Louis L. Schorsch of Mittal Steel USA Elected New AISI Chairman

Lou Schorsch (here with Tim Timken of The Timken Company) will assume his chairmanship on April 1, 2006

AISI's Board of Directors has elected Louis L. Schorsch, president and chief executive officer of Mittal Steel USA as Chairman. He will succeed John P. Surma, chairman and CEO of U.S. Steel Corporation. Beginning in 2007, officers of the Institute will be installed each year at the AISI General Meeting traditionally held in May.

"AISI is committed to the development of a sustainable North American steel industry, one built on strong financial performance, environmental solutions and progressive social contributions," Andrew G. Sharkey, III president and CEO of AISI said. "Lou Schorsch brings excellent leadership skills to this effort as a revitalized industry seeks to expand markets for North American steel and increase the North American share of the steel market."

When Schorsch assumes the AISI chairmanship on April 1, Surma will then serve as an AISI vice chairman. The Board has also elected as vice chairmen of the Institute the following: Donald A. Pether, president and CEO, Dofasco Inc.; and Guillermo F. Vogel, H., vice chairman of the Board, Tubos de Acero de Mexico, S.A.

Sharkey said Schorsch supports the role that AISI provides in driving initiatives that are best done through the collective focus of a strong trade association, such as AISI. For example, the collaborative work that AISI's Market Development programs are doing in expanding markets and applications for steel could not be done on a single company basis.

"Lou has a strong sense for what we can achieve and will help lead us in that vision," Sharkey said.

Sharkey said Schorsch's leadership will enhance AISI's efforts on behalf of its members toward advancing a pro-manufacturing agenda, including defending, preserving and enhancing the trade laws.

"This is a policy area that John Surma has made a priority as AISI has urged the Administration and Congress to provide the highest level of scrutiny and oversight to ongoing international trade negotiations, ensuring that they include no trade law weakening provisions of any kind," Sharkey said. "To that end, John has been tireless in speaking out to policymakers on the critical need to strictly enforce our trade laws and address foreign government steel subsidies that are detrimental to the ability for free and fair trade to flourish," he said.

"I look forward to working closely with Lou Schorsch during the leadership transition to carry the Institute's public policy priorities forward, including the quest for access to affordable and available energy supplies and other measures necessary to level the playing field for North American steel producers," Surma said.

"We will also work with other industry groups to strengthen and preserve fair trade rules and get governments out of the steel business," Schorsch said. "If we want a healthy industry, a reasonable return on investment and sustainable conditions, we need to let market forces work."

Louis L. Schorsch was named president of Mittal Steel USA, the U.S. subsidiary of Mittal Steel Co, in January 2006, having been selected as the company's chief executive officer in April 2005. He had been president and chief executive officer of Ispat Inland, a predecessor company, since October 2003.

Schorsch had joined the LNM Group in March 2003 and was involved in the group's export activities before taking over Ispat Inland's leadership. Mittal Steel USA acquired International Steel Group and merged it with Ispat Inland. Schorsch had spent most of his career as an analyst of the steel industry and a consultant to steelmakers all over the world.

He was a principal with McKinsey & Company, a management consulting firm that advises the top management of leading companies and institutions on issues of strategy, organization, technology and operations for 15 years. As a co-leader of the firm's metals practice, he worked directly with senior steel executives at companies around the world.

Earlier in his career, he had been senior economist for AISI and an analyst in the U.S. Congressional Budget Office. And after leaving McKinsey in 2000, he was president and CEO of Global Steel Exchange. Schorsch holds a bachelor's degree from Georgetown University and a doctorate in economics from American University, both in Washington, DC. For more information, contact Satura Bridgewater.