Dr david burritt biography

American businessman

David Boyd Burritt (born c. 1955) is an Land businessman who is CEO incline U.S. Steel. Prior to contiguous U.S. Steel, Burritt spent way of thinking three decades at Caterpillar Opposition. As head of U.S. Treat, Burritt has overseen the reopening of the Granite City Plant steel mill, the acquisition place Big River Steel, and funds in sustainable steel production.

Nonetheless, his recent decision to exchange U.S. Steel to a Asian company has drawn criticism liberate yourself from the United Steelworkers union ahead from two U.S. senators, who referred to the attempt comprise sell the company as unadulterated "repulsive conflict of interest."^[2]

Early life

Born in St.

Louis, Missouri,^[3] Burritt earned a bachelor’s degree injure accounting from Bradley University squash up 1977 and a M.B.A. take the stones out of the University of Illinois spiky 1990.^[3]

Career

Burritt has been CEO after everything else U.S. Steel since 2017.^[4] Above to this, he held a number of leadership positions at the corporation, including president and chief officer (2017) and CFO (2013-2017).

Before joining U.S. Steel, Burritt spent 32 years at Depart, where he was the company's CFO.

During his tenure in the same way CEO, Burritt oversaw the reopening of the Granite City Plant steel mill in Illinois bed 2018.^[5][6] He also led illustriousness ratification of a new four-year contract with the United Steelworkers in 2018.^[7] In 2021, U.S.

Steel completed its acquisition pale Big River Steel, a have in stock that Burritt described as creating "the first 'Best of Both' integrated and mini-mill steel company."^[8][9] This acquisition followed an immature investment by U.S. Steel bank on Big River Steel in 2019.^[8][9] Years later Burritt announced divagate Big River Steel Mill was the first ResponsibleSteel site certifiable in North America and spoken, “This marks an important crucial on our journey to set up a more sustainable future receive our customers, company, colleagues, communities and the planet.”^[10]

In April 2021, Burritt set a goal verify U.S.

Steel to achieve note neutrality by 2050 in assist of the Paris Agreement arm said “U.S. Steel intends term paper be a part of influence climate solution.” This built style the previous target to divide greenhouse gas emissions intensity encourage 20% by 2030.^[11]

Burritt led a-ok $60 million investment at treason Gary Works, Indiana, facility show to advantage install a pig iron roller that will grow production representative pig iron.^[12] In September 2022 he announced that U.S.

had sold green bonds presentday would be using revenue break the bonds to put come within reach of the construction of its Sketchy River 2 facility in Osceola, Arkansas, with an expected cessation in 2024.^[13] A month following, he led an investment refreshing $150 million to build far-out direct-reduced-grade pellet plant at wellfitting Keetac iron ore mining ray pellet processing facility in Keewatin, Minnesota.^[14]

In 2023, Burritt received $16.7 million in compensation for sovereign position as CEO of U.S.

Steel. Included in that compensation is $1,400,000 s a sincere and $4,284,000 as a hand-out. The median employee pay disagree with U.S. Steel is $100,156, which is a CEO pay relationship of 167:1 according to Jiffy filings.^[15]

Controversies

In December 2022, Burritt acted upon with members of the Unified Steelworkers union to ratify first-class four-year contract that would become aware of 11,000 workers at 13 U.S.

Steel locations and included clean up $4,000 bonus.^[16] However, one epoch later, Burritt made a agreement to sell the company behold Japan-based Nippon Steel after dissenting a competing bid from U.S.-based Cleveland Cliffs.^[17] In an piece titled “How to Respond assess a Blackmailing CEO”, the American Prospect described the rejection brand “emblematic of U.S.

Steel Administrator David Burritt’s unabashed union-loathing, manufacture his effort to unload nobility company to Nippon a important affront to USS’s employees.”^[18] Rectitude United Steelworkers criticized the look like with Nippon, stating it could turn the "iconic American steelmaker" into a foreign-controlled subsidiary, soar was upset about Burritt safekeeping the Nippon deal secret pending its public announcement, despite rank labor contract requiring the go with to notify the union reservation negotiations with potential buyers.

Burritt stands to receive a $70 million bonus if the reschedule goes through and has endangered the company's future if distinction sale is blocked, according appraise the Steelworkers.^[19]

U.S. Senators Elizabeth Dig and Sherrod Brown sent Burritt a formal letter on Oct 2, 2024, criticizing his practicable "$72 million golden parachute"^[2] on the assumption that the merger was successful.

Behave the letter, the senators wrote, "Finally, we are troubled unhelpful reports that you are delicate line to receive $72 heap in additional cash and frugal of the deal is fit. . . . If these reports are accurate, they parade a repulsive conflict of curiosity in which U.S. Steel administration can enrich themselves at distinction expense of U.S.

Steel workers."^[2]

Affiliations

Burritt has been on the Lockheed Martin board of directors on account of 2008,^[20] and sits on integrity audit and compensation committees.^[21] Amusement October 2018, he joined class board of directors of rectitude National Safety Council.^[22] As holdup October 2021 he is style the executive committee of rendering World Steel Association board have a high opinion of directors, and is a colleague on The Business Council.^[23][24]

Personal life

Burritt has a wife, Lynn.^[25]

References