ArcelorMittal rejigs management, bigger role for Aditya Mittal

Under the new portfolio shakeup, Aditya Mittal will have the additional responsibility for flat carbon for the European market as well.

By ET Bureau | Updated: May 25, 2011, 01.40 AM IST

MUMBAI ArcelorMittal on Tuesday extended the number of members at a key management committee and realigned vital portfolios including that of chief financial officer Aditya Mittal, sparking speculation that grooming process at the world’s largest steel company may have begun.

Aditya Mittal currently has the responsibility to head the flat carbon steel business in the Americas, along with functions of strategy, investor relations and communications. Under the new portfolio shakeup, Aditya Mittal will have the additional responsibility for flat carbon for the European market as well.

Michel Wurth, who was previously responsible for flat carbon Europe will now look after long carbon steel for the global market. “Emerging from the financial crisis, we felt ArcelorMittal would benefit to re-assign operating responsibilities to provide and encourage innovation and fresh-thinking,” said an ArcelorMittal spokesperson.

“We looked at the skills the segments needed and how they could be met. Aditya Mittal’s alignment with flat carbon Europe emerged as best fit.” The decision to allow Aditya Mittal to head flat carbon Europe is seen as important because the region is critical to ArcelorMittal and contributes 33% of the total revenue.

ArcelorMittal also decided to extend the number of members from 12 to 25. The portfolio shake-up retained other responsibilities. Sudhir Maheshwari will continue to hold responsibility for corporate finance, M&A and risk management in China and India, while Davinder Chugh will be responsible for shared services.

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