ArcelorMittal announces changes to organisational structure
December 11 2013 - 11:24AM
Luxembourg, 11 December 2013 -
ArcelorMittal today announces it has reviewed its organisation with
the aim of simplifying it.
As a result, it has been decided to manage the
business according to region, while also maintaining the product
specialisation within those regions. This will enable the
businesses to continue to have their own dedicated strategy and
focus, while capturing all the synergies within the region.
Separately, Michel Wurth has notified his
intention to retire from the company in April 2014. He will
retain his links with the company as chairman of ArcelorMittal
Luxembourg and, subject to approval at the annual general meeting,
as a member of the ArcelorMittal board of directors.
Management of the business will be re-organised as
follows, with the following Group Management Board (GMB)
responsibilities:
- Flat Carbon Europe, Long Carbon Europe and
distribution solutions will report to Aditya Mittal as CEO of
ArcelorMittal Europe. He will remain CFO of
ArcelorMittal.
- Flat Carbon Americas, Long Carbon Americas will
report to Lou Schorsch as CEO of ArcelorMittal Americas. He
remains in charge of several corporate activities (strategy,
technology, R&D, global automotive and commercial
co-ordination).
- Sudhir Maheshwari's responsibilities remain the
same, as CEO of India and China and head of M&A, finance and
risk management.
- Algeria, Kazakhstan, South Africa and Ukraine
will report to Davinder Chugh as CEO of ArcelorMittal Africa and
the CIS.
- Tubular products will report to Gonzalo Urquijo,
who will also become head of health and safety and corporate
affairs (government affairs, corporate responsibility and
communication)
Separately Henri Blaffart, in addition to being
executive vice president and group head of human resources, will
also take responsibility for corporate services encompassing legal,
capital goods, shipping and IT, reporting to the CEO. Bill
Scotting remains CEO of Mining. Robrecht Himpe is appointed head of
business optimisation Europe and will report to Aditya Mittal.
Geert Van Poelvoorde is appointed head of Flat Carbon Europe and
will also report to Aditya Mittal.
Commenting, Lakshmi Mittal, chairman and CEO,
said:
"We have implemented these changes to simplify the organisation and
ensure we have the strongest possible foundation from which to
operate and grow in the future. I am confident that these
modifications will enable us to achieve that.
"I would also like to take this opportunity to
thank Michel Wurth for everything he has contributed to the company
over the past seven years. He is a much valued and respected
colleague, who has a very real and genuine passion and commitment
to the steel industry. I am delighted that he will retain his
links with the company, as both a member of the board and chairman
of ArcelorMittal Luxembourg."
The company does not expect significant changes to
the way it currently groups its operating segments for external
reporting purposes.
About
ArcelorMittal
ArcelorMittal is the world's
leading steel and mining company, with a presence in more than 60
countries and an industrial footprint in over 20 countries. Guided
by a philosophy to produce safe, sustainable steel, we are the
leading supplier of quality steel in the major global steel markets
including automotive, construction, household appliances and
packaging, with world-class research and development and
outstanding distribution networks.
Through our core values of
sustainability, quality and leadership, we operate responsibly with
respect to the health, safety and wellbeing of our employees,
contractors and the communities in which we operate.
For us, steel is the fabric of
life, as it is at the heart of the modern world from railways to
cars and washing machines. We are actively researching and
producing steel-based technologies and solutions that make many of
the products and components we use in our everyday lives more
energy-efficient.
We are one of the world's five
largest producers of iron ore and metallurgical coal and our mining
business is an essential part of our growth strategy. With a
geographically diversified portfolio of iron ore and coal
assets, we are strategically positioned to serve
our network of steel plants and the external global market. While
our steel operations are important customers, our supply to the
external market is increasing as we grow.
In 2012, ArcelorMittal had
revenues of $84.2 billion and crude steel production of 88.2
million tonnes, while iron ore production reached 55.9 million
tonnes.
ArcelorMittal is listed on the
stock exchanges of New York (MT), Amsterdam (MT), Paris (MT),
Luxembourg (MT) and on the Spanish stock exchanges of Barcelona,
Bilbao, Madrid and Valencia (MTS).
For more information about
ArcelorMittal please visit: www.arcelormittal.com.
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Contact information ArcelorMittal
Investor Relations |
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Europe |
+ 352 4792 3198 |
Americas |
+1 312 899 3985 |
Retail |
+ 44 203 214 2417 |
SRI |
+ 44 203 214 2854 |
Bonds/Credit |
+ 33 171 92 10 26 |
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Contact information ArcelorMittal
Corporate Communications |
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E-mail: |
press@arcelormittal.com |
Phone: |
+352 4792 5000 |
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ArcelorMittal Corporate
Communications |
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Sophie Evans (head of media relations) |
+44 20 3214 2882 |
Laura Nutt |
+44 20 7543 1125 |
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United Kingdom |
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Maitland Consultancy: |
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Martin Leeburn |
+ 44 20 7379 5151 |
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France |
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Sylvie Dumaine / Anne-Charlotte Creach |
+ 33 1 5370 7470 |
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: ArcelorMittal S.A. via Globenewswire
HUG#1749294
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