John P. Surma
Encyclopedia
John P. Surma is the chief executive officer
and chairman of the board of United States Steel Corporation
.
in accounting in 1976 from Pennsylvania State University
, following which he joined Price Waterhouse
, in 1987, he was admitted as a partner. In 1983 Surma was picked for Ronald Reagan
’s Executive Exchange Program in Washington, D.C., where he worked with the Federal Reserve Board.
In 1997 he was hired at Marathon Oil
, then a subsidiary of U. S. Steel, as the senior vice president for finance & accounting. In 1998, he became president of Speedway SuperAmerica
, a subsidiary of Marathon, and in 2001 he became president of Marathon Ashland Petroleum, another subsidiary. When U. S. Steel and Marathon separated at the end of 2001, he stayed with U. S. Steel as vice chairman and chief financial officer. He became president of U. S. Steel in March 2003, and chairman of the board as of February 2006.
Among his current posts Surma is chairman of the International Iron and Steel Institute
, vice chairman of the American Iron and Steel Institute
, a member of the board of directors of the National Association of Manufacturers
, and the vice chairman of the Board of Trustees of Pennsylvania State University
. It was Surma's responsibility to publicly announce, on November 9, 2011, that the Board of Trustees had fired longtime Penn State football coach Joe Paterno
and University President Graham Spanier
over the Penn State sex abuse scandal
.
Surma is involved with education and community development in Pittsburgh.
Surma became an honorary member of the National Society of Black Engineers (NSBE) in 2006.
Surma received the American Iron and Steel Institute's Elbert Gary Medal in 2006.
In 2009 he requested a 20% salary reduction and more than 60% reduction in his compensation package citing the difficult business environment.
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
and chairman of the board of United States Steel Corporation
U.S. Steel
The United States Steel Corporation , more commonly known as U.S. Steel, is an integrated steel producer with major production operations in the United States, Canada, and Central Europe. The company is the world's tenth largest steel producer ranked by sales...
.
Biography
Surma received his bachelor’sBachelor's degree
A bachelor's degree is usually an academic degree awarded for an undergraduate course or major that generally lasts for three or four years, but can range anywhere from two to six years depending on the region of the world...
in accounting in 1976 from Pennsylvania State University
Pennsylvania State University
The Pennsylvania State University, commonly referred to as Penn State or PSU, is a public research university with campuses and facilities throughout the state of Pennsylvania, United States. Founded in 1855, the university has a threefold mission of teaching, research, and public service...
, following which he joined Price Waterhouse
PricewaterhouseCoopers
PricewaterhouseCoopers is a global professional services firm headquartered in London, United Kingdom. It is the world's largest professional services firm measured by revenues and one of the "Big Four" accountancy firms....
, in 1987, he was admitted as a partner. In 1983 Surma was picked for Ronald Reagan
Ronald Reagan
Ronald Wilson Reagan was the 40th President of the United States , the 33rd Governor of California and, prior to that, a radio, film and television actor....
’s Executive Exchange Program in Washington, D.C., where he worked with the Federal Reserve Board.
In 1997 he was hired at Marathon Oil
Marathon Oil
Marathon Oil Corporation is a United States-based oil and natural gas exploration and production company. Principal exploration activities are in the United States, Norway, Equatorial Guinea, Angola and Canada. Principal development activities are in the United States, the United Kingdom, Norway,...
, then a subsidiary of U. S. Steel, as the senior vice president for finance & accounting. In 1998, he became president of Speedway SuperAmerica
Speedway SuperAmerica
Speedway LLC is the operator of a chain of combination gas stations and convenience stores in the Midwest and South of the United States operating under the Speedway brand name. Speedway LLC is a wholly owned subsidiary of the Marathon Petroleum Company...
, a subsidiary of Marathon, and in 2001 he became president of Marathon Ashland Petroleum, another subsidiary. When U. S. Steel and Marathon separated at the end of 2001, he stayed with U. S. Steel as vice chairman and chief financial officer. He became president of U. S. Steel in March 2003, and chairman of the board as of February 2006.
Among his current posts Surma is chairman of the International Iron and Steel Institute
International Iron and Steel Institute
World Steel Association, often abbreviated as worldsteel, is the international trade body for the iron and steel industry. The association represents approximately 180 steel producers , national and regional steel industry associations and steel research institutes...
, vice chairman of the American Iron and Steel Institute
American Iron and Steel Institute
The American Iron and Steel Institute is an association of North American steel producers. Its predecessor organizations date back to 1855 making it one of the oldest trade associations in the United States. AISI assumed its present form in 1908, with Elbert H...
, a member of the board of directors of the National Association of Manufacturers
National Association of Manufacturers
The National Association of Manufacturers is an advocacy group headquartered in Washington, D.C. with 10 additional offices across the country...
, and the vice chairman of the Board of Trustees of Pennsylvania State University
Pennsylvania State University
The Pennsylvania State University, commonly referred to as Penn State or PSU, is a public research university with campuses and facilities throughout the state of Pennsylvania, United States. Founded in 1855, the university has a threefold mission of teaching, research, and public service...
. It was Surma's responsibility to publicly announce, on November 9, 2011, that the Board of Trustees had fired longtime Penn State football coach Joe Paterno
Joe Paterno
Joseph Vincent "Joe" Paterno is a former college football coach who was the head coach of the Penn State Nittany Lions for 46 years from 1966 through 2011. Paterno, nicknamed "JoePa," holds the record for the most victories by an NCAA Division I Football Bowl Subdivision football coach with...
and University President Graham Spanier
Graham Spanier
Graham B. Spanier is an American academic, who served as the 16th president of the Pennsylvania State University from September 1, 1995, until he was forced to resign on November 9, 2011, in the aftermath of the Penn State child sex abuse scandal...
over the Penn State sex abuse scandal
Penn State sex abuse scandal
The Penn State sex abuse scandal refers to allegations that former Pennsylvania State University football assistant coach Jerry Sandusky sexually assaulted or had inappropriate contact with at least eight underage boys on or near university property...
.
Surma is involved with education and community development in Pittsburgh.
Surma became an honorary member of the National Society of Black Engineers (NSBE) in 2006.
Surma received the American Iron and Steel Institute's Elbert Gary Medal in 2006.
Compensation
While CEO of United States Steel in 2008, John P. Surma earned a total compensation of $11,130,689, which included a base salary of $1,218,336, a cash bonus of $3,250,000, stocks granted of $4,174,028, options granted of $2,233,336, and other compensation of $254,989.In 2009 he requested a 20% salary reduction and more than 60% reduction in his compensation package citing the difficult business environment.
See also
- List of chief executive officers
- Executive OfficerExecutive officerAn executive officer is generally a person responsible for running an organization, although the exact nature of the role varies depending on the organization.-Administrative law:...