AK Steel elects board chairman

AK Steel has announced that James L. Wainscott, president and CEO, has been elected chairman of its board of directors, effective January 1, 2006. Wainscott will continue to serve as the company's president and CEO.

"Our board has the utmost confidence in Jim's strategic leadership and he has our complete support," said Robert H. Jenkins, the company's current chairman. "Jim has directed the start of a significant turnaround of AK Steel, and he is intently focused on the remaining critical components to achieve sustained profitability."

Wainscott was named acting president and CEO of AK Steel in September of 2003 following an executive management change. He was named to the posts on a full-time basis in October of 2003, as well as being elected a member of the board of directors.

Wainscott joined AK Steel as vice president and treasurer in 1995. He was named CFO in 1998 and senior vice president in 2000. He has been responsible for a number of administrative and operating functions, including finance, information technology, research, purchasing and transportation, quality and engineering.

Before joining the company, Wainscott held a number of executive positions with the former National Steel Corp., including treasurer and assistant secretary. He holds a bachelor's degree in accounting from Ball State University, and a master of business administration degree from the University of Notre Dame. He is a member of the Business Roundtable and is a director of the American Iron and Steel Institute, the Specialty Steel Institute of North America, and the Good Samaritan Hospital (Cincinnati) Foundation.