SeverCorr ‘squeeze-out’ aimed at four top execs

Dec 27, 2007 | 10:06 AM | Scott Robertson

The fate of up to four top executives of SeverCorr LLC, Columbus, Miss., could be known within a week as negotiations to resolve a management shakeup continue, sources said.

The talks between the mill's current management team, led by John Correnti, and executives at JSC Severstal, the steelmaker's majority shareholder, remain at a sensitive stage but have slowed somewhat, in part due to the holiday season, a SeverCorr spokesman said.

"This would suggest that nothing will happen until after Jan. 1," the spokesman said. "Something could be announced as soon as Jan. 3, but it might not be until Jan. 15."....

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