Cliffs Natural Resources Inc. Board Elects New Director
Mark E. Gaumond to Join Company's Board and Serve on Compensation and Audit
CLEVELAND, July 9, 2013
CLEVELAND, July 9, 2013 /PRNewswire/ --Cliffs Natural Resources Inc. (NYSE:
CLF) (Paris: CLF) announced today that its Board of Directors has elected Mark
E. Gaumond, 62, former Senior Vice Chair – Americas of Ernst & Young, as a new
director. The appointment is effective July 8, 2013. With the addition of Mr.
Gaumond, Cliffs' Board will be comprised of a total of 10 directors.
James Kirsch, non-Executive Chairman of Cliffs' Board of Directors, said,
"With his strong financial background working with large international
companies at both Arthur Andersen and Ernst & Young, Mark is an excellent
addition to Cliffs' Board. Mark has worked extensively with senior management
and audit committees of many different public and privately held companies."
"I am very pleased to join Cliffs' Board and be part of a highly regarded
mining company," stated Mark Gaumond. "I look forward to working with
management and my fellow board members to enhance shareholder value."
Mr. Gaumond has functioned as the lead partner on many key accounts, and held
senior management positions within two large accounting firms over the course
of his career. In 1976, Mr. Gaumond joined Arthur Andersen in New York and was
named a Partner in 1986. Over his 27 years with Andersen, Mr. Gaumond was a
coordinating partner on Fortune 500 clients. He also served as the Managing
Partner of Andersen's Stamford office for eight years.
In 2002, Mr. Gaumond joined Ernst & Young's New York office. He was appointed
Americas Senior Vice Chair in 2006 where he oversaw all revenue generating
activities for the Americas. Previously, Mr. Gaumond worked with several large
multinational clients and served as the Managing Partner of Ernst & Young's
San Francisco Office. He was a member of Ernst & Young's Americas Executive
Board and served on the Ernst & Young Partner Advisory Council. He also was
Senior Advisory Partner for several of the firm's largest clients.
Mr. Gaumond received a Master of Business Administration from the Leonard N.
Stern School of Business, New York University. He received his A.B. in
Government from Georgetown University. Currently, he serves as director for
Booz Allen Hamilton and Rayonier, Inc. He is a former trustee of the
California Academy of Sciences.
About Cliffs Natural Resources Inc.
Cliffs Natural Resources Inc. is an international mining and natural resources
company. A member of the S&P 500 Index, the Company is a major global iron ore
producer and a significant producer of high- and low-volatile metallurgical
coal. Cliffs' strategy is to continually achieve greater scale and
diversification in the mining industry through a focus on serving the world's
largest and fastest growing steel markets. Driven by the core values of
social, environmental and capital stewardship, Cliffs associates across the
globe endeavor to provide all stakeholders operating and financial
The Company is organized through a global commercial group responsible for
sales and delivery of Cliffs' products and a global operations group
responsible for the production of the minerals the Company markets. Cliffs
operates iron ore and coal mines in North America and an iron ore mining
complex in Western Australia. In addition, Cliffs has a major chromite
project, in the feasibility stage of development, located in Ontario, Canada.
News releases and other information on the Company are available on the
Internet at: http://www.cliffsnaturalresources.com
Follow Cliffs on Twitter at: http://twitter.com/CliffsNR.
SOURCE Cliffs Natural Resources Inc.
Contact: INVESTOR RELATIONS AND GLOBAL COMMUNICATIONS CONTACTS: Jessica Moran,
Director, Investor Relations, (216) 694-6532; Patricia Persico, Director,
Global Communications, (216) 694-5316
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