Universal & Stainless Alloy Announces New President and CEO
12/27/2007 - Universal Stainless & Alloy Products names Dennis Oates President and CEO, replacing founder Mac McAninch as Chairman and Ken Matz as President.
Universal Stainless & Alloy Products, Inc. announced that Dennis M. Oates has been named President and CEO of the company effective January 2, 2008.
Oates succeeds Clarence M. ("Mac") McAninch as CEO, and assumes the post of President from Kenneth Matz, who has left the company to pursue other opportunities. McAninch, who founded the company in 1994, will continue to serve as Chairman of the Board, and Oates will continue to serve on the company's Board of Directors, which he joined in October 2007.
"We believe that Dennis Oates is the right person to lead our company going forward,” said current Chairman and CEO Mac McAninch. “I have known Dennis for many years. He is sharp, tough and highly knowledgeable about the global specialty steel business from both the manufacturing and distribution sides of our industry. During his 33-year career in the steel industry, he has established a noteworthy record of accomplishment as a leader able to deliver significant growth in revenues and profitability through smart strategic planning and execution and by building organizational commitment and focus. His approach is consistent with the path we have taken since establishing this company thirteen years ago. His experience and abilities are ideally suited for Universal Stainless & Alloy Products."
Mr. McAninch added: "We want to thank Ken Matz for his contribution over the past year and wish him well in his future endeavors."
Dennis Oates, 55, most recently served as Senior Vice President of the Specialty Alloys Operations of Carpenter Technology, with full P&L responsibility for the $1 billion-plus business unit. Prior to joining Carpenter in 2003, Oates served for five years as President and CEO of TW Metals, a $500 million-plus metals distribution and processing company with more than 950 employees in 44 locations around the world.
Previously, Oates held the post of President and Chief Operating Officer for Connell Limited Partnership, a privately held company in metals recycling and metal fabrication. He began his steel-industry career at the former Lukens Steel Co., where he held positions of increasing responsibility, ultimately becoming President and Chief Operating Officer.
Oates is past Chairman of the North American Specialty Metals Council and has served on the Metals Service Center Institute Board of Directors. He holds a bachelor's degree in economics from the Wharton School of the University of Pennsylvania and an MBA from Temple University.
Headquartered in Bridgeville, Pa., Universal Stainless & Alloy Products manufactures and markets a broad line of semi-finished and finished specialty steels, including stainless steel, tool steel and certain other alloyed steels. The company's products are sold to rerollers, forgers, service centers, original equipment manufacturers and wire redrawers.
