Cliffs chiefs play musical chairs

CLIFFS Natural Resources has begun the second quarter this year with a major management and strategy overhaul that will realign several corporate departments under a single, new organizational structure.
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Image courtesy of Cliffs Natural Resources.

Justin Niessner

Effective immediately, the Cleveland-based coal miner said it is bringing corporate strategy, global communications and investor relations functions under one umbrella, as well as reassigning three key management positions.

Cliffs senior vice president for corporate strategy and treasurer Steven Raguz will provide executive leadership for the new organization and announced the newly nominated members of his team.

Vice president of investor relations and communications Steve Baisden will serve as vice president of strategy – Asia under the new organization, providing a corporate presence in the eastern hemisphere and leading analysis of global opportunities.

Cliffs executive chief financial officer Laurie Brlas said the move represented the iron and coal producer’s intentions to expand globally.

“Establishing this Asia-based officer position is indicative of Cliffs’ belief in where our future growth lies and the investments we need to make to support this growth,” she said.

In more reshuffling of management, investor relations manager Jessica Moran and senior global communications manager Patricia Persico will continue respectively as investment relations director and global communications director.

Moran will function as primary contact for sell-side analysts and communicate strategy to investors.

Perisco will lead the global communications team, providing strategic direction for branding, marketing and media relations.

Though primarily an iron producer, Cliffs’ coal portfolio includes six coal mines in West Virginia and Alabama and a 45% stake in a coking and thermal coal mine in Queensland, Australia.

The company posted revenues for the first quarter of 2012 totalling $1.3 billion, up from $1.2 billion in the previous corresponding quarter.

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