Cliffs Natural names next chief executive

Fri Oct 25, 2013 8:29am EDT
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Oct 25 (Reuters) - Cliffs Natural Resources Inc said on Friday it has chosen former Barrick Gold Corp executive Gary Halverson as its next chief executive.

Cliffs said Halverson will become president and chief operating officer effective Nov. 18, reporting to the company's executive chairman.

"This will provide Mr. Halverson the opportunity to build a deep understanding of the business at an operating level before assuming the CEO leadership position," the company said in a statement.

Cliffs said in July that Chief Executive Joseph Carrabba would retire by the end of the year, and on Friday it said he will step down effective Nov. 15.