U.S. Steel CEO Steps Down After Less Than 4 Years In The Role

By Tomi Kilgore Markets MarketWatch Pulse

U.S. Steel Corp. said Wednesday that Chief Executive Mario Longhi had stepped down as CEO this week after less than four years in the role. The company said he will remain on the board until he retires, effective June 30. Longhi joined the company in 2012 as chief operating officer, and was named CEO in September 2013. The company said current Chief Operating Officer David Burritt will assume the CEO role. "Mario played a key role in driving the company's transformation, including the successful implementation of The Carnegie Way," said Chairman David Sutherland. The stock, which edged up 0.3% in after-hours trade, has plunged 36% year to date through Wednesday, while the S&P 500 has gained 7.2%.

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