Cliffs Natural Resources Inc. Announces Management Realignment in Corporate Strategy, Global Communications and Investor Relations
CLEVELAND, May 2, 2012 /PRNewswire/ -- Cliffs Natural Resources Inc. (NYSE: CLF) (Paris: CLF) today announced the realignment of its corporate strategy, global communications and investor relations functions into a single, new organizational structure effective immediately. The Company indicated Steven Raguz, senior vice president – corporate strategy and treasurer, will provide executive leadership for the new organization and, as part the realignment, also announced the following management changes:
Steve Baisden named Vice President, Strategy – Asia. Mr. Baisden, previously vice president of investor relations and communications, is appointed to the newly created executive development position of vice president, strategy – Asia. In this new role, Mr. Baisden will enhance the Company's understanding of Asia and other eastern hemisphere countries, provide a corporate presence in Asia and, working with Mr. Raguz, help lead strategic analysis of global opportunities.
Laurie Brlas, Cliffs' executive vice president, finance and administration & chief financial officer, said, "Establishing this Asia-based officer position is indicative of Cliffs' belief in where our future growth lies and the investments we need to make to support this growth. Additionally, it is a commitment to investing in our people by presenting unique opportunities to enhance professional development."
Since joining Cliffs in 2007, Mr. Baisden has led the Company's interactions with the financial markets, including increasing understanding of Cliffs' evolving strategy and broadening of the Company's shareholder base. He and his family will relocate to Beijing, China this summer and he will be based in Cliffs' Beijing office. In addition to Mr. Baisden's assignment, Cliffs announced the following management appointments:
Jessica Moran Promoted to Director – Investor Relations. Ms. Moran, formerly manager, investor relations, will lead the continued development, management and execution of Cliffs' investor relations program. As the primary contact for the Company's 21 sell-side analysts and hundreds of current and prospective institutions, she will continue to communicate Cliffs' compelling growth strategy to the investment community.
Patricia Persico Promoted to Director – Global Communications. Ms. Persico, formerly senior manager, global communications, will provide strategic direction for the Company's development, management and execution of internal and external communications, branding, marketing communications and media relations. She will lead the global communications team and also work directly with the investor relations and public affairs functions to build the Company's brand and reputation.
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 two iron ore mining complexes in Western Australia. The Company also has a 45% economic interest in a coking and thermal coal mine in Queensland, Australia. In addition, Cliffs has a major chromite project, in the pre-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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