Cliffs Natural Resources Inc. Announces Proxy Voting Results
CLEVELAND--(BUSINESS WIRE)-- Cliffs Natural Resources Inc. (NYSE: CLF) (Paris: CLF) today announced that the following individuals were elected as directors of the Company at its Annual Meeting of Shareholders. Ten of the Company's 11 directors are considered independent directors.
-- Ronald C. Cambre, Former Chairman and Chief Executive Officer of Newmont Mining Corporation -- Joseph A. Carrabba, Chairman, President and Chief Executive Officer of the Company -- Susan M. Cunningham, Senior Vice President of Exploration of Noble Energy Inc. -- Barry J. Eldridge, Former Managing Director and Chief Executive Officer of Portman Limited -- Susan M. Green, Deputy General Counsel, U.S. Congressional Office of Compliance -- Janice K. Henry, Former Senior Vice President, Chief Financial Officer and Treasurer of Martin Marietta Materials, Inc. -- James F. Kirsch, Chairman, President and Chief Executive Officer of Ferro Corporation -- Francis R. McAllister, Chairman and Chief Executive Officer of Stillwater Mining Company -- Roger Phillips, Former President and Chief Executive Officer of IPSCO Inc. -- Richard K. Riederer, Chief Executive Officer of RKR Asset Management -- Alan Schwartz, Professor of Law at Yale Law School and Professor at Yale School of Management
Shareholders also voted to:
-- Approve and adopt an amendment to Cliffs' Amended Articles of Incorporation to change certain supermajority shareholder voting requirements contained in the Ohio Revised Code to majority shareholder voting requirements; -- Approve the amendment and restatement of the 2007 Incentive Equity Plan to (a) increase the authorized number of shares available for issuance under the plan by a total of 7,000,000 common shares, and (b) provide an annual limitation on the number of shares available to grant to any one participant in any fiscal year of 500,000 common shares; and -- Ratify the appointment of Deloitte & Touche LLP as Cliffs' independent registered public accounting firm.
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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 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 two coking coal mining complexes 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 America 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.
News releases and other information on the Company are available on the Internet at:
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Source: Cliffs Natural Resources Inc.
Released May 11, 2010