ARCELOR NAMES ITS NEW PRESIDENT
THE world’s largest steel company, ArcelorMittal, announced on Monday (5) Aditya Mittal as its president.
Mittal will take on the new responsibility in addition to his current role as Group CFO and CEO of ArcelorMittal Europe.
His father, Lakshmi Mittal, who is the chairman and CEO of ArcelorMittal, said: “Aditya has proved himself an effective and accomplished manager as group CFO and CEO of our European operations, delivering results and creating value for the company. He will continue to work with me in shaping the future strategic direction of the group.”
The appointment comes days after ArcelorMittal said it has signed a joint venture formation agreement with Nippon Steel & Sumitomo Metal Corporation (NSSMC) to acquire Essar Steel India Limited.
A plan for the acquisition was submitted on February 12, the world’s leading steel and mining company said on March 2.
Lakshmi Mittal said: “Partnering with NSSMC for Essar Steel was always our intention and adds further strength to our offer.
“We believe that together we can contribute our knowledge and technology to support a rapid turnaround in Essar’s performance, enabling it to increase production, enhance its product capabilities and make a meaningful contribution to the future growth of India’s manufacturing sector and the development of its economy.”