Global Industrial Company (GIC) Announces CEO Transition

Global Industrial Company (NYSE: GIC), a value-added national distributor of industrial products and MRO supplies, today announced that Barry Litwin, CEO, has notified the Board of Directors of his upcoming departure from the Company to pursue another opportunity, and that the Board of Directors has appointed Richard B. Leeds, Executive Chairman of the Board, as Interim Chief Executive Officer. The transition will be effective as of August 9, 2024.

Mr. Leeds joined the Company in 1982 and served as its Chairman and CEO from 1995 until becoming Executive Chairman in 2016. He also previously served as President of the Company's Industrial Products Group until 2011.

"Barry has been an invaluable leader during his time with the Company, and his contributions both as CEO and Board member have been instrumental in the growth and continued success of the business," said Richard Leeds, Executive Chairman of the Board. "We thank Barry for his service to the Company and wish him well in his future endeavors."

"It has been a privilege to lead Global Industrial over the last nearly six years," said Mr. Litwin. "I am proud of the achievements we have accomplished together, from digital transformation to maintaining our paramount focus on the customer. The Global Industrial team has my complete confidence to continue successfully executing on our strategy going forward."

The Board is committed to a seamless transition as it conducts a search for a permanent CEO.

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