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BETHLEHEM STEEL CHAIRMAN W.F. WILLIAMS TO RETIRE OCT. 31; BOARD ELECTS SENIOR VICE PRESIDENT C.H. BARNETTE AS SUCCESSOR

 BETHLEHEM STEEL CHAIRMAN W.F. WILLIAMS TO RETIRE OCT. 31;
 BOARD ELECTS SENIOR VICE PRESIDENT C.H. BARNETTE AS SUCCESSOR
 BETHLEHEM, Pa., Sept. 2 /PRNewswire/ -- Walter F. Williams, chairman, president, chief executive officer and a director of Bethlehem Steel Corporation (NYSE: BS), announced his retirement, effective Oct. 31, 1992, and the election by Bethlehem's board of directors of Curtis H. Barnette as chairman and chief executive officer, effective Nov. 1, 1992.
 Barnette, 57, is advancing from the position of senior vice president, general counsel and secretary of the corporation.
 Williams, 63, also announced the board's election -- upon the recommendation of Barnette and with the concurrence of Williams -- of Roger P. Penny as president and chief operating officer and Gary L. Millenbruch as executive vice president and chief financial officer, effective Nov. 1. Barnette, Penny and Millenbruch are directors of the corporation.
 Penny, 56, is advancing from senior vice president, steel operations, and Millenbruch, 54, from senior vice president and chief financial officer.
 In announcing his retirement, Williams said, "Having served as chairman and chief executive officer for more than six years, president for over 12 years, and a director for almost 15 years, I feel that it's time to step down and spend a little more time with my family. My 41 years with the company have been a wonderful experience, and I'll miss the daily contacts with my many associates and friends at Bethlehem and in the community and in the steel industry."
 He added, "Numerous plans and programs necessary for Bethlehem's long-term success have been completed or are well under way, and we now have a strong management team in place to continue these activities. Having accomplished most of my goals, especially the major restructuring actions which have been so necessary for the company, there is now an appropriate window of opportunity for me to retire."
 Williams further stated, "Mr. Barnette with his years of experience with Bethlehem and knowledge of the industry is a proven leader, has the ability, and is eminently qualified to lead Bethlehem in the years ahead. He and the other members of the executive management team will assume the responsibility for continuing the many important activities now pending that must be completed and for initiating additional efforts that are needed to keep Bethlehem fully competitive in our businesses. I am confident that Mr. Barnette and the other team members have the necessary skills and qualifications to accomplish Bethlehem's goals. They will lead Bethlehem into a future that we are well positioned and ready for."
 Barnette said that, in looking to the future, "the action word is change. We live in an ever-changing business environment -- a tough competitive world -- and we must constantly change to meet the challenges. Our strategy is clear -- concentrate on steel, restructure our businesses and rebuild our financial strength. We must change to deal with the key priorities, and we can only do it if we work together to be a high-quality low-cost producer. I am determined and confident that we can complete the work that is pending, start new initiatives, and return the company to sustained profitability."
 /delval/
 -0- 9/2/92
 /CONTACT: H.H. Von Spreckelsen, manager, corporate communications of Bethlehem Steel, 215-694-3711/
 (BS) CO: Bethlehem Steel Corporation ST: Pennsylvania IN: MNG SU: PER


JS-LJ -- PH008 -- 5818 09/02/92 10:12 EDT
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Publication:PR Newswire
Date:Sep 2, 1992
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