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U.S. Steel board proposes 1-year terms

Keywords: Tags  steel, U.S. Steel, board of directors, elections

NEW YORK — U.S. Steel Corp.’s board of directors have voted unanimously to propose electing new directors to one-year terms.

The Pittsburgh-based steelmaker’s directors will submit the proposal to shareholders for a vote at the company’s 2014 annual meeting April 29, U.S. Steel said in a statement Feb. 3.

U.S. Steel’s directors currently serve three-year terms, with one-third elected each year. Under the new proposal, all directors would be elected annually by 2017.

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