Cliffs Natural Resources Announces Board of Director Retirement
06/12/2013 - Cliffs Natural Resources Inc. announced that Francis McAllister, lead director, has elected to retire from the company's board of directors effective immediately. Mr. McAllister has served on Cliffs' board since 1996.
"Frank's leadership and his many years of service on the board have been invaluable," Joseph Carrabba, Cliffs' chairman, president and chief executive officer said. "Frank's industry knowledge and commitment to sustainable mining have been a tremendous asset to Cliffs. His experience, sage advice and diplomatic skills enhanced the quality of our Board deliberations; his presence in the Board room will be missed."
Mr. McAllister announced his retirement from Stillwater Mining as the company's chief executive officer, earlier this month. Stillwater Mining, based in Billings, Mont., is the only U.S. producer of palladium and platinum. The company is the largest primary producer of platinum group metals outside of South Africa and the Russian Federation.
The Board of Directors further announced that it had elected James F. Kirsch, former chairman, president and chief executive officer of Ferro Corporation, to be its lead director coinciding with its July 2013 Board meeting. Mr. Kirsch was elected to the Cliffs board of directors in 2010 and currently, serves on two board committees, Compensation and Organization, and Governance and Nominating.
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.
