The acquisition of U.S. Steel by Nippon Steel’s $14.9 billion deal has led to the appointment of three U.S. citizens to the board of directors for national security assurance purposes. The two companies made these appointments after they signed a national security pact with the Trump administration which required American leadership and board representation.
The company appointed Robert Stevens former Lockheed Martin CEO and retired Navy Admiral Timothy Keating and John Donovan who served on a top U.S. national security advisory panel to its board. The seven-member board now has four U.S. citizens as members with three independent directors among them.
The White House agreement included a provision for President Trump to choose a board member through his ”golden share” authority. The new director appointments appear to address political concerns about foreign control of a vital American asset but the company did not confirm if Trump personally chose any of the new board members.
The acquisition of Nippon Steel faced opposition from both parties in Washington because it raised concerns about national interests. The recent actions by U.S. Steel aim to address national security concerns as the company transitions to its new ownership structure.
