Universal Stainless & Alloy Products Inc. has announced that its Board of Directors, in anticipation of the impending retirement from the Board of its current Chairman, Clarence M McAninch, intends to elect Dennis M Oates, the company’s President and CEO, to the additional position of Chairman. Mr McAninch will retire from the Board at the Shareholders’ Meeting in May and relinquish his Chairmanship pursuant to the company’s policy on mandatory age limitations for Directors. Pursuant to the company’s policy, individuals may not be nominated for election as a Director of the company after reaching the age of 75.