Building the Wagler Era: Steel Dynamics Elevates Key Leaders for Next Chapter

FORT WAYNE, Ind. – October 19, 2026 – In the landscape of American manufacturing, the true measure of institutional innovation isn't merely found in the adoption of new technologies or the acquisition of new assets. More often, it is discovered in how an organization cultivates its people. Today, Steel Dynamics, Inc. (NASDAQ/GS: STLD) offered a compelling blueprint for this kind of sustainable growth, announcing a sweeping series of senior leadership promotions that underscore a deep commitment to internal talent development and long-term strategic continuity.

As the company prepares for a historic executive transition—with incoming President and Chief Executive Officer Theresa E. Wagler set to take the helm on January 1, 2027—these latest appointments signal a deliberate fortifying of the ranks. By elevating six company veterans to vice president and senior vice president roles, the steelmaking and metal recycling giant is ensuring that its next chapter is written by the very architects who helped build its current foundation.

The Wagler Era Takes Shape

The promotions announced today are the latest, and perhaps most granular, steps in a comprehensive leadership realignment that began in August 2026. That late-summer announcement set the stage for a generational shift at the Fort Wayne-based company. Mark D. Millett, a co-founder who has guided the enterprise as CEO since 2012 through a period of unprecedented transformational growth, will transition to Executive Chairman at the end of the year. Wagler, who has spent 28 years at the company and served as Chief Financial Officer since 2007, was the unanimous choice to succeed him.

To understand the significance of today's appointments, one must look at the tenure of the individuals being elevated. The six leaders stepping into new roles boast between 12 and 29 years of experience within the organization. In an era where corporate C-suites frequently feature a revolving door of external hires, this reliance on homegrown expertise is a powerful statement about the company's internal culture and its dedication to putting people first.

"I am excited to recognize these six leaders for their outstanding contributions to our company's continued growth and success," Wagler noted in the official announcement. "Through their leadership, commitment to excellence, and dedication to our strategic pillars, they exemplify our culture of safety, performance, innovation, and putting people first. I am pleased that our ongoing talent development process has provided outstanding experienced individuals to further strengthen our leadership teams as we execute our long-term growth strategy."

Effective October 1, 2026, three key figures stepped into Senior Vice President roles, while three additional leadership transitions will take effect on November 1, aligning operational oversight with the broader executive shifts.

Flexing Operational Muscle in a Shifting Market

The steel market is notoriously cyclical, demanding a delicate balance of upstream production efficiency and downstream value-add capabilities. Steel Dynamics has consistently navigated this by integrating its operations, a strategy clearly reflected in its record-breaking third-quarter 2026 performance, which saw steel shipments hit 3.8 million tons and net sales reach $6.5 billion.

Driving this operational muscle are newly minted Senior Vice Presidents Chad Bickford and William T. (Tommy) Scruggs. Bickford, who has been with the company since 2003, steps into the role of Senior Vice President, Steel Fabrication. Having led the fabrication platform since 2024, his promotion recognizes his strategic influence over the company's broader growth initiatives. His background, spanning the Salem fabrication, Engineered Bar Products, and Butler Flat Roll divisions, provides a holistic view of the manufacturing lifecycle.

Similarly, Scruggs has been named Senior Vice President, Flat Rolled Commercial and Processing. His promotion is a nod to his critical role in the company's commercial strategy since 2015. Notably, Scruggs provides oversight for flat-rolled processing locations, including the recently acquired New Process Steel operations. As the company expands its value-added coating and processing footprint, Scruggs's two decades of commercial expertise will be vital in translating production capacity into market dominance.

The operational realignment continues with appointments effective November 1. Daniel Keown becomes Senior Vice President, Flat Rolled Steel Production, assuming oversight of three massive production facilities in Indiana, Mississippi, and Texas. Keown, a 28-year veteran who started as a Process Engineer, will report to Christopher Graham, the EVP and Chief Operating Officer of Flat Rolled Steel Operations.

On the long products side, Yury Krotov has been named Vice President, Long Products Steel Operations. Krotov will oversee four mills producing everything from structural beams to railroad rail and rebar. Reporting to James Anderson, EVP and Chief Operating Officer of Construction Products Operations, Krotov brings a process engineering background and extensive management experience from both steel and fabrication facilities to a sector deeply tied to national infrastructure renewal.

Greening the Electric Arc

Perhaps the most forward-looking of today's announcements is the elevation of Jeff Hansen to Senior Vice President, Environmental Sustainability and Energy. As heavy industries face mounting pressure to decarbonize, Steel Dynamics has leaned heavily into its circular manufacturing model, utilizing electric arc furnaces that rely primarily on recycled scrap metal.

But the company is pushing beyond the inherent advantages of recycling technology. Since 2021, Hansen has spearheaded the organization's decarbonization objectives and related capital investments. His promotion signals that environmental sustainability is no longer a peripheral compliance issue but a core pillar of the overarching business strategy.

Under Hansen's purview is the oversight of the company's highly anticipated renewable biocarbon production facility. This initiative represents a critical frontier in sustainable steelmaking, aiming to replace traditional carbon sources with renewable alternatives. By retaining his current responsibilities while gaining additional influence over the broader energy strategy, Hansen is positioned to ensure that the company's environmental goals—which include ambitious greenhouse gas reduction targets—are seamlessly integrated with its operational expansion. This alignment of ecological stewardship and industrial might is exactly the kind of institutional innovation required to secure a more equitable and connected future for the communities in which these facilities operate.

Financial Stewardship for the Next Decade

Behind the operational expansion and sustainability investments lies the necessity of rigorous capital allocation. Completing the slate of promotions is Dominic Freiburger, who has been named Vice President, Treasurer, effective November 1.

Freiburger's appointment is deeply intertwined with the broader C-suite transition. He will report to Richard A. Poinsatte, the current EVP and Treasurer who is slated to succeed Wagler as Chief Financial Officer in January. Since joining the organization in 2012 following a decade at Intel Corporation, Freiburger has steadily taken on increasing responsibilities within finance and treasury.

In his new role, Freiburger will oversee cash management, investments, capital structure strategy, and risk mitigation. This is no small task for a company that just reported $1.0 billion in operating income and $846 million in cash flow from operations for a single quarter. His stewardship will be essential in funding the next generation of capital projects—from biocarbon facilities to aluminum flat-rolled expansions—while maintaining the robust dividend programs and shareholder returns that investors have come to expect. The seamless handoff of treasury functions from Poinsatte to Freiburger exemplifies the careful, deliberate succession planning that has defined this entire transitional period.