EXHIBIT 99.2
SCHNITZER STEEL INDUSTRIES, INC.
3200 NW Yeon Avenue P.O. Box 10047 Portland, Oregon 97296-0047
Phone (503) 224-9900 FAX (503) 299-2277
![Schnitzer Steel Industries, Inc. logo LOGO](https://capedge.com/proxy/8-K/0001072613-05-001274/schnitzer-logo_13565.jpg)
May 18, 2005
Board of Directors
Schnitzer Steel Industries, Inc.
3200 NW Yeon Avenue
Portland, Oregon 97210
Members of the Board of Directors:
With this letter, effective immediately, I have decided to retire as Director and Chairman of the Board of Directors of Schnitzer Steel Industries, Inc. I also am retiring as Schnitzer’s President and Chief Executive Officer, effective immediately. My retirement is unconditional.
It has been a privilege and honor to serve this Company and its shareholders for more than 30 years. I trust that the Board of Directors will provide the leadership and direction necessary to maintain and build upon Schnitzer’s long history of providing maximum value to its shareholders.
Sincerely,
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/s/ Robert W. Philip | ||
Robert W. Philip | ||