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The company's sales were $602 million for the second quarter of 2020, which was 24 percent lower than the first quarter of 2020 and 39 percent lower than the second quarter of 2019.
Lane has served as a director of MRC Global and president and CEO since September 2008 and was the MRC Global chairman of the board from December 2009 until April 2016, when the positions of chairman of the board and CEO were separated.