PITTSBURGH Harry Kletter
will step down as Industrial Services of America Inc.s
(ISAs) chief executive officer in May, a role he had
intended to exit last summer.
Kletter, 85, told AMM
that his exodus took longer than anticipated because he wanted
to leave the business that he founded more than half a century
ago on solid footing.
"I had to get everything in good
order. We went into stainless four years ago, and then times
got tough and we gave about a third of it back," he said. "It
is all good now. Management is in good order, and so is the
physical aspect of the company."
Kletter, who said he wont
seek re-election to ISAs board of directors at its annual
meeting to be held in May, had planned to vacate his chief
executive officer role in July and exit the board by December
2012. He announced his plan to retire last May, at the time
handing the role of chairman to Orson Oliver (
amm.com, May 18).
"After spending the past 60
years in this industry, it is time for me to retire," Kletter
said. "The company has now regained its footing, and I have the
utmost confidence in management to move the company
The Louisville, Ky.-based metals
recycler and scrap processor is working to find an interim
chief executive to step in for Kletter in May.
Under Kletters leadership,
the Louisville yard has grown to a 60-acre auto salvage,
shredding and scrap processing facility from a 20-acre
Kletter hopes to spend time on
the sidelines mentoring and educating the younger generation
about the nature of the business, he said.
"My philosophy on the scrap
business is you have to work at it. This is not a forgiving
business where you can just hand it over and it will continue
to run itself. It is a tough business," he added.