TimkenSteel has named Michael S. Williams president and CEO of the Canton, Ohio-based manufacturer, the company announced Dec. 18. He has also been elected to the board of directors, effective Jan. 1, 2021.
Williams most recently served as the CEO of Bayou Steel Group, which produces structural steel and merchant bar. Earlier positions indicate a lengthy history within the steel industry, including at U.S. Steel, where his roles included senior vice president of North American Flat Rolled and senior vice president, strategic planning and business development.
Terry L. Dunlap, who has served as TimkenSteel’s interim CEO and president since Ward “Tim” Timken Jr. stepped down from the positions in October 2019, will remain on the board and resume his role as an independent director, also effective Jan. 1.
"The TimkenSteel team has worked diligently with me over the past 15 months to improve the financial results of the company, and I know Mike is prepared to build on that momentum,” Dunlap said in a press statement. “I look forward to supporting Mike and the company in my continued role as a director."
In October TimkenSteel reported its third-quarter earnings, citing net sales of $205.9 million and a net loss of $13.9 million.
