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Industrial distributor MSC Industrial Direct Co. Inc. (NYSE: MSM), Melville, New York, has announced that Rustom Jilla, executive vice president and CFO, has decided to step down from his position with MSC effective January 17, 2020 to become chief financial officer of a public global manufacturing company.
Greg Clark, the company's vice president of finance and corporate controller, will assume the position of Interim CFO effective following Jilla's departure and will report to Erik Gershwind, president and CFO. Clark has held various finance positions with the company since 2003. MSC will conduct a comprehensive external search to identify a permanent CFO.
Erik Gershwind, president and CFO, stated, "On behalf of the Company and the Board of Directors, I would like to thank Rustom for his significant contributions to our Company and to congratulate him on his new opportunity. During his four years with MSC, Rustom built a strong finance team and instilled even greater discipline in our business. We are grateful for his contributions and leadership. I also have strong confidence that under Greg's leadership, our deep finance team will continue to strengthen our financial operations and ensure a smooth transition."
Rustom Jilla added, "After four plus years here at MSC, this announcement is a bittersweet moment for me. I am very proud of the team, and am confident that MSC, with its distinct culture and strong foundation has a great future ahead of it. At the same time, I am excited to get back to my roots in international manufacturing and to join a global leader in innovation and solutions that is at a transformational point in its own journey."