Illustrative Editorial of AK Steel Holding Corp. website homepage. Photo: Pavel Kapysh/Shutterstock.comAK Steel's Longtime General Counsel to Depart After $3B Acquisition
Joe Alter stated that his "last day with the company will come in the next couple of weeks." His announcement follows the completion of Cleveland-Cliff Inc's $3 billion acquisition of AK Steel earlier this month.
March 27, 2020 at 01:03 PM
3 minute read
The longtime top lawyer for AK Steel Holding Corp. is stepping down in the wake of the Fortune 500 company's $3 billion acquisition by Cleveland-Cliffs Inc.
Joe Alter announced Friday that his "last day with the company will come in the next couple of weeks." He has worked in AK Steel's legal department for 11 years and was named general counsel and corporate secretary in 2014.
"It has been my privilege to be part of a great company and to collaborate with such fantastic employees, particularly as General Counsel and a member of the Executive leadership team during the past six years. I know the company has a bright future ahead as part of Cleveland-Cliffs, Inc. and I'm excited about its prospects," Alter wrote on LinkedIn.
He added, "I look forward to catching up with all of you in the near future and updating you on my next position."
Attempts to speak with Alter or a representative for AK Steel were not immediately successful.
Alter joined AK Steel in 2009 as corporate counsel and chief compliance officer and went on to serve as assistant general counsel before he was elevated to the top lawyer position. He began his legal career in 2002 and spent the following six years in private practice before joining customer management products firm Convergys Corp. as corporate counsel.
His departure follows Cleveland-Cliffs completion March 13 of its acquisition of AK Steel, which makes steel products for the automotive, infrastructure and manufacturing, electrical power generation and distribution markets. The company has applauded the Trump administration's tariffs on imported steel.
Cleveland-Cliffs is based in Cleveland and has about 12,000 employees in mining and steel manufacturing operations throughout the U.S., Canada and Mexico. James Graham has served as the company's chief legal officer since 2014.
United Auto Workers Local 3044 reported Thursday that one of the company's operations, AK Steel Rockport Works, a 1.75 million-square-foot facility in Indiana, was temporarily reducing operations and laying off 48 employees for two weeks beginning March 31.
The announcement came days after the union reported that a Rockport Works employee was confirmed to have COVID-19.
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