is built to last.”