Severstal eyes profitability, sustainability
Oct 03, 2013 | 04:45 PM
| Catherine Ngai
NEW YORK The new management team at Severstal North America LLC has set its sights on making the steelmaker more profitable and sustainable, according to its top executive.
"Weve come to the realization, quickly, that ... the needs of the business have kind of moved on from what they used to be a couple of years back," Saikat Dey, the Dearborn, Mich.-based steelmakers new chief executive officer, told reporters during an Oct. 3 conference call. "I dont think of it (management changes) as a new direction, but a prioritization of our focus."
Severstal NA has seen a major overhaul of its executive team in recent weeks, including the departure of then-chief executive officer Sergei Kuznetsov (amm.com, Sept. 3). Dey said the moves reflect a changing marketplace, particularly because the old team worked on larger capital-intensive projects and the new team will work on profitability and cost savings. ....
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