Executive Management Shuffled At National Steel
Yutaka Tanaka
On July 29, the Board of Directors of National Steel Corporation (NSC), NKK's majority-owned U.S. subsidiary, elected Yutaka Tanaka, vice chairman of the board and former NKK managing director, to the post of chairman and chief executive officer (CEO) of NSC, effective September 1.Osamu Sawaragi, who has been NSC's chairman and CEO since August 1996, will step down but continue to serve as a director on NSC's board. The NSC board also appointed Glenn H. Gage to the position of senior vice president and chief financial officer (CFO), effective August 1. Mr. Gage was formerly senior vice president and CFO of Uarco Inc. and a member of Uarco's board. Prior to joining Uarco, he was a partner with Ernst & Young LLP. Mr. Tanaka, 62, moved to NSC as vice chairman in April this year, after serving as president of Adchemco Corporation, an NKK subsidiary, since July 1996. Before that, he was on NKK's board from 1990 to 1996. Joining NKK in 1960, he served in a variety of capacities mainly in the company's finance and accounting administrations. During his two-year term as chairman and CEO, Mr. Sawaragi led the way in implementing a bold restructuring program at NSC, significantly improving its productivity and profitability. He said, "I am confident in the leadership of Yutaka Tanaka and know he will continue our efforts to make NSC a profitable and competitive worldclass steel company." Headquartered in Mishawaka, Indiana, NSC is the fourth largest integrated steel company in the U.S., with annual shipments of 6 million tons of flat rolled products. |
