Skip to comments.Surma out as U.S. Steel CEO as of Sept. 1
Posted on 08/16/2013 3:56:15 PM PDT by FlJoePa
U.S. Steel Corp. announced today that John P. Surma will relinquish the chief executive officer position at the Pittsburgh steel company to the man who has been directing a cost-cutting campaign there.
Mario Longhi, the company's chief operating officer who added the title of president in May, will take over the CEO role effective Sept. 1.
Mr. Surma will continue as executive chairman through the end of the year, when he will retire, according to the company's announcement this afternoon.
"I am pleased that our well-established succession planning process has produced such a capable and experienced executive who deserves the opportunity to lead U.S. Steel and our new management team into the future," Mr. Surma said in a prepared statement.
In addition to promoting Mr. Longhi, the company said its chief financial officer, Gretchen R. Haggerty, will retire at the end of August. That job will be filled by David B. Burritt, who served as chief financial officer and vice president of global finance and strategic services for Caterpillar Inc. from 2004 to 2010.
(Excerpt) Read more at post-gazette.com ...
Karma's a bitch, ain't it?
One PSU B.O.T. member/Lying CEO down, a few more to go. Now on to Peetz (BNY Mellon) and Frazier (Merck).
We make steel? What’s up with that?
I am sure it is all part of their growth plan, isn’t that what companies usually say with mass layoffs?
"We're bigger than that."
I want pain, disgrace, and humiliation for this ahole (surma). He deserves every bit of it - and more.
What did he do that was so bad? As compared to any other US CEO type that is.
How many millions are they going to pay him to leave?
Too long to read, but I skimmed it. I guess he was against paterno? Is that why you hate him?
He basically fired him - after cancelling his press conference. He was the vice-chair of the B.O.T. He forced out Garban - the Chair of the B.O.T. He was on 3 of the 6 sub-committees, meaning he wielded a lot of power.
His brother Vic (3 year letterman under Joe in the late 60’s) is a nut case dentist in Pittsburgh, who sent his son (Vic Jr.) to Joe as a walk on receiver. The kid didn’t cut it, and never played - though he was kept on the roster (as lots of legacies were).
He wound up a drug addled gay dancer/escort in Miami, and that’s when all this animosity started. Obviously if Joe was such a bad guy, a normal person would wonder why he would send his kid to play there in the first place.
Peetz (BNY Mellon) and especially Frazier (Merck) are the two CEO’s that need to fall next. Both of them traded in their Penn State souls for their corporate souls right about the same time. Can’t have controversy. Need to “put it behind us”, etc.
They all need to rot in Hell.
Oh, well thanks for the summary. I have no idea. I read that he lost 89% of the stock value and ran off with a golden chute, but that’s just normal US CEO behavior. The rest I guess is a bit worse.