United States Steel Corporation Announces Departure of General Counsel, Chief Compliance Officer and SVP Government Affairs
November 07 2017 - 5:35PM
Today, United States Steel Corporation (NYSE: X) announced that
Suzanne Rich Folsom, General Counsel, Chief Compliance Officer and
Senior Vice President Government Affairs, will resign from the
Company effective December 29, 2017.
“Suzanne played a pivotal role in driving the success of the
Company’s efforts to combat illegally subsidized and dumped steel
products that are being imported into the United States,” said
President and CEO David Burritt. “Her tireless leadership in
this arena benefitted the Company, the domestic steel industry, and
highlighted the threat that unfair trade represents to
manufacturing across the United States. We respect Suzanne’s
decision and are grateful for her many achievements serving the
Company. I thank Suzanne for her dedication to U. S. Steel and the
country, and I wish her continued success in the next phase of her
career."
Folsom began her tenure at U. S. Steel in 2014 as General
Counsel, Chief Compliance Officer and Senior Vice President of
Government Affairs. Known for her extensive expertise in
corporate transformation, legal affairs and international law, she
joined the Company to oversee all legal, regulatory, compliance,
corporate governance, and environmental matters. Her
responsibilities also included driving the Company’s public policy;
international trade, and government affairs initiatives; overseeing
the corporate aircraft group; as well as ensuring the profitability
of the USS Real Estate division and providing risk management
oversight for the Company’s joint ventures worldwide.
At U. S. Steel, Folsom built a world-class legal, regulatory and
compliance department, was instrumental in leading the Company’s
international trade litigation and public policy efforts to address
global steel overcapacity and illegal trade practices, and worked
with the executive team to undertake the implementation of business
transformation efforts to accelerate the Company’s performance
improvement plans, while maintaining a strong focus on its
corporate core values. In addition, she served as Company
Chairperson on the Negotiating Committee during the successful
negotiation of a new Collective Bargaining Agreement with the
United Steelworkers Union in 2015.
“I want to thank my U. S. Steel colleagues for the opportunity
to play a role in the transformation of this great Company, one
that is such a historic part of the manufacturing industry in our
country, and for the chance to help write the next chapter in its
storied history,” Folsom said. “I am proud of all that my
team accomplished over the last four years – and I thank them for
their dedication and support.”
Deputy General Counsel Richard Fruehauf assumes day-to-day
responsibility for legal operations to allow Folsom to focus on
strategic and transitional matters while the Company undertakes a
comprehensive search for a permanent replacement.
-oOo-
CONTACTS:Meghan Cox ManagerCorporate CommunicationsT – (412)
433-6777E – mmcox@uss.com
Dan Lesnak General ManagerInvestor RelationsT – (412) 433-1184E
– dtlesnak@uss.com
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