Company Announcements
March 27, 2026
SDI says co-founder Richard Teets and Gabe Shaheen retiring from board
Written by Ethan Bernard
Steel Dynamics Inc. (SDI) has announced that Richard “Dick” P. Teets, Jr. and Gabriel L. Shaheen will be retiring from the company’s board of directors.
This is effective as of SDI’s 2026 Annual Meeting of Shareholders on May 6.
“Dick has been my partner and friend for over 35 years beginning with our pioneering of thin-slab-casting using electric-arc-furnace technology,” SDI Chairman and CEO Mark D. Millett said in a statement on Friday.
“He was instrumental to Steel Dynamics’ success – as a co founder, longtime board member, and exceptional leader,” Millett added. “Dick was a key part of developing our cultural foundation upon which our success has been built.”
Millett noted that Teets has also provided leadership across the steel industry through his work with the Steel Manufacturers Association, the Association of Iron and Steel Technology, and numerous other industry organizations.
Teets also expressed his gratitude for his time with SDI.
“From co-founding Steel Dynamics with Keith (Busse) and Mark, to building, acquiring, expanding and operating various businesses and serving on the board of directors – my time with Steel Dynamics has been a highlight of my life and it will forever be my family,” Teets said.
“As a significant shareholder, I am both confident in and excited for the company’s and its team members’ future, but am equally excited to devote my time to charitable and community-focused projects,” he added.
Gabriel Shaheen
Millett also expressed the company’s appreciation of longstanding board member Gabe Shaheen.
“Gabe’s financial acumen, strategic perspective, and thoughtful counsel have been invaluable to me and to the board throughout his many years of service and influence,” Millett said. “Please accept our sincere and personal thanks for your dedication and time.”
