Steel Mills
Saikat Dey New CEO at Severstal North America
Written by John Packard
September 3, 2013
DEARBORN, Mich. September 3, 2013 – Severstal, one of the world’s largest steel and mining companies, today announced it has appointed Saikat Dey Chief Executive Officer of its subsidiary Severstal North America (“SNA”), a leading flat rolled steel producer in the U.S. Dey replaces Sergei Kuznetsov, who departed after four years as CEO of the company.
Alexey Mordashov, CEO of OAO Severstal commented, “The new leadership of Severstal North America will remain committed toward increasing efficiencies, lowering costs and achieving competitive advantages in the North American market.”
Mordashov and the Management Board of OAO Severstal expressed their gratitude to Kuznetsov for his long-standing commitment to the company and contribution to its success.
Dey said, “I am humbled and honored to be working alongside a great team of people at Severstal and having the opportunity to serve our customers with the highest quality products and exceptional service. I look forward to working closely with our talented workforce, valued customers and suppliers, and our surrounding communities to help take Severstal North America to the next level of performance and build on the solid foundation that Sergei helped establish.”
Dey, most recently served as Chief Strategy and Procurement Officer at SNA. He was responsible for driving the company’s business strategies in North America, leading OAO Severstal’s expansion efforts in Asia and overseeing the Purchasing function of SNA.
Dey joined the company in 2011 from McKinsey and Company, where he was Associate Principal in the Global Energy and Materials practice. Prior to McKinsey, he held positions at IBM and a number of start-up technology companies in various sales and product marketing roles.
He is widely recognized as a global thought leader on investment strategies, commercial optimization and operational improvement within steel and mining industries.
Dey holds an MBA from the Tuck School of Business at Dartmouth and an undergraduate degree in Mining Engineering from the National Institute of Technology in India. (Source: Severstal Press Release)
John Packard
Read more from John PackardLatest in Steel Mills
Nucor guides to lower first-quarter results
Nucor anticipates showing an earnings decline when it releases its full first-quarter earnings report on Monday, April 28.
U.S. Steel anticipates a loss in first quarter
The Pittsburgh steelmaker expects to see increasing volumes from both Big River Steel and Big River 2.
CMC earnings fall on seasonal weakness, economy woes
CMC’s earnings tumbled in its fiscal second quarter on seasonal weakness and continued shakiness in the wider economy.
Government seeks extension in USS-Nippon lawsuit as talks continue
The government said it hopes to reach an agreement with the two companies outside of the courts, according to a filing last week.
Toyota Tsusho America to acquire Radius Recycling for $1.34 billion
The companies said Thursday that Radius shareholders will receive $30 per share in cash upon the deal’s closing, which is expected in the second half of this year.