David M. Roderick*
Class of 1988
- Chairman and CEO USX Corporation
Born and raised in Pittsburgh, David Roderick was the son of a postal employee. There were three children in the family, but the household also included Roderick's grandparents and an uncle. Roderick's grandfather was an Irish farmer who, at 65, immigrated to Pittsburgh to work in a department store. "He worked six days a week, 10 hours a day until he was 95," said Roderick.
Following the example of his elders, Roderick started working at an early age, delivering newspapers, selling the Saturday Evening Post, and caddying at a local country club. After high school, he worked as a messenger for Gulf Oil Corp.
During World War II, Roderick served as a platoon sergeant in the U.S. Marine Corps. He returned to Gulf Oil at the end of the war, and used the GI bill to finance his education in accounting while attending the Robert Morris School of Business at night. He later earned a degree in economics and finance from the University of Pittsburgh.
In 1953, Roderick left Gulf Oil to serve as a financial analyst for the Union Railroad Company, a subsidiary of U.S. Steel Corp. He worked his way up to assistant comptroller; in 1973, he became chairman of the finance committee. Two years later, he was named president of U.S. Steel, and he became chairman in 1979.
Roderick was credited with guiding U.S. Steel (renamed USX from 1986 to 2001) through its most turbulent years, transforming it from total dependence on the shrinking steel market to a diversified energy company with nearly two-thirds of its revenues derived from sources other than steel. "It was clear when I became chairman that we would need massive restructuring in the steel sector," said Roderick. "Steel was not a growth area. My contribution was to reshape the company." In 1989, he retired from USX.
In 1991, USX dedicated the David M. Roderick Wildlife Reserve on 3,400 acres of property it owned in Erie County, Pennsylvania. The company thought it appropriate to name the reserve after the man who had done so much to lead it through difficult times. And in 2006, the American Ireland Fund gave Roderick its Distinguished Leadership Award for his exceptional work in community and charitable events.
"People who achieve success are not necessarily brighter or more talented than others," he said when asked about his career. "They're successful because they have dedicated themselves, imposed discipline on themselves, and made sacrifices of time and energy. There is no easy road to success."
Honored by his Horatio Alger Award, Roderick said, "A deep commitment to excellence is the only way to the top. If you aren't willing to pay the price, you may as well accept the fact that you won't get anywhere. If there's no commitment, the world won't come knocking on your door."