Ex-official at ISG takes helm at WCI

The new executive is called a strong leader who can
restore profits.

By DON SHILLING

VINDICATOR BUSINESS EDITOR

WARREN — The former chief financial officer for International Steel Group has been named president and chief executive of WCI Steel.

Leonard Anthony replaces Patrick Tatom, who resigned in July without explanation.

Anthony was an executive with ISG from 2003 until the steelmaker was acquired by ArcelorMittal in 2005. ISG was formed to buy troubled steelmakers such as LTV Corp.

After he left ISG, Anthony was named executive vice president and chief financial officer of Houston-based Dresser-Rand Corp. He resigned this past July to pursue other opportunities. Dresser-Rand makes compressors, turbines and control systems at 10 plants in the U.S. and abroad.

Jack Sights, chairman of the board at WCI, said Anthony is capable of providing strong leadership as the Warren steelmaker takes action to return to profitability.

The company recorded $16.8 million in losses in the first half of the year, which it attributed to a weakening market and lost production because of an accident and the installation of new equipment.

Since July, WCI has been run by Michael Buenzow, interim president and CEO. Buenzow is a Chicago executive who has been hired by several companies in recent years to turn around unprofitable operations.

Sights said that WCI, under Anthony’s leadership, will have increased focus on customer service, quality and cost reduction.

“We remain optimistic about our future,” Sights said.

Anthony said WCI faces considerable challenges but said the company can find solutions.

“We are committed to being faster and more aggressive in leading WCI Steel to a brighter future,” he said.

Anthony, 53, is relocating to the Warren area. He earned a bachelor’s degree in accounting from Penn State University and a master’s degree in business administration from the University of Pennsylvania.

WCI suffered another production outage last month when a fire broke out in the hydraulic control room in the company’s blast furnace. The fire occurred Nov. 9, and operations have been slowly returning to normal. The mill is expected to be at full operation over the next week, WCI said.

Also, the new walking beam furnace at the hot strip mill is expected to be in operation later this month. Previously, the startup had been expected in January. The $37 million furnace will improve surface quality of steel produced and provide hot-rolled bands in larger coil sizes.

shilling@vindy.com