U. S. Steel Establishes Transition Team for New Company
United States Steel Corporation (NYSE: X) announced today that it has formed a leadership team effective December 1 to oversee the transition of its raw materials and transportation businesses into a new, separate company. This follows U. S. Steel's announcement in October that it had signed a letter of intent to sell its raw materials businesses, which include its coke operations in Clairton, Pa., and Gary, Ind., and its Minnesota Ore Operations, and its wholly owned transportation services subsidiary, Transtar, Inc., to a newly created company formed by affiliates of Apollo Management L.P.
The transition team will ensure that all existing operations, administrative, sales and accounting functions are transferred to the new company without interruption and that customers continue to receive the highest quality products and services during the transition period.
Charles C. Gedeon, currently executive vice president of raw materials and diversified businesses for U. S. Steel, leads the transition team as executive vice president of raw materials and reports to Roy G. Dorrance, vice chairman and chief operating officer at U. S. Steel. Gedeon has been responsible for U. S. Steel's raw materials operations since he joined the company in 1986.
Two current executive officers of U. S. Steel are on the transition team, reporting to Gedeon: Thomas W. Sterling, president of Transtar; and Thomas W. Goettge, who leaves his post as U. S. Steel's vice president of Tin, Tubular and Plate Products to devote his efforts as vice president of the transition team. Goettge previously served as general manager of U. S. Steel's coking operations from 1995 to 2001.
Also reporting to Gedeon on the transition team are the operating managers of each respective U. S. Steel facility included in the asset sale: James E. Swearingen, general manager of Minnesota Ore Operations; Raymond R. Terza, general manager of Clairton Works; and Glenn R. Topping, plant manager of Gary Coke Operations. Completing the team are Richard M. Efkeman, director of Raw Materials Planning, Procurement, Distribution & Sales, and Garrett F. Hurley, director of Raw Materials Accounting.
Once the transaction is final, it is anticipated that members of this team will become employees of the new company.
For biographical information on the executives visit www.ussteel.com and click on Media, then Executive Biographies.
SOURCE: United States Steel Corporation
CONTACT: John Armstrong, +1-412-433-6792 or Mike Dixon, +1-412-433-6860,
Web site: http://www.ussteel.com/
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