Hillman CEO Jim Waters retires

The Hillman Companies, a Cincinnati-based hardware and fastener distributor, announced that its CEO, James Waters, has retired.

Waters is retiring as chief executive and a member of the company's board of directors after serving in a transitional capacity -- and 16 years of total service to the company.

To assist with the transition, Hillman named current nonexecutive chairman Doug Cahill to the post of executive chairman.

"On behalf of the board, I sincerely thank Jim for his valuable contributions and outstanding service throughout his career at Hillman," said Cahill. "We wish Jim and his family the very best."

The board of directors is currently seeking a full-time replacement CEO.

"I've worked at Hillman for 16 incredible years," said Waters.  "I am extremely proud of where we are today as a company. Over the past two years, I have guided the company through its largest acquisition and the CCMP transaction and the company is now launching its next growth phase. For me, the decision to step down was difficult, but with the company performing well, on strong footing, and well-positioned for the future, I must now focus on my family. I believe that making this decision at this time is optimal for the company and my vision of my future. I am sincerely grateful for the support I've received from CCMP and have thoroughly enjoyed my time working with them. I will miss working with the talented team at Hillman and firmly believe that the company's best days lie ahead."