MESSAGE FROM THE CEO
As previously announced, I will be hosting my first quarterly earnings conference call with Cliffs’ investors on October 28. I look forward to my first opportunity to explain the Company’s strategy in greater detail to the buy/sell side analysts and investors in general. I have been at the Cliffs’ helm for 60 days as of October 7, and will be at the 90 day mark on November 7. This call will provide me an opportunity to update the investment community on the execution of my 90-Day Plan for Cliffs.
Cliffs is competitive. Cliffs is not a high-cost producer. Cliffs has a strong strategy being implemented by a committed management team. Unfortunately, the perceptions held by many outsiders are not an accurate representation of the Company. Clearly, it is my job to explain why, and I am sure that I will receive a lot of questions to the strategic direction of the Company, the business fundamentals and the stock performance. I look forward to that.
Cliffs has tremendous potential. I am excited to drive the Company forward on a new strategic path that restores and delivers value for our shareholders through clarity, discipline and building on Cliffs’ core strengths. As I’ve shared previously, the focus is to enhance our core business, the U.S. iron ore operations, while being strategic and open-minded about our global assets.
I would like to thank our long-term shareholders for your loyalty and the trust you show in our plan and in our ability to execute. My thanks also go to our customers for their confidence, as well as to our employees for their commitment to drive the performance which ultimately supports the execution of the strategy.
Chairman, President & Chief Executive Officer
Cliffs Natural Resources Inc.