New CEO Takes Over at US Steel

by William White | August 19, 2013 9:35 am

USSteelLogo New CEO Takes Over at US Steel[1]United States Steel (X[2]) announced Friday[3], that Mario Longhi will be the company’s next CEO.

Longhi is expected to take over as US Steel’s CEO when the current CEO, John Surma, retires at the end of the year. Longhi is US Steel’s current Chief Operating Officer, a positions he has held since July of 2012. Before joining with US Steel, Longhi was the CEO of Gerdau Ameristeel (GGB[4]) for five years. Prior to Ameristeel, Longhi served Alcoa (AA[5]) for 23 years in numerous positions, reports the Associated Press.

Longhi’s first task as CEO will be to cut cost at US Steel, which lost $78 million during its second quarter. Longhi told The Wall Street Journal[6], that he isn’t “content to wait for further global economic recovery to improve our results.”

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2013/06/USSteelLogo.jpg
  2. X: http://studio-5.financialcontent.com/investplace/quote?Symbol=X
  3. announced Friday: http://hosted.ap.org/dynamic/stories/U/US_US_STEEL_CEO?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2013-08-16-17-48-15
  4. GGB: http://studio-5.financialcontent.com/investplace/quote?Symbol=GGB
  5. AA: http://studio-5.financialcontent.com/investplace/quote?Symbol=AA
  6. The Wall Street Journal: http://online.wsj.com/article/SB10001424127887323455104579017222365244870.html

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