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AK CEO resigns

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Printed Date: May 21 2024 at 12:15pm

Topic: AK CEO resigns
Posted By: 409
Subject: AK CEO resigns
Date Posted: Oct 27 2015 at 11:20am
AK Steel CEO resigns, successor named

By Chelsey Levingston
The chief executive officer of one of the Cincinnati-Dayton region’s largest publicly traded companies, AK Steel Holding Corp., will retire, the company announced Tuesday morning.

Wainscott has served as president and CEO since October of 2003 and chairman of the board since January 2006. Plans are to retire effective Jan. 1, 2016, after which he will continue to serve as chairman in a non-executive capacity, according to AK Steel.

As a result, the AK Steel board of directors made the following appointments, also effective Jan. 1: Roger Newport, has been named Chief Executive Officer and a member of the board; and Kirk Reich, was appointed president and chief operating officer reporting to Newport.

“These moves are part of a planned succession process at the company. In Roger and Kirk, I am fortunate to pass on the leadership torch to these two fine executives who have demonstrated track records of success and who are ready to lead this great company for years to come,” Wainscott said in a written statement.

The news came Tuesday along with the Butler County steelmaker’s latest quarterly financial results. AK Steel reported net income of $6.7 million for the July through September quarter, compared to a net loss of $7.2 million a year ago, beating analyst projections.

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