management and his experience with manufacturing operations, as well as his board experience, led the Board to conclude that he should serve as a director.
WILLIAM K. LIEBERMAN (age 70, Director since 2004). Mr. Lieberman has
been President of The Lieberman Companies, insurance brokerage and consulting company, for more than five years. In addition to more than forty years of management experience in the insurance, benefit and risk management areas, Mr. Lieberman
has served as a director or trustee of many organizations including charitable companies, hospitals and universities. These qualifications led the Board to conclude that he should serve as a director.
STEPHEN E. PAUL (age 50, Director since 2002). Mr. Paul has been a
managing principal of Laurel Crown Partners, a private investment company, for more than five years. He became a President of The Louis Berkman Investment Company, a private investment company, in 2013. Mr. Pauls background in investment
banking and private equity investment led the Board to conclude that he should serve as a director.
CARL H. PFORZHEIMER, III (age 81, Director since 1982). Mr. Pforzheimer has been Managing Partner or Manager of Carl H. Pforzheimer & Co. LLC or its predecessors or related entities for more
than five years. In addition to the attendant investment advisory analytical skills gained from such a position, his former role as chairman of the Audit and Risk Management Committees of U. S. Trust Co. led the Board to conclude
Mr. Pforzheimer should serve as a director.
Continuing Directors Whose Term of Office Expires in 2019:
LEONARD M. CARROLL (age 75, Director since 1996). Mr. Carroll has been
Managing Director of Seneca Capital Management, Inc., a private investment company, for more than five years. The Board concluded that Mr. Carroll should serve as a director because of his broad financial background and investment knowledge. He
is a retired Certified Public Accountant and has held various positions in the banking industry including President, Director and Chairman for over 37 years.
LAURENCE E. PAUL (age 53, Director since 1998). Mr. Paul has been a managing principal of Laurel Crown Partners, a private investment company, for
more than five years and prior to that was an investment banker for ten years. He became a President of The Louis Berkman Investment Company, a private investment company, in 2013. Mr. Pauls experience as a senior investment banker and
private equity investor for almost twenty years led the Board to conclude that he possessed skills in financial management and risk assessment that would be beneficial to the Corporation.
ERNEST G. SIDDONS (age 84 Director since 1981). Mr. Siddons was President and Chief Operating Officer of the Corporation
for more than five years prior to his retirement in April 2009. With more than thirty years of experience with the Corporation in operations and financial management, the Board concluded that Mr. Siddons should serve as a director. Positions
held earlier with the Corporation, including those of Chief Financial Officer and Treasurer and President of Union Electric Steel Corporation, and his qualification as a Chartered Accountant were also considered.
J. FREDRIK STRÖMHOLM (age 52, Director since 2016).
Mr. Strömholm has been the Chief Executive Officer of Impilo AB (Stockholm), an investment company, since June of 2016. Mr. Strömholm was a partner at Altor Equity Partners AB, Stockholm for more than five years and served as its
managing partner from 2010 through 2014. From 2008 until April of 2016, Mr. Strömholm served on the board of Akers Holdings AB, the parent company of Akers AB, a global manufacturer of rolls to the steel industry, which was acquired by the
Corporation in March of 2016. Mr. Strömholm was also a director of Ferrosan Holding A/S, Ferrosan Medical Devices A/S, and Carnegie Holding AB, among others, all of which were companies owned by funds advised by Altor Equity Partners AB.
Prior to 2003, Strömholm was a managing director at Goldman Sachs International in London. Mr. Strömholms long-term financial and investment background and his many years of service as a director of companies led the Board to
conclude that he should serve as a director.
10