Steel Mills
February 16, 2016
Steel Dynamics Announces Management Changes
Written by John Packard
FORT WAYNE, Ind., Feb. 16, 2016 /PRNewswire/ — Steel Dynamics, Inc. (NASDAQ/GS: STLD) today announced the creation of three new leadership positions which will coincide with the retirement of Richard P. Teets, Jr., a co-founder of the company and its Executive Vice President of Steelmaking, and President and Chief Operating Officer of Steel Operations. Effective March 31, 2016, Mr. Teets will retire from his current position, but will remain a valuable member of the company’s board of directors. He will also provide consulting services to the company through the end of 2016.
“Dick and I have worked together for decades and he has played a key role in SDI’s success, as a co-founder of Steel Dynamics along with Keith Busse and myself, a member of the board and an outstanding leader of people,” said Mark D. Millett, chief executive officer. “We are all indebted to Dick, and I, along with our board of directors, recognize and appreciate his contributions to the company and the industry in general. Dick’s engineering talent, operating knowledge and negotiating ability have touched every aspect of the company’s operations, creating novel approaches to problem solving and unique business models that help to differentiate us from our peers and drive superior performance. Throughout the years, Dick has led the Steel Manufacturers Association and the Association of Iron and Steel Technology, and has played key roles in numerous other industry organizations. Dick also contributes to our community through being an adjunct professor for the business school at the University of Saint Francis and currently sits on the boards of Manchester University and the AWS Foundation. We wish Dick all the best in his next adventure.
