Cliffs Natural Resources Inc. Announces Management Promotions to Support Global Reorganization
Company Also Launches Searches for North American Coal Operating Executive and Global Transportation and Logistics Executive; Creates New Global Operations Services Role
CLEVELAND, Feb. 8, 2011 /PRNewswire/ -- Cliffs Natural Resources Inc. (NYSE: CLF) (Paris: CLF) today announced a number of global commercial, operating and administrative management promotions in support of the Company's previously announced global reorganization. With these promotions also comes the realignment of various executive responsibilities designed to support the newly created integrated global management structure.
Effective immediately, Cliffs named the following executives with the respective global responsibilities:
New promotions reporting to Donald Gallagher, executive vice president, president – global commercial:
-- Terence Mee promoted to senior vice president, global iron ore and metallic sales. Formerly vice president, sales & transportation for the North American business unit, Mr. Mee now has responsibility for the Company's global iron ore sales, including markets in North America, Europe and Asia. Working closely with global marketing, he will be responsible for maintaining customer relationships in all geographies.
-- William Hart promoted to vice president, global marketing. Mr. Hart, formerly vice president sales, marketing and strategy for the Asia Pacific Iron Ore business unit, now is responsible for Cliffs' global strategic marketing function. Working closely with others in the global commercial group, he will assess commercial initiatives and revenue generating sales and marketing plans for the Group. He will also have responsibility for market research and analytics, including maximizing profitability of customer relationships.
-- William McFadden promoted to vice president, global coal and alternative energy sales. Mr. McFadden, formerly general manager, ore sales and marketing for the North American business unit, now has responsibility for the Company's global sales of coal and alternative energy products (renewaFUEL) into North America and Europe, as well as emerging relationships in Brazil. Working closely with global marketing, he will be responsible for maintaining customer relationships in each of these geographies.
In addition to the above appointments, Cliffs has initiated a search for a global transportation and logistics leader who will report to Mr. Gallagher.
New promotions reporting to Duncan Price, executive vice president, president – global operations:
-- Colin Williams promoted to vice president, Asia Pacific Iron Ore. Mr. Williams, formerly chief operating officer – operations, Asia Pacific Iron Ore, is now responsible for the Company's operations of all iron ore mines in Australia.
Search Launched for North American Coal Operating Executive and New Global Operations Services Role Created
As part of the global reorganization, Cliffs has launched a search for an operating executive to lead North American Coal. Until this operating executive is identified, Duke Vetor, senior vice president, North American Coal, will continue to provide operations leadership for the Company's coal assets. Mr. Vetor will transition to a newly created position of senior vice president, global operations services once this search is completed. In his newly created role, Mr. Vetor will have responsibility for global safety and technical support at all of Cliffs' operations worldwide, including responsibilities for global procurement, applied technology and the world-wide roll-out of standardized business improvement methodologies, including six sigma and lean sigma techniques.
Upon conclusion of the search for the new North American Coal operating executive, this position will report to Mr. Price.
New promotions reporting to Laurie Brlas, executive vice president, finance and administration & chief financial officer:
James Michaud promoted to senior vice president, human resources. Mr. Michaud, formerly vice president, human resources, will continue to provide leadership in the development of human resources-related strategic and tactical initiatives that support the Company's continued growth. He is responsible for overseeing all aspects of leadership development, talent management, recruitment, compensation, employee benefits, training and employee relations programs.
Terrance Paradie promoted to senior vice president, corporate controller & chief accounting officer. Mr. Paradie, formerly vice president, corporate controller & chief accounting officer, will continue to be responsible for the Company's corporate internal and external accounting and reporting, including Securities and Exchange Commission reporting and disclosures. He is also responsible for global financial planning and analysis.
Steven Raguz promoted to senior vice president, corporate strategy & treasurer. Mr. Raguz, formerly vice president, corporate strategy & treasurer, will continue to be responsible for target market definition, long-term financial plan, long-term strategic priorities and annual corporate priorities within the context of Cliffs' mission and vision. He will also maintain his role as Corporate Treasurer, in which he is responsible for the Company's capital structure.
Steven Baisden promoted to vice president, investor relations & communications. Mr. Baisden, formerly senior director, investor relations & communications, will continue to be responsible for leading Cliffs' strategic global communications and investor relations efforts, including all media relations, brand management, marketing communications/graphic design, employee communication and investor relations activities.
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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, we are the largest producer of iron ore pellets in North America, a major supplier of direct-shipping lump and fines iron ore out of Australia and a significant producer of high and low volatile metallurgical coal. With core values of environmental and capital stewardship, our colleagues across the globe endeavor to provide all stakeholders operating and financial transparency as embodied in the Global Reporting Initiative (GRI) framework. Our Company is organized through three geographic business units:
The North American business unit is comprised of six iron ore mines owned or managed in Michigan, Minnesota and Canada and six coal mines located in West Virginia and Alabama. The Asia Pacific business unit is comprised of two iron ore mining complexes in Western Australia and a 45% economic interest in a coking and thermal coal mine in Queensland, Australia. The Latin American business unit includes a 30% interest in the Amapa Project, an iron ore project in the state of Amapa in Brazil.
Other projects under development include a biomass production plant in Michigan and Ring of Fire chromite properties in Ontario, Canada. Over recent years, Cliffs has been executing a strategy designed to achieve scale in the mining industry and focused on serving the world's largest and fastest growing steel markets.
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SOURCE Cliffs Natural Resources Inc.
Released February 8, 2011