8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 9, 2010

Ryerson Inc.

(Exact name of registrant as specified in its charter)

Delaware

(State or other jurisdiction of incorporation)

333-152102

(Commission File Number)

36-3425828

(I.R.S. Employer Identification No.)

2621 West 15^th Place, Chicago, IL 60608

(Address of principal executive offices and zip code)

(773) 762-2121

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

(c) Appointment of New Officer

Ryerson Names New President & CEO

On November 9, 2010, Ryerson Inc. (the “Company”) entered into an offer letter (the “Offer Letter”) with Michael C. Arnold, pursuant to which he was appointed to the position of President and Chief Executive Officer of the Company, effective January 10, 2011. Mr. Arnold, 54, will replace current chief executive officer and president, Stephen E. Makarewicz, who announced his plan to retire earlier this year.

Mr. Arnold currently serves as executive vice president for The Timken Company (“Timken”) and is president of Timken’s Bearings and Power Transmission Group. Timken is a global company that manufactures steel, bearings and related components. Mr. Arnold was named president of Timken’s industrial business in 2000 and executive vice president and president of the Bearings and Power Transmission Group in 2007.

Pursuant to the terms of the Offer Letter, which is subject to Mr. Arnold’s execution of a confidentiality and trade secret agreement, Mr. Arnold will be entitled to an annual base salary of $750,000 per year and will have a target annual bonus opportunity equal to 100% of his base salary, based on the achievement of targets established pursuant to its Annual Incentive Plan. Additionally, Mr. Arnold will be eligible to receive an allocation of a number of performance units under the Amended and Restated Rhombus Holding Corporation 2009 Participation Plan that represents one percent (1%) of the management allocation. The Offer Letter also provides that the Company and Mr. Arnold will work together to structure an additional incentive compensation arrangement that would entitle Mr. Arnold to an after-tax economic return of between $2.8 and $3.2 million upon the occurrence of a liquidity event.

In the event that Mr. Arnold’s employment is terminated by the Company without cause, he will, subject to his execution of a general release in favor of the Company and its affiliates, be entitled to continue to receive his base salary for the lesser of (i) fifty-two (52) weeks following such termination, and (ii) the date on which Mr. Arnold secures employment, either as an employee or independent contractor, with Platinum Equity, LLC or any of its affiliates.

A copy of the Company’s press release announcing Mr. Arnold’s appointment is attached hereto as Exhibit 99.1 and is incorporated by reference herein.

Item 9.01. Financial Statements and Exhibits.

d) Exhibits

The following exhibit is being filed with this Current Report on Form 8-K:

99.1 Press Release: Ryerson Names Michael C. Arnold President & CEO

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: November 16, 2010

RYERSON INC.
By:	/s/ Terence R. Rogers
Name:	Terence R. Rogers
Title:	Chief Financial Officer

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Exhibit Index

99.1 Press Release: Ryerson Names Michael C. Arnold President & CEO

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EX-99.1

Exhibit 99.1

For additional information contact:

Terence R. Rogers

EVP and CFO

Ryerson Inc.

773-788-3720

terence.rogers@ryerson.com

FOR IMMEDIATE RELEASE

RYERSON NAMES MICHAEL C. ARNOLD PRESIDENT & CEO;

Replaces Stephen E. Makarewicz Who Retires

CHICAGO, IL – November 11, 2010 – Ryerson, a leading processor and distributor of metals in North America, today announced the appointment of Michael C. Arnold to the position of president and chief executive officer, effective January 10, 2011. Mr. Arnold, 54, replaces Stephen E. Makarewicz, 63, who announced in May 2010 his plan to retire and will leave after the beginning of the year once the transition is complete.

“We conducted a global search and found the strongest and the best candidate to lead Ryerson into the future,” said Ryerson director Robert L. Archambault, who preceded Mr. Makarewicz as the company’s chief executive and is a partner with Platinum Equity, Ryerson’s largest shareholder. “With his proven operational and leadership track record, global experience and success in growing industrial businesses, Mike brings a wealth of knowledge to this important role. He possesses the rare combination of strategic thinking and execution excellence, with a mechanical and material background that will fit well in leading the company in existing and new markets. We’re happy to have him.”

Mr. Arnold’s arrival in January will mark the culmination of a deliberate and seamless succession process.

“Steve and the management team have already laid the groundwork to ensure a smooth transition as Mike comes on board at the beginning of next year,” said Ryerson director Jacob Kotzubei, the partner at Platinum Equity who led Platinum’s acquisition of Ryerson in 2007. “Thanks to Steve’s contributions, Ryerson is a stronger, more efficient organization that is poised for growth and long-term success. We’ve appreciated Steve’s service and wish him well in his retirement.”

Mr. Arnold currently serves as executive vice president for The Timken Company and is president of Timken’s Bearings and Power Transmission Group. Timken is a global company that manufactures steel, bearings and related components.

…continued

Mr. Arnold joined Timken’s Cleveland, Ohio, sales office in 1979 as a sales engineer. Throughout his career, which has spanned three decades, he has held positions in a variety of different areas of the company and around the world. During his tenure with Timken, he led strategic capital investments, developed new markets for the company in Asia, directed European manufacturing operations, drove numerous continuous improvement and restructuring efforts, guided strategy for acquisitions including Torrington Bearings and forged collaborative partnerships to further logistics and distribution efficiencies. Mr. Arnold was named president of Timken’s Industrial Business in 2000 and executive vice president and president of the Bearings and Power Transmission Group in 2007.

Mr. Arnold holds a bachelor of science degree in mechanical engineering and a master of business degree in sales and marketing from The University of Akron (OH). He currently serves on the college’s Engineering Advisory Council and is a member of The University of Akron Foundation’s Board of Directors. He was elected to the Board of Directors of Gardner Denver Inc. in 2009 and has been a director of Cincinnati Inc. since 2007.

About the Company

Ryerson, a Platinum Equity company, is a leading North American processor and distributor of metals, with operations in the United States, Canada and Mexico, as well as in China. The Company distributes and processes various kinds of metals, including stainless and carbon steel and aluminum products.

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