Big River Steel Names New Chairman, CEO
08/20/2015 - Big River Steel, the new company building a US$1.3 billion mill in Arkansas, has named a new board chairman and appointed a new CEO following the sudden death of founder John Correnti, who held both of those positions. It also has named a new board director, the company has announced.
In the announcement, issued 20 August, Big River said David Stickler will succeed Correnti as CEO, and Dan Murray, who currently is a member of the board of directors, will move into the chairman's seat.
Additionally, Jim Bell, Big River's construction manager, was appointed to serve on the board. Bell has more than 27 years of steel industry experience and previously served as a construction and engineering manager for Severstal Columbus.
"Our investors and board of directors moved rapidly to make these appointments so that we can continue the momentum in pushing forward John’s legacy of building a growth-focused company," Stickler said in a statement. "Given the outstanding team of managers and operators John assembled, Big River Steel is well-positioned to not only complete the construction and start-up of our facility in Arkansas as scheduled, but to also pursue additional steel industry expansion opportunities as they arise.”
Stickler, who is a board member and also had been serving as Big River's chief administrative officer, is the senior managing director at Global Principal Partners, an investment and advisory firm that put together the financing for the project. The Miami-based firm holds a 20-percent stake in Big River Steel, according to Crain's Cleveland Business.
Global Principal specializes in steel projects, and during the past 15 years, Stickler worked side-by-side with Correnti as they raised billions of dollars in capital for greenfield mills and metal projects, according to Big River.
Correnti died suddenly while in Chicago on business on 18 August. He was 68. His funeral has been set for 22 August in Blytheville, Ark., USA.
Additionally, Jim Bell, Big River's construction manager, was appointed to serve on the board. Bell has more than 27 years of steel industry experience and previously served as a construction and engineering manager for Severstal Columbus.
"Our investors and board of directors moved rapidly to make these appointments so that we can continue the momentum in pushing forward John’s legacy of building a growth-focused company," Stickler said in a statement. "Given the outstanding team of managers and operators John assembled, Big River Steel is well-positioned to not only complete the construction and start-up of our facility in Arkansas as scheduled, but to also pursue additional steel industry expansion opportunities as they arise.”
Stickler, who is a board member and also had been serving as Big River's chief administrative officer, is the senior managing director at Global Principal Partners, an investment and advisory firm that put together the financing for the project. The Miami-based firm holds a 20-percent stake in Big River Steel, according to Crain's Cleveland Business.
Global Principal specializes in steel projects, and during the past 15 years, Stickler worked side-by-side with Correnti as they raised billions of dollars in capital for greenfield mills and metal projects, according to Big River.
Correnti died suddenly while in Chicago on business on 18 August. He was 68. His funeral has been set for 22 August in Blytheville, Ark., USA.
