Replies to post #17994 on The Rising Influence of Rising Affluence

[DewDiligence]

CLF hires CFO who is CEO’s historical sidekick:

http://www.clevelandcliffs.com/English/news-center/news-releases/news-releases-details/2019/Cleveland-Cliffs-Inc-Announces-New-Chief-Financial-Officer/default.aspx

Regarding the departure of Mr. Flanagan and the appointment of Mr. Koci, Cleveland-Cliffs’ Chairman, President and Chief Executive Officer, Lourenco Goncalves, stated: “I appreciate the work done by Tim Flanagan during the last several years with Cleveland-Cliffs. We accomplished many great things with Tim serving as an important part of the team, and I wish him the very best in his future endeavors.

“I am also very pleased that Keith Koci will relocate to Cleveland and, once again, work side-by-side with me. Keith was instrumental to me at Metals USA, through listing the company’s stock on the Nasdaq in 2003, taking it private in 2005, then IPO’ing it in 2010, and finally selling it to a strategic buyer in 2013.

…“I believe Keith Koci is, at this time, the right person to lead Cleveland-Cliffs’ Finance Department.”

[DewDiligence]

Re: CLF valuation

Now is a good time to reread the excellent analysis in #msg-146743618.

The share price when that post was written was about $12; it’s 1/3 less now—no wonder insiders have been buying!