The Arcelor Mittal board has appointed Lakshmi Nivas Mittal as the CEO of the of newly-formed company. When Mittal Steel took over Arcelor in the highly charged 22 billion euro takeover bid, Mittal Steel pledged that Mittal would not go for the top executive post of the company and instead Roland Junck, the Arcelor incumbent CEO would continue in his post. However, now Mittal has decided to take a U-turn and become the company chief.
On this Joseph Kinsch, Chairman, Arcelor Mittal said Lakshmi Mittal was now taking the CEO’s role in what he said was to ‘to clarify the leadership of the company’.
He said;
It had become clear over the past months that the interests of the company were not best served by the previous structure.
However Junck will remain a board member and will act as an adviser to Mittal.
The Arcelor Mittal group is the world’s largest steel company and nearly three times the size of the second biggest one.
