Industry Veteran Brings 30 Years Experience to Role
HAMILTON, ON, March 13 /CNW/ - Stelco Inc. announced today that its
incoming board of directors will appoint Rodney Mott as the Company's next
President and Chief Executive Officer. The appointment will be made when the
new board assumes office upon the Company's emergence from its
court-supervised restructuring process, scheduled to occur on March 31, 2006.
It is anticipated that Mr. Mott will assume his new responsibilities
immediately thereafter. He is currently serving as a consultant to Tricap
Management Ltd., one of Stelco's three financial sponsors.
Mr. Mott is a North American steel industry veteran with over 30 years of
experience in the business. He brings to Stelco significant senior management
experience in such areas as restructuring, labour relations, marketing,
acquisitions, as well as plant expansion and construction. In his most recent
role, he led the restructuring and consolidation of the US steel industry as
President and CEO of International Steel Group Inc., until its sale to Mittal
Steel Company in April 2005. He has also held senior roles in US Steel, Nucor,
Lone Star Steel and Pechiney Rolled Products.
Commented Courtney Pratt, current Stelco President and Chief Executive
Officer and Chairman designate, "We are very pleased to welcome Rodney Mott to
Stelco. He is a highly regarded industry leader with the skills and experience
to enhance our success going forward and create opportunities and value for
all of our stakeholders."
"Stelco has a great reputation and tremendous potential. I am excited by
the opportunity to work with the management team, employees and the unions to
return Stelco to profitability and its leadership position in our industry",
said Rodney Mott.
A Backgrounder on Mr. Mott follows:
BACKGROUNDER
Rodney B. Mott
Incoming President and CEO
Stelco
Business Experience
2005 - 1974
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International Steel Group 2002 - 2005 President and
Richmond, Ohio Chief Executive Officer
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Pechiney Rolled Products 2000 - 2001 President and
Ravenswood, West Virginia Chief Executive Officer
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Nucor 1988 - 2000 Vice President and General
Charlotte, North Carolina Manager -
South Carolina
Plant - Arkansas
Plant - Crawfordsville,
Indiana
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Lone Star Steel 1986 - 1988 Superintendent of Operations
Dallas, Texas
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US Steel 1974 - 1986 Various management positions
Fairless Hills, Pennsylvania
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Education
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MSc in Management 1978 Trenton State College
Trenton, New Jersey
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BS, Industrial 1974 Northeastern University
Engineering Boston, Massachusetts
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About Stelco
Stelco is one of Canada's longest-established steel companies. It is
currently in the final stages of a Court-supervised restructuring. This
process is designed to establish the Company as a viable and competitive
producer for the long term. The new Stelco will be focused on its two
Ontario-based integrated steel businesses located in Hamilton and in
Nanticoke. These operations produce high quality value-added hot rolled, cold
rolled, coated sheet and bar products. This news release may contain
forward-looking information with respect to the Corporation's business
operations, financial performance and conditions. Actual results may differ
from expected results for a variety of reasons including factors discussed in
the Corporation's Management's Discussion and Analysis section of the
Corporation's 2004 Annual Report. To learn more about Stelco and its
businesses, please refer to our Web site at www.stelco.ca.
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