Cliffs Natural Resources Inc. Announces Planned Departure of Steven Raguz, Chief Strategy Officer
CLEVELAND, April 26, 2013 /PRNewswire/ -- Cliffs Natural Resources Inc. (NYSE: CLF) (Paris: CLF) today announced that Steven Raguz, executive vice president, corporate strategy and communications & chief strategy officer, will leave the Company effective May 1, 2013. Mr. Raguz is joining a private company in the Cleveland area as their chief financial officer.
"We are grateful to Steve for his leadership in the organization over the past six years," said Joseph Carrabba, Cliffs' chairman, president and chief executive officer. "During this time, Steve played an important role in developing and implementing Cliffs' strategy over the past several years. He has provided leadership in building the Company's capital structure and was an integral part of Cliffs achieving an investment-grade rating."
Mr. Raguz joined Cliffs in 2007 as vice president of financial planning. During his career at Cliffs, he assumed key executive management positions in the finance, strategy, treasury, communications and investor relations functions.
The Company stated that the strategy function will be realigned and now report into Cliff Smith, executive vice president, global business development and a member of Cliffs' executive leadership team.
About Cliffs Natural Resources Inc.
Cliffs Natural Resources Inc. is an international mining and natural resources company. A member of the S&P 500 Index, the Company is a major global iron ore producer and a significant producer of high- and low-volatile metallurgical coal. Cliffs' strategy is to continually achieve greater scale and diversification in the mining industry through a focus on serving the world's largest and fastest growing steel markets. Driven by the core values of social, environmental and capital stewardship, Cliffs associates across the globe endeavor to provide all stakeholders operating and financial transparency.
The Company is organized through a global commercial group responsible for sales and delivery of Cliffs' products and a global operations group responsible for the production of the minerals the Company markets. Cliffs operates iron ore and coal mines in North America and an iron ore mining complex in Western Australia. In addition, Cliffs has a major chromite project, in the feasibility stage of development, located in Ontario, Canada.
News releases and other information on the Company are available on the Internet at: http://www.cliffsnaturalresources.com
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SOURCE Cliffs Natural Resources Inc.
Released April 26, 2013