Steelmaker Cleveland-Cliffs announced Wednesday the appointment of economic advisor Ron Bloom to its Board of Directors, effective immediately; he will join the Governance & Nominating and Strategy & Sustainability Committees.
“We are honored to welcome Ron Bloom to our Board of Directors. Ron’s distinguished career represents the Cleveland-Cliffs culture perfectly, which includes fierce negotiating skills, fighting for the resilience of American manufacturing and a deep appreciation for organized labor and a thriving middle class,” said Cleveland-Cliffs CEO Lourenco Goncalves. “Ron’s track record at Lazard and Brookfield has also displayed an amazing ability to generate immense value creation, which he will bring to bear on behalf of our shareholders as a member of our Board.”
Bloom was a key player in the sale of assets of LTV Steel and Bethlehem Steel to the International Steel Group (ISG). ISG was acquired by Mittal Steel, which later merged with Arcelor to become ArcelorMittal; in September 2020, Cleveland-Cliffs announced it would acquire ArcelorMittal USA for $1.4 billion.
For over a decade, Bloom served as special assistant to the president of the United Steelworkers and was crucial in blocking the sale of Wheeling-Pittsburgh Steel to a Brazilian steel company.
While serving as senior advisor to the secretary of the treasury on the Obama administration’s Presidential Task Force on the Auto Industry, he was a driving force in the GM and Chrysler reorganizations. He has also served as assistant to the president for manufacturing policy.
Bloom is now a managing partner and vice chair in Brookfield Asset Management’s Private Equity Group and a partner at venture capital firm Commonweal Ventures.
The Cleveland-Cliffs’ Board of Directors now comprises 11 members.
