AK Steel Announces Senior Management Changes

West Chester, OH, May 28, 2010—AK Steel (NYSE: AKS) said that its Board of Directors has approved the promotion of several members of its executive management team and other management changes.

The executive management promotions are:

- David C. Horn, 58, to Executive Vice President, General Counsel and Secretary, from Senior Vice President, General Counsel and Secretary.

- John F. Kaloski, 60, to Executive Vice President and Operating Officer, from
Senior Vice President, Operations.

- Albert E. Ferrara, Jr., 61, to Senior Vice President, Finance and Chief Financial Officer, from Vice President, Finance and Chief Financial Officer.

Commenting on the executive management promotions, Chairman, President and Chief Executive Officer James L. Wainscott said, “Dave, John and Al have provided our company with solid leadership through the most challenging business conditions in our history.  Our company is fortunate to possess such an outstanding executive management team.”

In addition, the company announced three new vice president positions:

- Keith J. Howell, 44, Vice President, Carbon Steel Operations.

- Kirk W. Reich, 42, Vice President, Specialty Steel Operations.

- Roger K. Newport, 45, Vice President, Business Planning and Development.

With regard to the new appointments, Mr. Wainscott remarked, “Keith, Kirk and Roger have clearly demonstrated the management qualities and experience necessary to perform effectively these new executive management positions.  This new executive structure is consistent with our goals of planning for the future – both from a succession and a strategy standpoint.  I am confident these moves will help AK Steel take the company’s operating performance to new levels as we implement our long-term strategic initiatives for sustainable growth.” 

In addition, AK Steel said Richard S. Williams, 51, has been named Controller and Chief Accounting Officer, succeeding Mr. Newport in that role.  Mr. Wainscott remarked, “Rick is an outstanding accounting professional and I am delighted to have him in this role for AK Steel.”

AK Steel

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 6,200 men and women in Middletown, Mansfield, Coshocton and Zanesville, Ohio; Butler, Pennsylvania; Ashland, Kentucky; Rockport, Indiana; and its corporate headquarters in West Chester, Ohio.  Additional information about AK Steel is available on the company’s web site at www.aksteel.com.

AK Tube LLC, a wholly owned subsidiary of AK Steel, employs about 300 men and women in plants in Walbridge, Ohio and Columbus, Indiana.  AK Tube produces carbon and stainless electric resistance welded (ERW) tubular steel products for truck, automotive and other markets.  Additional information about AK Tube LLC is available on its web site at www.aktube.com.

Management biographies accompany this news release.

Executive Management Promotion Biographies

Mr. Horn continues to have responsibility for Law, Environmental Affairs and Labor Relations.  He joined AK Steel in 2000 as Assistant General Counsel, and was elected Vice President and General Counsel in 2001.  In 2003 Mr. Horn was named Corporate Secretary, and he was named Senior Vice President, General Counsel and Secretary in 2005.   Prior to joining AK Steel, Mr. Horn was a partner in the law firm of Frost Brown Todd LLC (formerly Frost & Jacobs) and was a member of the firm’s Executive Committee.  Mr. Horn is a member of the Board of Directors of the Cincinnati USA Regional Chamber of Commerce and of the Mercy Health Partners Foundation.  He is a member of the American, Ohio and Cincinnati Bar associations.  He holds a Bachelor’s degree from Yale University and a Juris Doctorate degree from the Vanderbilt University School of Law, from which he graduated Order of the Coif.

Mr. Kaloski continues to have responsibility for Operations, Engineering and Raw Materials, Manufacturing Planning and Information Technology, Primary Process Research, Quality Assurance, Outside Processing and Energy, Purchasing and Occupational Safety and Health.  He joined AK Steel in 2002 as Director, Operations Technology, with more than 30 years of steel industry experience.  He was named Vice President, Operations in 2003, and assumed the additional responsibilities for Quality Assurance, Purchasing, Engineering and Supply Chain Management in 2004.  In 2005 he was named Senior Vice President, Operations.  Prior to joining AK Steel, Mr. Kaloski was Senior Vice President, Commercial and Planning for the former National Steel Corporation.  Prior to National Steel, Mr. Kaloski held management positions for U.S. Steel Corporation.  He is a member of the Board of Directors of the Cincinnati Zoo.  Mr. Kaloski holds a Bachelor of Science degree in business from the University of Pittsburgh and a Master of Business Administration degree from Robert Morris College.  

Mr. Ferrara continues to have responsibility for Controlling, Financial Planning and Analysis, Cost Accounting, Treasury, Investor Relations and Diversified Business Group, which includes AK Tube, LLC, and AFSG and NNIC, the company’s discontinued insurance and finance leasing businesses.  Mr. Ferrara joined AK Steel as Director, Strategic Planning in 2003 and was named Vice President, Finance and Chief Financial Officer later that year.  He previously had more than 30 years of experience with NS Group and U.S. Steel Corporation, holding a number of senior level positions.  He is an Advisory Board member of the University of Virginia’s McIntire School of Commerce and is active in Scouting.  He holds a Bachelor’s degree in Finance and a Juris Doctorate, both from the University of Virginia.

New Management Position Biographies

Mr. Howell joined AK Steel in 1997 at the Middletown Works where he managed the Steelmaking, Aluminized and Cold Mill departments.  He was named General Manager, Operations, Ashland Works in 2001, General Manager, Operations, Middletown Works in 2003, and General Manager, Operations, Butler Works in 2005.  He advanced to Director, Engineering and Raw Materials in 2009.   Prior to joining AK Steel, Mr. Howell had ten years of operating experience with U.S. Steel.  Mr. Howell holds a Bachelor of Science degree in Metallurgical Engineering from the University of Pittsburgh and a MBA degree from The Ohio State University.  In his new position, Mr. Howell will continue to report to Mr. Kaloski.

Mr. Reich joined AK Steel in 1989 at Middletown Works as an engineering co-op student.  He progressed through several assignments in Engineering and was named Technical Manager in 1995.  He served as Manager for the Processing and Shipping, Annealing, Mobile Maintenance and Hot Strip Mill departments.  He has also been Manager of the Cold Mill, Temper Mill and Anneal departments at Rockport Works.  He was named General Manager, Operations, Mansfield Works in 2000, and General Manager, Middletown Works in 2006.  Mr. Reich holds a Bachelor of Science degree in Civil Engineering from The Ohio State University and is currently enrolled in the MBA program at the University of Notre Dame.  In his new position, Mr. Reich will continue to report to Mr. Kaloski.

Mr. Newport began his career with the company in 1985 as a college co-op student.  Following graduation, he progressed through several assignments in the Finance organization at the Middletown Works and Headquarters as well as several positions in the Sales organization. He returned to Finance in 1998 as Manager, Financial Planning and Analysis and was named Assistant Treasurer later that year.  He was named Controller in 2001, and Controller and Chief Accounting Officer in 2004.  Mr. Newport has served as a board member for the Mason High School Soccer Boosters.  He holds a Bachelor of Science degree in Accounting from the University of Cincinnati and a MBA from Xavier University.  In his new position, Mr. Newport will report to Mr. Wainscott.

Mr. Williams began his career with the company in 1981 as an Associate Accountant.  He progressed to Accountant and Senior Auditor before being named Supervisor, General Accounting at Butler Works.  He was named Controller for the Butler / Zanesville Works and Europe in 1991, and Steel Group Controller in 1998.  He joined CSC Ltd. as Chief Financial Officer in 2000.  He was named Vice President, Finance for St. Vincent College in 2001, and Chief Financial Officer for Geneva College in 2007.  He rejoined AK Steel in 2008 as Assistant Controller.  Mr. Williams holds a Bachelor of Science degree in Business Administration (Accounting) from The Ohio State University and a Master of Accountancy from Saint Vincent College.  He is a Certified Public Accountant.  In his new role, Mr. Williams will report to Mr. Ferrara.