California Steel Industries (CSI) announced today that Marcelo Botelho will become President and Chief Executive Officer effective August 1, 2016, replacing Toshiyuki Tamai, who is retiring after 43 years in the steel industry in Japan and the United States.
The company also announced Tadaaki Yamaguchi will replace Pedro Rodrigues as Chairman of the Board of Directors, and Scott Starr will replace Harold Allin as Executive Vice President, Operations, also effective August 1.
CSI's two shareholders are Vale S.A. (Vale); and JFE Steel Corporation (JFE) of Japan. Each shareholder owns 50 percent of the shares of CSI. The leadership changes follow a longstanding practice where one shareholder company has appointed the CEO and the other the Chairman of the Board position, and then vice versa upon the next rotation.
CSI's two shareholders are Vale S.A. (Vale); and JFE Steel Corporation (JFE) of Japan. Each shareholder owns 50 percent of the shares of CSI. The leadership changes follow a longstanding practice where one shareholder company has appointed the CEO and the other the Chairman of the Board position, and then vice versa upon the next rotation.