SunCoke Energy Appoints Seasoned Steel Executive to its Helm
11/10/2017 - A veteran steel industry executive will succeed SunCoke Energy Inc. chairman and chief executive Frederick “Fritz” A. Henderson, who announced on Friday that he will retire at the end of the month.
In a statement, the company said it has named Michael G. Rippey to take on Henderson’s responsibilities as president and chief executive, effective 1 December. Rippey, 60, served as president and chief executive of ArcelorMittal USA from 2006 to 2014. He currently is a senior adviser to Nippon Steel & Sumitomo Metal Corp.
SunCoke said Rippey is an accomplished senior executive who has a "wealth of finance, sales, operations and management experience in the metals industry."
"He has successfully dealt with dynamic and challenging business environments and, as a past executive officer and chairman of ArcelorMittal USA, he has an intimate knowledge and understanding of the challenges and opportunities facing SunCoke as it continues to serve the steel industry," the company said.
Henderson, a former executive with General Motors and Sunoco, has served as SunCoke chairman and chief executive since December 2010.
"It has been a privilege to serve as president, CEO and chairman, leading SunCoke Energy Partners through its IPO, building sustainable profitability in our core coke production business, diversifying our revenues and customer base into a profitable logistics business, and using cash flow judiciously to benefit unitholders," Henderson said.
Henderson called Rippey a proven and successful leader.
"Mike's reputation for strategic and tactical direction, managing a major manufacturing enterprise, speaks for itself," he said.
"With his qualifications and clear record of accomplishment, Mike is ideally suited to position SunCoke for future success."
Although the transition is effective 1 December, Henderson will continue to serve as SunCoke‘s executive chairman until 31 December, when he will step down from the board.
SunCoke lead director John W. Rowe will step into the role as non-executive chairman effective 1 January 2018.
Rippey also will serve as chairman, president and chief executive SunCoke’s master limited partnership, SunCoke Energy Partners.
SunCoke said Rippey is an accomplished senior executive who has a "wealth of finance, sales, operations and management experience in the metals industry."
"He has successfully dealt with dynamic and challenging business environments and, as a past executive officer and chairman of ArcelorMittal USA, he has an intimate knowledge and understanding of the challenges and opportunities facing SunCoke as it continues to serve the steel industry," the company said.
Henderson, a former executive with General Motors and Sunoco, has served as SunCoke chairman and chief executive since December 2010.
"It has been a privilege to serve as president, CEO and chairman, leading SunCoke Energy Partners through its IPO, building sustainable profitability in our core coke production business, diversifying our revenues and customer base into a profitable logistics business, and using cash flow judiciously to benefit unitholders," Henderson said.
Henderson called Rippey a proven and successful leader.
"Mike's reputation for strategic and tactical direction, managing a major manufacturing enterprise, speaks for itself," he said.
"With his qualifications and clear record of accomplishment, Mike is ideally suited to position SunCoke for future success."
Although the transition is effective 1 December, Henderson will continue to serve as SunCoke‘s executive chairman until 31 December, when he will step down from the board.
SunCoke lead director John W. Rowe will step into the role as non-executive chairman effective 1 January 2018.
Rippey also will serve as chairman, president and chief executive SunCoke’s master limited partnership, SunCoke Energy Partners.
