{"id":6647,"date":"2025-01-27T20:43:12","date_gmt":"2025-01-27T20:43:12","guid":{"rendered":"https:\/\/stoxpo.com\/?p=6647"},"modified":"2025-01-27T20:43:14","modified_gmt":"2025-01-27T20:43:14","slug":"steel-veteran-alan-kestenbaum-eyes-leadership-role-at-u-s-steel","status":"publish","type":"post","link":"https:\/\/stoxpo.com\/index.php\/2025\/01\/27\/steel-veteran-alan-kestenbaum-eyes-leadership-role-at-u-s-steel\/","title":{"rendered":"Steel Veteran Alan Kestenbaum Eyes Leadership Role at U.S. Steel"},"content":{"rendered":"\n

Plans Major Investment if Named CEO Amid Activist Push to Halt Nippon Deal<\/h4>\n\n\n\n

Alan Kestenbaum, a veteran of the steel industry, has expressed his willingness to make a substantial personal investment in United States Steel Corp. (U.S. Steel) if the company abandons its planned merger with Nippon Steel Corp. and he is appointed as its next CEO.<\/p>\n\n\n\n

“I want to have a stake in something that I\u2019m going to be involved in,\u201d Kestenbaum stated in an interview Monday. \u201cIf I get the chance to run the show, I\u2019ll invest in myself.\u201d<\/p>\n\n\n\n

Kestenbaum\u2019s comments follow a push by activist investor Ancora Holdings Group to derail the $14.1 billion Nippon deal, which was blocked by the Biden administration earlier this month. Ancora has nominated nine candidates to U.S. Steel\u2019s board, including Kestenbaum, with the aim of replacing current CEO David Burritt.<\/p>\n\n\n\n

Kestenbaum, currently CEO of private equity firm Bedrock Industries Group, is known for his turnaround expertise. In 2017, he acquired U.S. Steel\u2019s Canadian assets, rebranded them as Stelco, and led a seven-year reorganization that culminated in a $2.7 billion sale to Cliffs. Despite his track record, there is no guarantee Kestenbaum will be appointed CEO, as Ancora holds only 0.18% of U.S. Steel\u2019s outstanding shares.<\/p>\n\n\n\n

Kestenbaum indicated he supports Ancora\u2019s plan to \u201cfix\u201d U.S. Steel but refrained from revealing specifics. He emphasized his experience in boosting morale, improving operations, and installing effective leadership teams.<\/p>\n\n\n\n

While willing to invest enough to become U.S. Steel\u2019s largest shareholder, Kestenbaum criticized the current stock price as overvalued, adding, \u201cI intend to take a major position in U.S. Steel\u2014assuming the price is right.\u201d<\/p>\n\n\n\n

This leadership shakeup, combined with Ancora’s activist efforts, could significantly reshape the Pittsburgh-based steel giant’s future trajectory.<\/p>\n\n\n\n

You might like this article: Small Tech Stocks Soar on DeepSeek Integration, Defying Broader Market Selloff<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"

Plans Major Investment if Named CEO Amid Activist Push to Halt Nippon Deal Alan Kestenbaum, a veteran of the steel industry, has expressed his willingness to make a substantial personal investment in United States Steel Corp. (U.S. Steel) if the company abandons its planned merger with Nippon Steel Corp. and he is appointed as its […]<\/p>\n","protected":false},"author":2,"featured_media":2087,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jnews-multi-image_gallery":[],"jnews_single_post":{"subtitle":"","format":"standard","video":"","gallery":"","source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"8","single_blog_custom":"","parallax":"1","fullscreen":"1","layout":"right-sidebar-narrow","sidebar":"author","second_sidebar":"single-right","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"0","show_view_counter":"0","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"0","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"1","post_reading_time_wpm":"300","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"1","show_popup_post":"1","number_popup_post":"1","show_author_box":"0","show_post_related":"1","show_inline_post_related":"0"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"","hide":""},"jnews_social_meta":{"fb_title":"","fb_description":"","fb_image":"","twitter_title":"","twitter_description":"","twitter_image":""},"jnews_override_counter":{"override_view_counter":"0","view_counter_number":"0","override_share_counter":"0","share_counter_number":"0","override_like_counter":"0","like_counter_number":"0","override_dislike_counter":"0","dislike_counter_number":"0"},"jnews_post_split":{"enable_post_split":"0","post_split":[{"template":"1","tag":"h2","numbering":"asc","mode":"normal","first":"0","enable_toc":"0","toc_type":"normal"}]}},"categories":[361,352],"tags":[421,416,418,576,417,556,557],"coauthors":[454],"_links":{"self":[{"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/posts\/6647"}],"collection":[{"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/comments?post=6647"}],"version-history":[{"count":1,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/posts\/6647\/revisions"}],"predecessor-version":[{"id":6649,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/posts\/6647\/revisions\/6649"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/media\/2087"}],"wp:attachment":[{"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/media?parent=6647"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/categories?post=6647"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/tags?post=6647"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/coauthors?post=6647"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}