Lakshmi Mittal Is Chairman Of ArcelorMittal  Lakshmi Mittal |
ArcelorMittal which accounts for about ten percent of the world’s steel output has a new Chairman now. Lakshmi Mittal, the former Chief Executive Officer (CEO) of ArcelorMittal has been instated as the Chairman of the company. The new position will give Mittal more powers over the company. Referring to former chairman Joseph Kinsch, LN Mittal stated that he could not have asked for a better chairman during the time of the integration of Mittal Steels with Arcelor.
It is two years after the takeover of Arcelor by Mittal Steels that Mr. Mittal will lead the company that produces more than 100 million tones of steel a year and is about three times bigger than its nearest rival. LN Mittal and his family are known to own over 43 percent of the steel group till March 20.
The newly appointed chairman’s son Aditya Mittal is ArcelorMittal’s chief financial officer. Mr. LN Mittal went on to become one of the world’s richest men by transforming sick and ailing steel units around the world into money spinners by selling higher value products into the growing markets and by significantly reducing production costs.
The newly appointed chairman’s son Aditya Mittal is ArcelorMittal’s chief financial officer. Mr. LN Mittal went on to become one of the world’s richest men by transforming sick and ailing steel units around the world into money spinners by selling higher value products into the growing markets and by significantly reducing production costs.
