Steel Products

Worthington Enterprises taps Hayek as president, CEO
Written by Ethan Bernard
October 8, 2024
Worthington Enterprises has named Joseph Hayek as the company’s next president and CEO, effective Nov. 1. He will replace Andy Rose, who is retiring.
Hayek has served as the Columbus, Ohio-based company’s EVP and chief financial and operations officer since December 2023.
Recall that Worthington Industries split into two standalone, public companies on Dec. 1 of last year: Worthington Enterprises and Worthington Steel. Worthington Enterprises focuses on building products, consumer products, and sustainable energy solutions. Meanwhile, Worthington Steel specializes in steel processing, electrical steel lamination, and tailor welding.
Before the split, Hayek served as Worthington Industries’ VP and CFO from November 2018 to November 2023.
“We expect a seamless and effective transition as Joe has earned the respect of the board, our employees and the investment community,” Worthington Enterprises Chairman of the Board John Blystone said in a statement on Tuesday.
Regarding Rose’s retirement, Blystone said: “On behalf of the board, I would like to thank Andy for his contributions to Worthington over his 16 years with the company and four years as CEO.”
“I would particularly like to recognize the role he played successfully leading the team that separated Worthington Industries into two independent public companies,” he added.
Souza VP and CFO
At the same time, Worthington Enterprises announced Colin Souza will become VP and CFO of the company, also effective Nov. 1. He is currently VP of finance, overseeing financial planning and analysis, corporate development, M&A, and corporate strategy and innovation.

Ethan Bernard
Read more from Ethan BernardLatest in Steel Products

Market says cutting interest rates will spur stalled domestic plate demand
Market sources say demand for domestic plate refuses to budge despite stagnating prices.

U.S. Steel to halt slab conversion at Granite City Works
U.S. Steel said it plans to reduce slab consumption at its Granite City Works near St. Louis, a company spokesperson said on Monday. The Pittsburgh-based steelmaker will shift the production and processing of steel slabs to its Mon Valley Works near Pittsburgh and its Gary Works near Chicago. Citing a United Steelworkers (USW) union memo, […]

SMU Week in Review: September 1-5
Here are highlights of what’s happened this past week and a few upcoming things to keep an eye on.

HR Futures: Market finds footing on supply-side mechanics
As Labor Day marks the transition into fall, the steel market enters September with a similar sense of change. Supply-side fundamentals are beginning to show signs of restraint: imports are limited, outages loom, and production is capped, setting the stage for a market that feels steady on the surface but still unsettled underneath.

Beige Book: US markets remain cautious amidst volatile pricing environment
Sluggish economic activity across the US was largely attributed to uncertainty caused by tariff policies and growing cost pressures, according to the US Federal Reserve’s (The Fed) latest Beige Book report. The Fed’s latest economic report, posted on Sept. 3, consists of economic findings from the six weeks preceding Aug. 25 throughout 12 districts. Economic […]