Pipes, valves and fittings distributor MRC Global Inc. (NYSE: MRC) of Houston announced that current Chairman of the Board Rhys J. Best will retire at the annual meeting of the company’s stockholders scheduled May 5.

The company’s board of directors has selected Robert L. (Bob) Wood to be its next chairman, “effective and contingent upon his re-election as a director at the annual meeting.”

“We thank Rhys for his 15 years of dedicated service to MRC Global and his significant contributions to the company through his role as a board director” said Rob Saltiel, president and CEO and board member of MRC Global. “Rhys joined our board in 2007 while we were a private company, and his tenure has notably included the formation of MRC Global and our initial public offering on the New York Stock Exchange in 2012. Rhys has previously served as chairman of the board’s compensation committee and as lead director, and he was elected as our first independent Chairman of the Board in 2016. We are grateful for the leadership and counsel Rhys has provided and wish him the very best in his retirement from our board.”