Filed by USX Corporation
Pursuant to Rule 425 under the Securities Act of 1933
And deemed filed pursuant to Rule 14a-12
Of the Securities Exchange Act of 1934
Subject Company: USX Corporation
Commission File No. 1-5153
NEW EXECUTIVE POSITIONS NAMED FOR UNITED STATES STEEL
PITTSBURGH, August 1 - Thomas J. Usher, chairman and CEO of USX
Corporation (NYSE: X, MRO), today announced that the board of directors has
named three new executive positions for the anticipated January 1 start up of
United States Steel Corporation.
Reporting to Usher, as chairman, president and chief executive officer
of United States Steel, will be Roy G. Dorrance, vice chairman and chief
operating officer; Dan D. Sandman, vice chairman and chief legal &
administrative officer and John P. Surma, Jr., vice chairman and chief financial
officer. All three have also been identified as directors of United States
Steel Corporation, following the separation of USX's steel and energy
businesses.
Roy G. Dorrance, who was born in 1945, is currently executive vice
president of U. S. Steel. He is a native of Pittsburgh and holds a BS degree in
management from Massachusetts Institute of Technology and a master's degree in
industrial administration from Carnegie-Mellon University.
He began his career in 1968 in the Mon Valley operations of U. S.
Steel. Later, he served on the company's financial, international and resource
development staffs before being appointed vice president-commercial for U. S.
Steel Mining Company in 1982.
Dorrance became manager of plate products for U. S. Steel in 1985. He
was appointed vice president of U. S. Steel International, Inc. in 1989. He was
elected president of USX Engineers and Consultants, Inc. in 1992.
He was named vice president-purchasing and technology in 1994 and
appointed vice president-operations in 1995. In 1997, Dorrance assumed
responsibility for production, sales and marketing of U. S. Steel's sheet
products business as executive vice president. In January 2001, Dorrance was
named to his current position of executive vice president with responsibility
for new business development.
He is a member of the Association of Iron & Steel Engineers and a
member of the board of directors of the Winchester Thurston School and
Pittsburgh Theological Seminary.
Dan D. Sandman, who is currently general counsel, secretary and senior
vice president-Human Resources & Public Affairs for USX, was born in Cincinnati,
Ohio in 1948. He attended Ohio State University where he received a bachelor of
arts degree in 1970 and a law degree in 1973 before joining Marathon Oil
Company.
After moving through a series of positions in the marketing, antitrust
and domestic production law areas, Sandman was transferred in 1978 to Marathon's
London office. He returned to Findlay, Ohio and was named senior marketing
counsel in 1981. He was promoted to general attorney, refining & marketing in
1983 and in 1986, was named general attorney, U. S. exploration & production law
in the Houston office. He was elected general counsel and secretary of Marathon
later that year. He was elected secretary of USX Corporation in December 1992
and elected general counsel and secretary in February 1993.
In 1996, his duties were expanded to include overall responsibility
for human resources corporate wide, as well as direct responsibility for
executive compensation as senior vice president-human resources for USX. The
public affairs function was added to his responsibility in 1998.
Sandman is a member of the American, Pennsylvania and Ohio Bar
Associations and served on the American Petroleum Institute's General Committee
on Law. He formerly served on the board of trustees of the Pittsburgh Symphony
Orchestra and currently serves on the board of the Carnegie Museum, and Roppe
Corporation in Fostoria, Ohio.
John P. Surma, who was recently named assistant to the chairman of USX
Corporation effective September 1 and currently is president of Marathon Ashland
Petroleum LLC (MAP), was born in Pittsburgh in 1954. He graduated from
Pennsylvania State University in 1976 with a bachelor of science degree in
accounting.
He joined Price Waterhouse LLP in 1976 and was promoted to manager in
1981. He served in the Manchester, England, office of the Price Waterhouse
United Kingdom firm during that same year, and in 1982 returned to Pittsburgh in
the health care specialty department.
In 1983, Surma participated in the President's Executive Exchange
Program in Washington, D.C., where he served as executive staff assistant to the
vice chairman of the Federal Reserve Board. He returned to Pittsburgh, was
promoted to senior manager in 1985, and was admitted to the partnership in 1987.
Immediately prior to joining Marathon Oil Company, he was the
Pittsburgh office leader for Audit and Business Advisory Services, and national
co-leader of the Products Advisory Group, responsible for providing consulting
services to major manufacturing and process companies. Surma was named senior
vice president, Finance & Accounting for Marathon Oil Company in February 1997.
He was named president, Speedway SuperAmerica LLC in September 1998, and senior
vice president, Supply & Transportation for MAP in January 2000. He assumed his
current position of president of MAP in January 2001.
He is a member of the American Institute of Certified Public
Accountants, the Pennsylvania State Institute and the National Association of
Accountants. He is a member of the boards of Calgon Carbon Corporation, Ohio
Foundation of Independent Colleges, National Association of Convenience Stores
and the American Petroleum Institute.
* * * * *
The foregoing contains "forward-looking statements" which are based on
(1) a number of assumptions concerning future events made by management and (2)
information currently available to management. Readers are cautioned not to put
undue reliance on such forward-looking statements, which are not a guarantee of
performance and are subject to a number of uncertainties and other facts, many
of which are outside USX Corporation's control, that could cause actual events
to differ materially from such statements. For a more detailed description of
the factors that could cause such a difference, please see USX Corporation's
filings with the Securities and Exchange Commission. There are also a number of
uncertainties, risks, conditions and other factors which could prevent the
implementation of the above described plan of reorganization.
In connection with the above described transactions, USX Corporation
intends to file a proxy statement and other materials with the Securities and
Exchange Commission. Security holders are urged to read these materials when
they become final because they will contain important information. Investors
and security holders may obtain a free copy of these materials as well as other
materials filed with the Securities and Exchange Commission concerning USX
Corporation at the Securities and Exchange Commission's website at
http://www.sec.gov. In addition, these materials and other documents may be
obtained for free from USX Corporation by directing a request to USX Corporation
at 600 Grant Street, Pittsburgh, PA 15219; Attn: Investor Relations.
USX Corporation and its officers and directors may be deemed to be
participants in the solicitation of proxies from USX Corporation's stockholders
with respect to these transactions. Information regarding such officers and
directors is included in USX Corporation's proxy statement for its 2001 annual
meeting of stockholders filed with the Securities and Exchange Commission on
March 12, 2001. This document is available free of charge at the SEC's internet
site or from USX Corporation as described above.