Sir John Anderson will join the board of NZ Steel and Tube at the company's annual meeting in November.
Sir John was previously ANZ National Bank chief executive. He has directorships at TVNZ, the New Zealand Venture Investment Fund, PGG Wrightson and NPT.
He will replace Barry Dineen, who will retire after 17 years of service.
Meanwhile, Robert Bakewell, who is the chief financial officer of major shareholder, Onesteel, will retire at the annual meeting on 10 November. He will be replaced by Onesteel's distribution chief executive Steve Hamer.