Steel Dynamics Appoints New President, CEO

The board of directors for Steel Dynamics Inc. (SDI), Fort Wayne, Ind., have appointed Mark Millett to president and CEO, effective Jan. 1, 2012. Millett, a director and co-founder of the company, currently serves as president and COO of SDI. 

Keith Busse, co-founder of SDI, will continue to serve as chairman and CEO through Dec. 31, 2011, and will then serve as chairman of SDI’s board of directors. He also will provide consulting services to the company.

"This promotion of Mark represents the successful culmination of the company's long-term succession plan and signifies the high degree of confidence in Mark, shared by both the board and senior management,” Joseph Ruffolo, SDI’s lead independent director, says. “Mark has held many leadership roles in the steel industry since 1981, and has provided excellent leadership since the founding of Steel Dynamics. We are indebted to Keith both for his vision and outstanding leadership during the company's first 18 years.”

"It is an honor to be given the opportunity to lead SDI forward and build upon our collective accomplishments achieved to date," Millett says. "I am convinced that our unique culture and remarkable team can further leverage our assets to drive even greater value for our customers and shareholders. I am gratified to our board for their confidence in me, and I look forward to the exciting challenges of leading our exceptional management team and our 6,300 employees to even greater successes."

Prior to his appointment as president and COO, Millett was the executive vice president of metals recycling and ferrous resources and president and COO of OmniSource Corp.