PITTSBURGH (AP) - United States Steel Corp. says one of its top executives will take over as its new CEO in September as long-time leader John Surma transitions into retirement.
The steel company said Friday that it has elected Mario Longhi as its next chief executive. Longhi currently serves as the company's president and chief operating officer.
Surma, 59, will stay on as an executive chairman through the end of the year and then he will retire from the company and board. He has been president of the company since March 2003, CEO since 2004, and chairman since February 2006.
Longhi, also 59, joined U.S. Steel as its COO in July 2012 and was named president of the company in June. He was CEO of Gerdau Ameristeel for five years and worked at Alcoa for 23 years in a variety of positions.
U.S. Steel also said David Burritt, 58, will become its next chief financial officer. Current CFO Gretchen Haggerty, 57, announced her intention to retire in July.
The company also said General Counsel James Garraux, 60, will retire by the end of the year.
Shares of U.S. Steel lost 7 cents to $18.82 Friday and were unchanged in aftermarket trading.