Big River Steel this morning released a statement confirming the death of its CEO and Chairman, John Correnti.
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Correnti was in charge of the $1.3 billion steel mill project being built near Osceola.
“I am saddened to learn of the death of John Correnti“.
“I had a meeting with the employees today, along with the other management team, and let the employees know that this mill is on schedule and on time”, Hopkins said. Big River will be managed by its operating committee, the company said.
The Arkansas Legislature approved a $125 million bond issue in 2013 for the project.
Correnti was an organizer who took ideas and made them work, said Schueck, who last saw Correnti a few weeks ago and spoke with him Thursday.
Dan Murray, a member of the board, was appointed as chairman of the board of directors. The people are more than capable of finishing the building and putting that equipment in place.
Grant Tennille, former executive director of the Arkansas Economic Development Commission, agreed. The mill is scheduled to come online in the summer of 2016. “We are grateful for his commitment to Arkansas and our thoughts and prayers are with his family and his extended family at Big River Steel“.
Correnti served as CEO of Nucor Corp. from 1996 to 1999 and helped move the US steel industry away from its regional roots by expanding its reach to the South. Correnti also opened a steel mill for Severstal in Mississippi which was later sold to Steel Dynamics. Kennemore says he expects the push for completion of the project to continue.
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Investors in the project include the Arkansas Retired Teachers Association and the Koch Brothers, which are said to be the largest investors in the group.
