SDI names Millett to chair board

Electric arc furnace steelmaker Steel Dynamics Inc. (SDI) has announced that Mark D. Millett, a company founder and its president and chief executive officer, also will serve as the chairman of the board, effective immediately. The Fort Wayne, Indiana-based company says that pursuant to its corporate governance policies, Keith E. Busse, also a company founder, has stepped down from his role as chairman of the board to ensure an orderly transition. Busse remains a director, while James C. Marcuccilli will remain the SDI’s lead independent director.  

Busse served as CEO of SDI until 2011, when he retired from the company. 

"Mark has done a tremendous job leading the company," Busse says in the news release announcing Millett’s appointment to board chairman. "He has a clear strategic vision for Steel Dynamics and has demonstrated effective execution of this strategy. I believe Mark and the Steel Dynamics team will propel the company forward through the next stage of growth. I am pleased to remain a director of the board and to continue to participate in the great strides and opportunities we expect for the future."

Millett says, "On behalf of the board of directors, we would like to sincerely thank Keith for his contributions and valuable insights while serving since inception as our chairman of the board. His expertise in the industry, multitude of business relationships and wise judgment have been instrumental in guiding Steel Dynamics through many business and developmental milestones. I look forward to continuing to work closely with Keith as a director of our board."