Activist Investor Nominates Nine Candidates to U.S. Steel Board
U.S. Steel announced today that activist investor Ancora has nominated nine individuals to its board of directors. The move comes after Ancora disclosed a 0.18% stake in the steelmaker.
According to previous reports, Ancora plans to mobilize shareholders to remove U.S. Steel CEO David Burritt and influence the company to abandon its merger agreement with Nippon Steel.
In a statement, U.S. Steel acknowledged Ancora's nominations but emphasized that their interests may not align with all shareholders. The company's statement did not provide further details.