DEARBORN — Severstal North America announced the appointment of Saikat Dey as its new chief executive officer on Tuesday.
Dey replaces Sergei Kuznetsov, who left the steel and mining company after four years.
"The new leadership of Severstal North America will remain committed toward increasing efficiencies, lowering costs and achieving competitive advantages in the North American market," said Severstal CEO Alexey Mordashov in a written statement.
Prior to his appointment as CEO, Dey served as chief strategy and procurement officer with the company since December 2012. He was responsible for driving the company’s business strategies in North America, leading Severstal’s expansion efforts in Asia and overseeing the purchasing function of Severstal North America.
“I am humbled and honored to be working alongside a great team of people at Severstal and having the opportunity to serve our customers with the highest quality products and exceptional service," Dey said. "I look forward to working closely with our talented workforce, valued customers and suppliers, and our surrounding communities to help take Severstal North America to the next level of performance and build on the solid foundation that Sergei helped establish.”
Dey joined the company in 2011 from McKinsey and Company, where he was associate principal in the global energy and materials practice. Prior to McKinsey, he held positions at IBM and several start-up technology companies in various sales and product marketing roles.
Dey holds a Master of Business Administration degree from the Tuck School of Business at Dartmouth College and an undergraduate degree in mining engineering from the National Institute of Technology in India.
Citing a "significant decline in the market," Severstal announced in July its
plans to close the Double Eagle steel plant in Dearborn by 2015.
The plant supplies electrogalvanized steel products for the auto industry and employees roughly 126 workers.