TimkenSteel Elects Two New Independent Directors
TimkenSteel Corporation (NYSE: TMST) announced the election of two new independent directors: Mary Ellen Baker, former EVP at Citizens Bank, and Nick Chirekos, retired managing director at J.P. Morgan. Their expertise in technology, business transformation, and investment banking is expected to enhance the board's strategic growth initiatives. Baker brings extensive experience in technology transformations, while Chirekos has a strong background in the mining sector and M&A. The company, a leading manufacturer of high-performance steel products, recorded sales of $1.3 billion in 2021.
- Appointment of Mary Ellen Baker and Nick Chirekos adds significant industry expertise to the board.
- Baker's experience in technology and operations can drive digital transformation.
- Chirekos' background in investment banking and M&A is beneficial for strategic growth.
- None.
CANTON, Ohio, Nov. 2, 2022 /PRNewswire/ -- TimkenSteel Corp. (NYSE: TMST) – The board of directors of TimkenSteel Corporation today elected Mary Ellen Baker, retired executive vice president and head of business services for Citizens Bank, and Nick Chirekos, retired managing director, North America head of mining for J.P. Morgan, as new independent directors. They join nine directors currently serving on the TimkenSteel board.
"Both are exceptional leaders, and their proven expertise in technology, cybersecurity, business transformation, investment banking, capital markets and mergers and acquisitions aligns well with TimkenSteel's strategic priorities for growth and complements the board's shared knowledge and experience in several key areas of emphasis," said Ron Rice, chairman of TimkenSteel's board. "We are fortunate to have Mary Ellen and Nick further strengthen our board and look forward to their insights."
Baker is a retired banking executive with deep experience in leading technology and operations teams as well as managing major organizational change. She has successfully facilitated large-scale technology transformations, merger integrations, and her knowledge of operations, cybersecurity, data & analytics has supported corporate growth. She most recently served as executive vice president and head of business services for Citizens Bank, where she was recognized by American Banker's Most Powerful Women as a standout in her field. Previously, Baker was executive vice president of enterprise services at PNC Financial Services Group, Inc.. She holds a bachelor's degree in business administration from Western Michigan University.
Chirekos has an extensive background in investment banking and capital markets, with a focus on the mining industry. He served in various investment banking roles at J.P. Morgan Securities Inc., most recently as the managing director, North America head of mining. Prior to that, he served as the global head of mining and metals. Chirekos has established himself as a trusted strategic advisor to senior leadership and brings extensive expertise in mergers and acquisitions as well as equity and debt transactions. He received a master of business administration in finance and international business from New York University's Stern School of Business and a bachelor's degree in business administration from the University of Denver.
TimkenSteel (NYSE: TMST) manufactures high-performance carbon and alloy steel products from recycled scrap metal in Canton, OH, serving demanding applications in mobile, energy and a variety of industrial end markets. The company is a premier U.S. producer of alloy steel bars (up to 16 inches in diameter), seamless mechanical tubing and manufactured components. In the business of making high-quality steel for more than 100 years, TimkenSteel's proven expertise contributes to the performance of our customers' products. The company employs approximately 1,725 people and had sales of
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SOURCE TimkenSteel Corp.
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