Renowned Executive Ron Bloom Joins Cleveland-Cliffs Board

Ron Bloom
Ron BloomImage Source: Brookfield

Synopsis:

Cleveland-Cliffs appoints private equity expert and political advisor Ron Bloom to its Board of Directors. With a prestigious background in investment banking, labor representation, and key advisory roles in various administrations, Bloom’s addition brings expertise in manufacturing revitalization and stakeholder advocacy to the company.

Article:

Cleveland-Cliffs, a prominent player in the steel industry, has named Ron Bloom, a highly regarded private equity executive and political advisor, to its Board of Directors. This appointment, effective immediately, bolsters the Board's expertise with Bloom's extensive experience in finance, labor advocacy, and strategic advisory roles.

Having graduated with distinction from Harvard Business School, Ron Bloom commenced his career as an investment banker at Lazard. His career path led to rejoining Lazard as Vice Chairman, U.S. Investment Banking. Subsequently, he represented organized labor, notably serving as Special Assistant to the President of the United Steelworkers (USW) and played a pivotal role in key industry transactions.

Bloom’s impact extended to national policy spheres, serving in various capacities within the Obama, Trump, and Biden administrations. Notably, he contributed significantly to the reorganization of major automotive companies and provided strategic leadership for the manufacturing sector revitalization during his tenure.

Currently, Bloom holds positions as Managing Partner and Vice Chair at Brookfield Asset Management’s Private Equity Group, overseeing investments across North America. Additionally, he serves as a Partner at Commonweal Ventures, focusing on early-stage technology investments.

Lourenco Goncalves, Cliffs' Chairman, President, and CEO, expressed gratitude for Bloom's inclusion, highlighting his alignment with the company's values of supporting American manufacturing resilience and organized labor. Goncalves anticipates Bloom's contribution in ensuring all stakeholders' voices are heard.

Mr. Bloom's role on the Cleveland-Cliffs’ Board includes participation in the Governance & Nominating and Strategy & Sustainability Committees. Bloom, a Harvard Business School MBA graduate, also holds a bachelor’s degree from Wesleyan University.

Conclusion:

Ron Bloom’s appointment to Cleveland-Cliffs’ Board of Directors signifies a strategic move to infuse diverse expertise into the company's leadership. His multi-faceted background spanning finance, labor representation, and policy advisory roles is expected to fortify the Board’s decision-making processes and steer the company towards sustained growth.

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