EXCO Resources (XCO) Appoints Wilbur L. Ross to Board
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EXCO Resources, Inc. (NYSE: XCO) announced that Wilbur L. Ross, Jr. has been appointed to its Board of Directors, effective March 2, 2012.
Wilbur L. Ross, Jr., Chairman and CEO of WL Ross & Co. LLC, may be one of the best known private equity investors in the U.S. His private equity funds bought Bethlehem Steel and several other bankrupt steel producers and revitalized them into the largest U.S. producer before merging them into Mittal Steel for $4.5 billion. Mr. Ross remains a Director of what is now ArcelorMittal, the world’s largest steel company. He also created and chairs International Textile Group, the most global American company in that industry; and International Auto Components Group, a $4.5 billion producer of instrument panels and other interior components, operating in 17 countries; Compagnie Europeenne de Wagons Sarl, the largest rail car leasing company in Europe; and American Home Mortgage Servicing Inc., the second largest servicer of subprime mortgages. He also chaired International Coal Group, which was sold to Arch Coal for $3.4 billion. He is a member of the Boards of AirLease Corp., Assured Guaranty, BankUnited and Greenbrier Companies, all NYSE-listed, of PLASCAR listed in Brazil, and of Sun Bancorp and Navigator Holdings, which are traded over the counter. He recently became Chairman of Diamond S Shipping which has committed to a 38 vessel crude and product tanker fleet.
Wilbur L. Ross, Jr., Chairman and CEO of WL Ross & Co. LLC, may be one of the best known private equity investors in the U.S. His private equity funds bought Bethlehem Steel and several other bankrupt steel producers and revitalized them into the largest U.S. producer before merging them into Mittal Steel for $4.5 billion. Mr. Ross remains a Director of what is now ArcelorMittal, the world’s largest steel company. He also created and chairs International Textile Group, the most global American company in that industry; and International Auto Components Group, a $4.5 billion producer of instrument panels and other interior components, operating in 17 countries; Compagnie Europeenne de Wagons Sarl, the largest rail car leasing company in Europe; and American Home Mortgage Servicing Inc., the second largest servicer of subprime mortgages. He also chaired International Coal Group, which was sold to Arch Coal for $3.4 billion. He is a member of the Boards of AirLease Corp., Assured Guaranty, BankUnited and Greenbrier Companies, all NYSE-listed, of PLASCAR listed in Brazil, and of Sun Bancorp and Navigator Holdings, which are traded over the counter. He recently became Chairman of Diamond S Shipping which has committed to a 38 vessel crude and product tanker fleet.
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