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U. S. Steel Senior VP & Controller to Retire
02/10/2009 - United States Steel announces that Senior Vice President & Controller Larry G. Schultz has elected to retire from the company effective April 1, 2009.
United States Steel Corp. Chairman and CEO John P. Surma announced that Senior Vice President & Controller Larry G. Schultz has elected to retire from the company effective April 1, 2009.
"Larry Schultz has exhibited extraordinary commitment to our company and the accounting profession during his distinguished 35-year career," said Surma. "As corporate controller and chief compliance officer for our company, Larry maintained a tradition of strong financial reporting and internal accounting controls while performing one of the most challenging jobs at U. S. Steel. He is respected by all who know him for his intellect, his commitment to ethical behavior and his selfless dedication in service to our company."
Surma noted that the company would name a successor for Schultz's areas of responsibility at a later date.
Schultz, 59, began his U. S. Steel career in 1973 as an industrial engineer at Pittsburgh headquarters. He held a series of accounting and planning posts at headquarters and at the company's nearby Mon Valley Works before being named Director—Corporate Financial Analysis in 1986. He was appointed Comptroller of USX Engineers and Consultants, Inc. in 1987.
Schultz moved to Washington, D.C., in 1988 to serve on the President's Commission on Executive Exchange and returned to U. S. Steel in 1989 as Director—Analysis and General Accounting. He was later named Comptroller of U. S. Steel (1992) and Vice President—Accounting for USX Corp. (2000).
In January 2002, Schultz was named Vice President—Investor Relations & Financial Analysis, and in May 2002, he was elected Vice President & Controller. He was appointed to his current post in June 2008 with responsibility for all accounting and compliance activities throughout the company.
Schultz is a member of the Institute of Management Accountants. He also serves as Chairman of the board of directors of Junior Achievement of Western PA and is on the board of the Pennsylvania Economy League of Southwestern Pennsylvania.
Schultz received a bachelor's degree in mathematics from Ursinus College in Collegeville, Pa., in 1971; a master's degree in operations research and statistics from Rensselaer Polytechnic Institute in Troy, N.Y., in 1973; and a master's degree in business administration from the University of Pittsburgh in 1979.
