Universal Stainless Names Christopher Zimmer President & Chief Executive Officer; Dennis Oates transitions to Executive Chairman

BRIDGEVILLE, Pa., Oct. 25, 2023 (GLOBE NEWSWIRE) -- Universal Stainless & Alloy Products, Inc. (Nasdaq: USAP) today announced that it has taken the next step in its leadership succession plan with the naming of Christopher M. Zimmer as President and Chief Executive Officer. Mr. Zimmer has also been appointed to the Board of Directors. The transition is effective November 1st. Mr. Zimmer succeeds Dennis M. Oates in those roles. Mr. Oates takes on the newly-established role of Executive Chairman of Universal.

Mr. Zimmer is a 15-year veteran of Universal. He joined the Company in 2008 as Vice President of Sales and Marketing, became Executive Vice President and Chief Commercial Officer in 2014, and assumed the post of Chief Operating Officer in April 2023. As COO, he has been responsible for manufacturing, technology, and quality organizations as well as sales, marketing and supply chain management and development.

Mr. Zimmer commented: “I am deeply honored to take on this leadership role at Universal Stainless and for the Board’s confidence in me. It is an exciting time for our Company as our growth strategy is continuing to gain traction. I am especially grateful for the close working relationship I have had with Denny Oates over the years and for the support of our talented senior management team. Together we will accelerate the execution of our long-term strategy to profitably grow this business.”

As Executive Chairman, Mr. Oates will continue to play a key role within the Board of Directors. Additionally, with his deep commitment to Universal, his long track record of achievement and his high regard within the specialty steel industry, Mr. Oates will focus on a smooth transition and longer-term strategic issues.

Mr. Oates commented: “We have a strong organization, a committed Board and have enjoyed the long-term support of our shareholders and customers. I have the utmost confidence that Chris’s leadership working in concert with the senior management team sets the stage for Universal to have a very exciting future.”

About Universal Stainless & Alloy Products, Inc.

Universal Stainless & Alloy Products, Inc., established in 1994 and headquartered in Bridgeville, PA, manufactures and markets semi-finished and finished specialty steels, including stainless steel, nickel alloys, tool steel and certain other alloyed steels. The Company's products are used in a variety of industries, including aerospace, power generation, oil and gas, and heavy equipment manufacturing. More information is available at www.univstainless.com.