Cultural shift bears fruit for Severstal

May 07, 2014 | 05:24 PM | Thorsten Schier

Tags  Severstal, Saikat Dey, American Iron and Steel Institute, Thorsten Schier

NEW YORK — A cultural shift that started when a new executive team was introduced at Severstal North America Inc. last year has borne fruit, with the company logging significantly improved results the past two quarters.

Increased transparency, improved commercial focus and tight cost controls are hallmarks of new chief executive officer Saikat Dey, who was named to the top job after serving as chief strategy and procurement officer at the Dearborn, Mich.-based company.

Old management privileges were torn down: an executive parking garage now serves as a basketball court, and vice presidents are encouraged to walk the factory floor at least once every two weeks, leading to "a renewed focus and vigor in how we approach markets and how we approach our customers," Dey told AMM on the sidelines of the American Iron and Steel institute’s annual general meeting in Scottsdale, Ariz.....

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