AK Steel’s James L. Wainscott Elected New AISI Chairman

Washington, D.C., January 9, 2009 – The Board of Directors of the American Iron and Steel Institute (AISI) has elected James L. Wainscott, chairman, president and CEO of AK Steel Corporation, to serve as chairman of the Institute until May of 2010.

“We welcome Jim’s leadership at a critical time for the North American steel industry,” AISI President and CEO Thomas J. Gibson said.  “Jim’s skills in gaining consensus on diverse issues before the industry, fiscal responsibility and effective advocacy will greatly benefit AISI and our members.”

The appointment was made today by the AISI board following the resignation of Steel Dynamics, Inc. (SDI) from the Institute.  Keith E. Busse, chairman and CEO of SDI, had been serving as chairman of AISI for the 2008-2009 term.

“We appreciate Keith Busse’s service to AISI and we wish the best for him and all SDI employees,” Mr. Gibson said.

In his role as chairman, Mr. Wainscott will be a leading spokesman for the industry on issues such as the need to strengthen pro-manufacturing public policies as part of America’s economic revitalization and maintaining the competitiveness of the North American steel industry.  He previously served as chairman of the Institute’s Policy and Planning Committee, as well as its Finance Committee. 

“The opportunity to serve as chair of AISI comes at a crucial time when we need to aggressively advocate on behalf of the North American steel industry,” Mr. Wainscott said. “Like other industries impacted by the global recession, America’s steel industry supports swift implementation of an economic stimulus package.  The package should support and stimulate infrastructure projects to jumpstart recovery and fuel job growth.  We are a globally competitive, resilient industry and we look forward to working with the incoming Administration and Congress to help shape America’s economic revitalization.”

Mr. Wainscott has served the steel industry for more than 25 years, beginning in 1982 with the Midwest division of the former National Steel Corporation.  He held a number of positions for National Steel at the division and corporate headquarters. 

Mr. Wainscott joined AK Steel as vice president and treasurer in 1995, and was named chief financial officer in 1998.  In 2003, he was named president, CEO and a member of the board of directors of AK Steel, and in January of 2006 he was named chairman of the board of directors.    Under Mr. Wainscott’s leadership, AK Steel has achieved a dramatic turnaround to become a financially solid and globally competitive steelmaker.     

In addition to his service to AISI, he is a member of the Business Roundtable and is a past board member of the Specialty Steel Industry of North America.  He is vice chairman of the board of directors of the Good Samaritan Hospital (Cincinnati) Foundation and a member of the board of trustees of the Cincinnati Zoo and the Anthony Muñoz Foundation.    He and his wife, Darla, currently serve as co-chairs of the Campaign for Excellence for the Children’s Home of Cincinnati.

Mr. Wainscott holds a Bachelor of Science degree in accounting from Ball State University, and a Master of Business Administration degree from the University of Notre Dame.

AK Steel produces flat-rolled carbon, stainless and electrical steels, primarily for the automotive, appliance, construction and electrical power generation and distribution markets.  The company is headquartered in West Chester, Ohio with plants in Ohio, Pennsylvania, Kentucky and Indiana.  AK Tube LLC, a wholly owned subsidiary of AK Steel with plants in Ohio and Indiana, produces carbon and stainless electric resistance welded (ERW) tubular steel products for truck, automotive and other markets.

AISI serves as the voice of the North American steel industry in the public policy arena and advances the case for steel in the marketplace as the preferred material of choice.  AISI also plays a lead role in the development and application of new steels and steelmaking technology.  AISI is comprised of 25 member companies, including integrated and electric furnace steelmakers, and 138 associate and affiliate members who are suppliers to or customers of the steel industry.  AISI's member companies represent over 70 percent of both U.S. and North American steel capacity.  For more news about steel and its applications, view AISI’s Web site at www.steel.org

Nancy Gravatt
Vice President, Communications
American Iron and Steel Institute
Tel: 202.452.7115