Equipment distributor and rental company Noble Iron said this week that president and CEO Willie Swisher, who helped found the company three years ago, is resigning from those positions at the end of 2013. Swisher will continue as a director on Noble Iron’s board. Nabil Kassam, founder and executive chairman of Noble Iron, will assume the role of founder, chairman and CEO beginning Jan. 1.
“It has been my honor to help create and to help lead Noble Iron these past three years alongside Nabil Kassam, from Noble Iron’s infancy to a company with national reach” Swisher said. “Moreover, it has been my great privilege to work with an exceptionally dedicated and skilled team. At this time, given the progress and future plans of the business, the company is best served with Nabil Kassam in the leadership role. I look forward to supporting Nabil, and continuing to assist in Noble Iron’s future success.”
“Willie has been much more than my business partner in launching Noble Iron,” said Kassam. “He has been a mentor and a dear friend. I look forward to our continuing relationship. Noble Iron is still in the early stages of developing an incredible opportunity in the world of construction and industrial activity.”
Noble Iron also announced its third-quarter preliminary results with year-to-date revenue through Sept. 30 totaling $15.1 million, compared to $12 million for the first nine months of 2012, a 25-percent increase. Third-quarter revenue was $5 million, compared to $4 million during the third quarter of 2012.
The company said complete third-quarter financials will be released during the last week of November.
“Noble Iron’s third-quarter performance displays our strong foundation and growth trajectory,” added Kassam. “We are confident in our strategy and the long-term vision for Noble Iron.”
Noble Iron is based in Houston and serves customers in California and Texas. It is the exclusive distributor for LiuGong Construction Machinery equipment in Southeast Texas. Noble Iron also owns rental software company Texada Software.