Birmingham Steel Corporation Announces Resignation of Chief Financial Officer.Business Editors BIRMINGHAM, Ala.--(BUSINESS WIRE)--March 28, 2000 Birmingham Steel Corporation (NYSE NYSE See: New York Stock Exchange :BIR BIR British Institute of Radiology BIR Bureau of Internal Revenue BIR Bureau of International Recycling BIR Baculovirus IAP Repeat BIR Biomedical Imaging Resource BIR Bureau of Intelligence and Research (US State Department) ) today announced the resignation of its Executive Vice President and Chief Financial Officer, Kevin E. Walsh. Walsh, who joined Birmingham Steel in 1998, guided the Company's financial activities through a substantial restructuring and obtained financing for the start-up and construction of rolling mills at Cartersville, Georgia, and Memphis, Tennessee. John D. Correnti, Chairman and Chief Executive Officer of Birmingham Steel, commented, "Kevin Walsh served as CFO See Chief Financial Officer. of Birmingham Steel during a very challenging time. We appreciate the contributions he made during his tenure with the Company, which included re-designing corporate and plant administration, and working with lenders to amend the Company's loan agreements. In December 1999, the incumbent Board of Birmingham Steel and the former CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. were replaced as the result of a proxy contest Proxy contest A battle for the control of a firm in which a dissident group seeks, from the firm's other shareholders, the right to vote those shareholders' shares in favor of the dissident group's slate of directors. Also called proxy fights. . Walsh facilitated the transition to the new Board and the new management team." Correnti continued, "Kevin has agreed to serve as a consultant to the Company during his consideration of a new career opportunity. We wish him continued success in his next career endeavor." Birmingham Steel operates in the mini-mill sector of the steel industry and conducts operations at facilities located across the United States. The common stock of Birmingham Steel is traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol "BIR." |
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