Steel Dynamics appoints independent board member

Steel Dynamics Inc., Fort Wayne, Indiana, has appointed Luis M. Sierra as an independent member of the company’s board of directors. Sierra will serve the board for a one-year term ending in 2022, coinciding with the company’s regularly scheduled annual meeting of stockholders.

Sierra, 58, will serve as an independent director of Steel Dynamics and as a member of the Steel Dynamics Compensation Committee.

According to a news release from Steel Dynamics, Sierra has served as the president and CEO of Nova Chemicals Corp., a manufacturer of chemicals and plastic resins based in Calgary, Alberta, since 2020. Before this, Sierra spent more than 30 years at London-based BP, holding various leadership positions, including the president of BP Aromatics, Americas, Europe and the Middle East, as well as CEO of BP Global Aromatics, a $5 billion global chemicals business.     

The company says Sierra has a strong background in industrial and international operations, commercial and organizational strategy and financial acumen. Sierra also has worked extensively outside of the United States and is bilingual, speaking Spanish. He holds a bachelor’s degree in mechanical engineering from the University of Florida, a master’s degree in mechanical engineering from Georgia Institute of Technology and an MBA in business administration from the University of Chicago.

Steel Dynamics says he does not sit on any other public company boards.