NORTH AMERICA HEADLINESNorth America
AK Steel Tops Directorship Magazine's List of Best Governed Companies
Jun. 2, 2010 Directorship magazine has ranked AK Steel as best in the category of corporate governance and citizenship as part of the magazine’s 2010 list of best performing, best governed companies. The magazine is a publication of the National Association of Corporate Directors.
"Being recognized for outstanding corporate governance speaks volumes about the leadership provided by AK Steel's Board of Directors," said AK Steel Chairman, President and CEO James L. Wainscott.
To create the list, Directorship magazine selected and ranked 50 corporations from the 2009 Fortune 500 based on size, shareholder return, admiration and corporate governance. Corporate governance was evaluated using RiskMetric's corporate governance quotients and Corporate Responsibility Officer (CRO) magazine's corporate citizenship rankings. According to Directorship magazine, qualitative factors were also considered.
"It is a testament to the corporate responsibility and ethical standards that continue to help make AK Steel a successful company and solid corporate citizen," noted Wainscott.
AK Steel produces flat-rolled carbon, stainless and electrical steels, primarily for automotive, appliance, construction and electrical power generation and distribution markets. The company employs about 6200 men and women in Middletown, Mansfield, Coshocton and Zanesville, Ohio; Butler, Pa.; Ashland, Ky.; Rockport, Ind.; and its corporate headquarters in West Chester, Ohio.
AK Tube LLC, a wholly owned subsidiary of AK Steel, employs about 300 men and women in plants in Walbridge, Ohio, and Columbus, Ind. AK Tube produces carbon and stainless electric resistance welded (ERW) tubular steel products for truck, automotive and other markets.