CLEVELAND, Oct. 27, 2016 /PRNewswire/ -- Cliffs Natural
Resources Inc. (NYSE: CLF) announced today that it has appointed
Eric M. Rychel to its Board of Directors, effective
immediately. Mr. Rychel is Executive Vice President, Chief
Financial Officer and Treasurer of Aleris Corporation, a privately
held company that is a global leader in aluminum rolled products.
He joined Aleris in 2012 and presently leads the global finance
activities for the organization. Mr. Rychel will join the Audit
Committee of Cliffs Natural Resources' Board. With the addition of
Eric Rychel, the Cliffs' Board of
Directors is now comprised of ten members, of which nine are
independent directors.
Lourenco Goncalves, Chairman of
the Board, President and Chief Executive Officer of Cliffs Natural
Resources stated, "I am honored that Eric Rychel is now a
member of Cliffs' Board. I have known and respected Eric for many
years, from Investment Banker to Corporate Executive to an
accomplished CFO. Eric's knowledge and diverse experience will
further strengthen our board's breadth of talent and
expertise."
As Aleris' Chief Financial Officer since 2014, Eric Rychel leads all of Aleris' capital
structure and key initiatives in finance. He provides leadership
for the global finance, investor relations and IT functions, and
also chairs Aleris' risk and benefits committees. Previously, Mr.
Rychel served as vice president and treasurer at Aleris, with
responsibility for treasury, strategy, corporate development and
investor relations, upon joining the company in 2012. Mr. Rychel
was a managing director in the Industrials Group at Barclays
Capital, Inc. between 2010 and 2012, where he initiated its Metals
industry banking effort as the global head of Steel and Metals
corporate finance coverage. Prior to that, Mr. Rychel was a
managing director at Deutsche Bank Securities, Inc., from 1998 to
2009, where he ran the Metals industry investment banking effort.
Mr. Rychel began his career as an analyst at LSG Advisors, an
M&A boutique and predecessor to SG Cowen. Mr. Rychel received
his Bachelor of Science in Economics degree from Wharton School of
the University of Pennsylvania.
In addition to Mr. Rychel's appointment to the Audit Committee,
Cliffs announced today other changes to its Board Committee
assignments effectively immediately. Michael Siegal, who is a current member of
Cliffs' Board of Directors, has been appointed to the Audit
Committee. Additionally, Gabriel
Stoliar has stepped down from the Audit Committee and has
been appointed as a member of the Compensation and Organization
Committee of the Board of Directors.
About Cliffs Natural Resources Inc.
Cliffs
Natural Resources Inc. is a leading mining and natural resources
company in the United States. The
Company is a major supplier of iron ore pellets to the North
American steel industry from its mines and pellet plants located in
Michigan and Minnesota. Cliffs also operates an iron ore
mining complex in Western
Australia. Driven by the core values of safety, social,
environmental and capital stewardship, Cliffs' employees endeavor
to provide all stakeholders operating and financial transparency.
News releases and other information on the Company are available at
http://www.cliffsnaturalresources.com.
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SOURCE Cliffs Natural Resources Inc.