Charlotte, North Carolina, USA (March 31, 2023) – Midrex Technologies, Inc. (Midrex) has announced that Stephen Montague, current President and Chief Executive Officer (CEO) will retire in April 2024. K.C. Woody will be promoted to president effective immediately and maintain his current role as chief operating officer (COO). Stephen Montague will remain as CEO until his retirement and then continue to serve on the Board of Directors.
In making the announcement, Montague said, “After more than 35 years at Midrex, and at this stage of my career, I want to spend more time with my family and in ministry, something that was very difficult in my current position. Working the last 13 years with KC has made this decision a lot easier,” Montague observed. “I am pleased to remain on the Board of Directors, and I am confident Midrex will continue to be successful under KC’s leadership.”
“I am incredibly thankful and humbled by the trust being placed in me by Kobe Steel and my fellow teammates at Midrex,” Woody said. “Midrex is a special place and Stephen is an incredible leader and friend. I know how much his family means to him and I am excited for him as he starts this next chapter of his life.
“While we have another year before he retires, I am really excited that he has agreed to continue working with the team as a member of our board, and I look forward to his continued friendship, support, and advice as Midrex tackles the decarbonization of our industry,” Woody said. “Decarbonization is a unique opportunity, and I am very confident that we have the right team in place to capitalize on this opportunity and grow our company.”
Woody joined Midrex in 2010 and has served in a variety of commercial roles including the first Managing Director of Midrex India Private Limited and Vice President-Commercial of Midrex Technologies, Inc.. In 2020, he was named Chief Operating Officer (COO), leading all the commercial and operations activities for the company.
Woody is a graduate of the U.S. Military Academy at West Point and served on active duty as an officer in the US Army prior to Midrex.
Midrex Technologies, Inc.
Midrex is the world leader for direct reduction ironmaking technology and aftermarket solutions for the steel industry. As developer of the MIDREX® Process, Midrex has designed, built, and serviced direct reduced iron (DRI) plants for 50-plus years. MIDREX Plants produce approximately 60% of the world’s DRI and 80% of DRI from shaft furnace processes.
The MIDREX Process is highly flexible in reductant sources, iron oxide feed, and product discharge options. Plants can be configured to operate on natural gas (MIDREX NG™), natural gas with hydrogen addition (MIDREX Flex™), and 100% hydrogen (MIDREX H2™). Iron oxide pellets and lump ores, regardless of their Fe content, can be transformed into either cold DRI (CDRI), hot DRI (HDRI), or hot briquetted iron (HBI). Plants can be designed for cold and hot discharge at the operator’s discretion, and proven options are available for transporting and charging HDRI into an EAF.
The company’s headquarters and research and technology development center are located in Charlotte, NC, USA. Midrex Technologies also has offices in the United Kingdom, China, India, and UAE (Dubai).