ArcelorMittal makes significant changes in top management
The company has inducted three new members into the Group Management Board, including a director specifically for India and Africa. India Inc's hotshots
By Sudeshna Sen, ET Online |
Arcelor Mittal has made significant changes to its top management team in the run up to its AGM in May when Lakshmi Mittal officially takes up his role as chairman of the board of directors after Joseph Kinsch steps down.
This also finally signals that the integration process of ArcelorMittal is complete, and is a new structure of the combined entity with LN Mittal firmly takes the helm as chairman and CEO.
The company has inducted three new members into the Group Management Board, including a director specifically for India and Africa.
Meanwhile, it has also nominated Lewis B Kaden in a newly established role of Lead Independent Director. ArcelorMittal announced that following the retirement of Malay Mukherjee, three new members have been inducted into the ArcelorMittal Group Management Board, the apex body that runs the company.
This also finally signals that the integration process of ArcelorMittal is complete, and is a new structure of the combined entity with LN Mittal firmly takes the helm as chairman and CEO.
The company has inducted three new members into the Group Management Board, including a director specifically for India and Africa.
Meanwhile, it has also nominated Lewis B Kaden in a newly established role of Lead Independent Director. ArcelorMittal announced that following the retirement of Malay Mukherjee, three new members have been inducted into the ArcelorMittal Group Management Board, the apex body that runs the company.
| Stories |
Sudhir Maheshwari, currently EVP Finance and M&A; will take over for M&A and project development, Davinder Chugh, currently EVP shared services will retain his portfolio reporting to the CEO LN Mittal, and Christophe Cornier, at present EVP forFlat Products Western moves to head up Asia, Africa & India, steel greenfield projects and equipment manufacturing.
These appointments will take the total number on the GMB to seven, including the CEO, Lakshmi Mittal and CFO, Aditya Mittal. Other members include Gonzalo Urquijo and Michel Wurth. The group management board will henceforth be appointed by the board of directors. "This expanded team reflects the increasing size, scope and ambitions of ArcelorMittal," Mr Laskhmi Mittal said in a statement.
As Mr Mittal takes on his role as chairman and CEO, the post of president has been abolished, as it is felt by the Board of directors that it was no longer relevant after operational and legal integration of Mittal Steel and Arcelor.
Instead, Mr Kaden, a long time director of Mittal Steel will take on the inaugural position as Lead independent director. Mr Kaden, an industry long timer and a former director of Mittal Steel, is expected to take on the role of coordinating and liaising between the board and the independent directors. These appointments will be effective May 14, after the AGM.
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