CLEVELAND, Dec. 3, 2012 /PRNewswire/ -- Cliffs Natural
Resources Inc. (NYSE: CLF) (Paris: CLF) announced today that its
Board of Directors has elected Timothy W.
Sullivan, 59, executive advisor of CCMP Capital Advisors LLC
and former president and chief executive officer of Bucyrus
International Inc. to Cliffs Board. The appointment is effective
Jan. 1, 2013. With the addition
of Mr. Sullivan, Cliffs' Board will be comprised of a total of 11
directors.
(Logo: http://photos.prnewswire.com/prnh/20101104/CLIFFSLOGO
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Joseph Carrabba, Cliffs'
chairman, president and chief executive officer, said: "I am
pleased with the appointment of Tim to Cliffs' Board. His
background and in-depth understanding of the global mining industry
will be extremely beneficial to our board as we continue to execute
our strategic growth plans in a challenging economic environment.
Tim's understanding of the importance of capital allocation will
only add to his contributions to our business."
Mr. Sullivan began his business career in the mining industry
when he joined Bucyrus, a global
designer and manufacturer of mining equipment, in 1976 where he
spent 19 years in positions of increasing managerial responsibility
for the company. He was named vice president of sales and
marketing in 1995. Mr. Sullivan was later promoted to executive
vice president before pursuing an opportunity outside of
Bucyrus when in 1999 he joined
United Container as president and chief executive officer.
Within a year he was recruited back to Bucyrus as president, a position he held from
2000 to 2004, where he successfully transformed the company's
financial position. In 2004, Mr. Sullivan was named president,
chief executive officer and a director of the company, a role he
held until 2011 when Bucyrus was
acquired. Mr. Sullivan recently joined CCMP Capital Advisors LLC in
2012, a private equity firm after a 34 year career with Bucyrus
International Inc.
Mr. Sullivan received a Master of Business Administration from
American University and a Bachelor of
Science from Carroll University. Currently, he serves as
director for Generac Holdings Inc., Aurora Health Care Inc., and
The Northwestern Mutual Life Insurance Company. Currently, he is a
special consultant to the Wisconsin Governor and also the chairman of
the Wisconsin Governor's Council
for Workforce Investment, Council for College and Workforce
Readiness. He is a past director for the National Mining
Association.
About Cliffs Natural Resources Inc.
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.
The Company is organized through a global commercial group
responsible for sales and delivery of Cliffs' products and a global
operations group responsible for the production of the minerals the
Company markets. Cliffs operates iron ore and coal mines in
North America and two iron ore
mining complexes in Western
Australia. In addition, Cliffs has a major chromite project,
in the feasibility stage of development, located in Ontario, Canada.
News releases and other information on the Company are available
on the Internet at: http://www.cliffsnaturalresources.com
SOURCE Cliffs Natural Resources Inc.