AK Steel announces retirement of president/CEO

James L. Wainscott

AK Steel, a producer of flat-rolled carbon, stainless, and electrical steel products in West Chester, Ohio, has announced that James L. Wainscott, who has served as president/CEO since October 2003 and chairman of the board since January 2006, will retire Jan. 1, 2016. He will continue to serve as chairman of the board of directors in a nonexecutive capacity after his retirement.

Related to this change, the company has appointed Roger K. Newport as CEO and a member of the board of directors and has named Kirk W. Reich as president and COO.

Wainscott joined the company as vice president and treasurer in 1995. He was named CFO in 1997, president/CEO and board member in 2003, and chairman of the board in 2006. In addition to his leadership of AK Steel, he serves as a member of the board of directors of Parker-Hannifin Corp. He is former chairman of AISI and past chair of the Steel Market Development Institute.

Newport started his career with the company in 1985 in the accounting department. He was named controller in 2001 and chief accounting officer in 2004. He was named vice president, business planning and development in 2010, and vice president, finance and CFO in 2012. He was appointed as senior vice president, finance and CFO in 2014 and executive vice president, finance and CFO in 2015.

Reich began his career with the company in 1989 in the engineering department at the company's Middletown Works. He was named general manager, Mansfield Works in 2000; general manager, Middletown Works in 2006; vice president, specialty steel operations in 2010; and vice president, procurement and supply chain management in 2012. He was appointed senior vice president, manufacturing in 2014 and executive vice president, manufacturing in 2015.

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