Following recent news of the upcoming retirement of the steelmaker’s chief executive officer, AK Steel on Tuesday announced a new set of executive promotions.
Jaime Vasquez has been named vice president of finance and chief financial officer effective Jan. 1. Vasquez is currently director of finance and joined AK Steel last year, according to the company.
Also, Gregory Hoffbauer has been named vice president, controller and chief accounting officer. He will also assume oversight of risk management. Currently, Hoffbauer is controller and chief accounting officer, according to AK Steel.
And, David Westcott has been named vice president and treasurer and will take responsibility for information technology, according to AK Steel, which said he is currently treasurer.
“These promotions add strength and depth to AK Steel’s financial organization and to our senior leadership team overall,” said James Wainscott, chairman, president and CEO of AK Steel, in a written statement. “I am confident that each will provide strong leadership for AK Steel in the future.”
West Chester Twp.-based AK Steel announced at the end of October Wainscott’s plans to retire as president and CEO in January. He will continue to serve after that as chairman in a non-executive capacity, according to the company.
The steel manufacturer’s current CFO, Roger Newport, was also announced in October to be the next CEO.
AK Steel employs approximately 2,400 full-time workers in Butler County between headquarter operations and the Middletown Works steel plant, the company’s largest steel plant.