Schnitzer Steel Industries announced that Tamara L. Lundgren, previously Executive Vice President and Chief Operating Officer of the Company, was elected President and Chief Executive Officer and a director by the Company’s board of directors at its meeting on October 29, 2008. Both positions will be effective December 1, 2008. John D. Carter, current President and Chief Executive Officer, was elected Chairman of the Board, also effective December 1, 2008.

Ms. Lundgren joined the Company in September 2005, and has been the Company’s Executive Vice President and Chief Operating Officer for the past two years. She has been the key architect of the Company’s growth strategy and enhanced operational efficiency. “We are fortunate to have Ms. Lundgren’s talent, strategic insight, and international experience continuing to provide leadership during the current market conditions,” said Chairman-elect John Carter. He also noted that “the combination of her financial expertise and demonstrated operational capabilities are ideal for the immediate challenges facing our industry as well as the longer-term growth opportunities available to us.”

Source: Schnitzer Steel Industries