Fort Wayne, Indiana-based steelmaker Steel Dynamics, Inc. (SDI) announced Friday that Mark D. Millett has been appointed to President and Chief Executive Officer (CEO) of the company by SDI's board of directors. Millett will replace Keith E. Busse, a co-founder of SDI who has been with the company for its first 18 years. Busse will continue to serve as Chairman and CEO through December 31, 2011 and will then serve as Chairman of SDI's board of directors and serve as a consultant for the company. SDI gave no reason for the change in management.
Busse noted "Mark has earned the full confidence of the board and management, and I am proud to transition the role of CEO of the company to him...the company is in good hands."
"It is an honor to be given the opportunity to lead SDI forward and build upon our collective accomplishments achieved to date," said Millett.