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USS announces enhanced 'operating model' and 'organizational structure'

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U.S. Steel Corporation (SS) is announcing the implementation of “an enhanced operating model and organizational structure to accelerate the company’s strategic transformation and better serve its customers.”

That strategy will take effect on Jan. 1, USS said in a statement released on Tuesday.

“These initiatives will reduce costs and more closely align U.S. Steel’s corporate structure with the company’s previously announced strategic investments in leading technology and advanced manufacturing, including the recently announced purchase of a minority interest in Big River Steel, the newest and most advanced flat-rolled mini mill in North America, with a clear path to consolidation,” USS said.

“The realignment of U.S. Steel’s leadership team around more nimble and efficient executive functions, notably to sharpen focus on operational and commercial excellence and promote technological innovation, will enable the company to establish a more competitive cost structure with enhanced capabilities to serve priority customers in strategic markets,” USS said. “Additionally, this enhanced operating model will create a new, differentiated U.S. Steel with a team that is charged with leading the execution of the strategy and increasing profitability.”

“It also will further unlock the value of U.S. Steel’s announced investments in Big River Steel and at Mon Valley Works and Gary Works to drive profitable growth, deliver capital and operational cash improvements, and position U.S. Steel to continue to be an industry leader in delivering high-quality, value-added products,” USS added.

“Our enhanced leadership team structure is the right next step to help U.S. Steel achieve its ambitious strategy to create the leading integrated and mini mill steel company with a world competitive, ‘best of both’ footprint to better serve our customers,” USS President and CEO David Burritt said. “We are intensely focused on improving our capabilities to win in strategic markets, reducing structural costs with a leaner footprint and attracting and investing in the best talent that share our S.T.E.E.L. Principles. We have been investing in building a footprint of world-class assets and with today’s announcement we will become a more focused, agile organization with a world-class leadership team ideally structured to capitalize on market opportunities and position us for success.”

Management

Separately, and unrelated to the enhanced operating model, U.S. Steel also announced on Tuesday that Sara A. Greenstein, senior vice president of consumer solutions, has resigned effective Oct. 11 to assume the role of CEO of a publicly traded company. Joe Smous, general manager, construction and converters, has been appointed interim Head of Consumer Solutions, effective Oct. 11.

Also, effective Oct. 11, program management of the construction of the endless casting and rolling line at Mon Valley Works, as well as corporate communications, will also report directly to the CEO.

In a second separate statement released on Tuesday, USS announced that Christine (Christie) S. Breves, currently senior vice president, manufacturing support and chief supply chain officer, has been appointed Chief Financial Officer of U.S. Steel, effective Nov. 4. Breves will succeed Kevin P. Bradley, who is resigning and will remain with the company as Executive Vice President and Adviser to the CEO to provide transitional support through the end of 2019. Breves will retain her current responsibilities through the end of the year, most of which will be realigned with the new organizational model effective Jan. 1.

 

Posted 10/9/2019

 
 
 
 

 

 

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