New role for Aditya Mittal


PROMOTION: Aditya Mittal
(right) and father Lakshmi
PROMOTION: Aditya Mittal (right) and father Lakshmi

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.”