THUNDER BAY – Mining Now – Joseph Carrabba, Cliffs’ Natural Resources chairman, president and chief executive officer, stated, “I believe these changes reposition our senior team toward our most critical current and future business requirements. As we transition Cliffs’ strategic focus from M&A activities to executing organic growth projects, these executive changes will drive excellence in project execution, ensure operational stability and provide for a more disciplined approach to capital allocation and cost management”.
Reporting directly to Mr. Carrabba, Cliffs’ management appointments to its executive leadership team include these individuals, with the following responsibilities:
Laurie Brlas is named Executive Vice President & President — Global Operations. Ms. Brlas, formerly Cliffs’ executive vice president, finance and administration & chief financial officer, has operating responsibility for all minerals and other products that Cliffs produces. Ms. Brlas replaces Duncan P. Price, who will be retiring from the Company effective Oct. 1, 2012.
Ms. Brlas will build on her strength of disciplined large-scale project management and allow for prudent capital allocation and cost management particularly essential in the global economy. She will provide leadership for safety, capital projects, cost management, continuous improvement and information technology. Her new role will be accountable for all mining operations in the Company’s global portfolio of controlled iron ore and coal interests as well as leading emerging operating assets including development projects in iron ore and ferrochrome.
P. Kelly Tompkins is named Executive Vice President, Legal, Government Affairs and Sustainability, Chief Legal Officer & President, Cliffs China. Mr. Tompkins’ expanded responsibility will be to provide executive level focus on Cliffs’ evolving business relationships in China. He will maintain responsibility for Cliffs’ legal, environmental, government and sustainability activities worldwide.
Terrance Paradie is named Senior Vice President & Chief Financial Officer. Mr. Paradie, previously senior vice president, assistant general manager — Michigan Operations, will assume executive responsibility for all finance, accounting, tax and treasury. Prior to his most recent assignment, Mr. Paradie was the corporate controller and chief accounting officer for Cliffs globally.
Steven Raguz is named Senior Vice President, Corporate Strategy and Communications & Chief Strategy Officer. Mr. Raguz, formerly senior vice president — corporate strategy and treasurer, will lead the Company’s strategy development and define long-term strategic priorities. Mr. Raguz will continue to direct an integrated communications strategy that reaches Cliffs’ investors and the Company’s various internal and external stakeholders worldwide.
James Michaud is named Senior Vice President, Human Resources & Chief Human Resource Officer. Mr. Michaud, formerly senior vice president — human resources, will maintain core responsibilities of oversight for global human resources, talent management, organizational development, compensation and benefits.
In addition to the above management appointments, the following senior leaders will remain key contributors on the Company’s executive leadership team:
• Don Gallagher, Executive Vice President & President, Global Commercial
• Cliff Smith, Senior Vice President, Global Business Development
Mr. Carrabba added, “These management changes are indicative of the Company’s ongoing commitment to strengthen and evolve our senior leadership. I am pleased to have this level of internal executive talent leading Cliffs.”
With the transition of Mr. Raguz into his new role, Matthew Bittner is named Vice President & Treasurer. Mr. Bittner, formerly assistant treasurer, will report to Terry Paradie and will maintain responsibility for developing corporate treasury and capital market strategies, international treasury and cash management, including corporate investments and debt origination.