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BlueScope Steel Announces Retirement of Non-Executive Director

02/15/2013 - BlueScope Steel Limited announced that non-executive director, Ms. Diane Grady, has retired from the Board.

BlueScope Steel Limited announced that non-executive director, Ms. Diane Grady, has retired from the Board.
BlueScope Chairman, Graham Kraehe, paid tribute to Ms Grady’s long term contribution. “Diane Grady was a foundation Board member of BlueScope when the company demerged from BHP Billiton in 2002. She has played an important role through a period of great change in the global steel industry when the company has grown its international businesses significantly and transformed its Australian business to meet a range of challenging external factors. Ms Grady has made particular contributions in areas such as improving the company’s customer and market focus and strategic growth initiatives and she has contributed to people and remuneration strategy through her role as chair of the remuneration and organization committee of the Board.”
Ms Grady said, “Being a director of BlueScope has been one of the most stimulating and challenging Board roles. Our businesses in Australia have grappled with major issues confronting the nation—soaring commodity prices, the high dollar and the slowdown in building and construction markets. At the same time, we have invested in building our businesses throughout Asia and the USA giving the company an excellent advantage in important growth markets. I’d like to pay tribute to my Board colleagues and the senior leadership team for their tenacity in guiding the company through such a difficult period. We have had an open and collegial Board that has worked together well and I am confident that BlueScope is now in a position to grow and achieve positive results for its shareholders, customers and employees.”
With the foundation for future growth established, and the retirement of Ms. Grady, the Board continues its renewal program that commenced with the appointments of Ken Dean in 2009 and Penny Bingham-Hall in 2011.   Ms. Bingham-Hall joined the remuneration and organization committee early last year and participated in meetings with shareholders and investors to discuss the company’s Remuneration strategy so is well qualified to take over as chair of the committee.