U.S. Steel CEO says 'golden share' will not curb reform strategy
U.S. Steel CEO David Burritt told Nikkei Asia that Washington's 'golden share' powers will not curb the company's reform plans. The CEO emphasised that the US-Japan industrial partnership is operating within a long-term investment framework.
U.S. Steel CEO David Burritt, in an exclusive interview with Nikkei Asia, said the 'golden share' that Washington retained after the merger with Nippon Steel will not curb the company's reform strategy. According to Burritt, the share grants veto rights over specific operational decisions on national-security grounds, but it does not interfere with the modernisation, plant investment and technology renewal processes.
The Nippon Steel–U.S. Steel transaction was completed last year with approval from the Trump administration. As part of the deal, Washington retained 'golden share' powers to safeguard US production bases and oversee employment commitments. Burritt said the framework provides investor confidence while preserving rapid decision-making capacity.
In the Nikkei interview, the company shared its views on steel prices, demand driven by AI data-centre construction, and electric-vehicle supply-chain issues. The company assessed that the industrial partnership between the US and Japan could be decisive in competition with other Asian steel producers.
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