Canton, Ohio-based steel producer TimkenSteel says its board of directors has named Michael S. Williams as its new president and CEO and has added him to the board of directors effective Jan. 1, 2021. Terry L. Dunlap, who has served as the company’s interim CEO and president since October 2019, will remain on the board and act as an independent director of the company, effective Jan. 1.
“Mike is the right person to lead TimkenSteel into the future, given his extensive industry experience and proven track record,” says Dunlap. “The TimkenSteel team has worked diligently with me over the past 15 months to improve the financial results of the company, and I know Mike is prepared to build on that momentum. I look forward to supporting Mike and the company in my continued role as a director.”
TimkenSteel, which describes itself as a provider of customized alloy steel products and services, says it consumes some 2 million tons per year of ferrous scrap at its Faircrest Steel Plant in Canton.
Williams was most recently the CEO of Bayou Steel Group, a company that had produced structural steel and merchant bar at an electric arc furnace (EAF) mill in Louisiana. Prior to joining Bayou, Williams served as president of Outokumpu Americas for Finland-based stainless steel producer Outokumpu Oyj.
Prior to that, Williams served at Pittsburgh-based U.S Steel Corp., including as its senior vice president North American Flat Rolled and senior vice president of strategic planning and business development.
“I would sincerely like to thank Terry for his focus and strong leadership during a challenging time for TimkenSteel amid a global pandemic,” comments John P. Reilly, chairman of TimkenSteel’s board. “Under Terry’s leadership, we have strengthened the company’s balance sheet and streamlined the company to better serve our customers now and in the future.”
Also at TimkenSteel, Frank A. DiPiero will step down as executive vice president, general counsel and secretary of the company, effective Dec. 31. DiPiero has served in that role since 2014.
To succeed DiPiero, the board has named Kristine C. Syrvalin as executive vice president, general counsel and secretary effective Jan. 1, 2021. Syrvalin is currently the assistant general counsel and vice president of ethics and compliance at TimkenSteel. Prior to joining the company in 2014, she was vice president, assistant general counsel and corporate secretary for Ohio-based polymers producer Omnova Solutions Inc.
“Frank was instrumental in structuring the company at the spinoff in 2014 and helping guide it since then, and his leadership will be greatly missed,” says Reilly. “We thank him for his many contributions, and we wish him well in his future endeavors. At the same time, we are pleased to have an experienced and capable successor in Kris, who has partnered with Frank since the spinoff, bringing critical expertise and leadership at an important time in the company’s journey.”
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