Joseph Kinsch to step down as Chairman of ArcelorMittal

ArcelorMittal has announced yesterday that Joseph Kinsch, Chairman of ArcelorMittal, will step down as Chairman of the Board of Directors at the company’s next AGM on 13 May 2008.

Lakshmi Mittal, President and CEO of ArcelorMittal thanked Mr Kinsch on behalf of all the members of the Board of Directors for the leadership he had shown as Chairman since the merger, adding that his vast experience of an illustrious 50 year career in the steel industry had been invaluable during the critical integration phase. Mr Kinsch will remain Chairman of the ArcelorMittal Foundation.

As per the post-merger arrangements detailed in the Memorandum of Understanding, signed on 25th June 2006, the Board has unanimously nominated Lakshmi Mittal to become the new Chairman. Mr Mittal, who will also continue in his role as Chief Executive Officer, will take up this position following the 2008 ArcelorMittal AGM.

Mr Kinsch said that he was proud to have chaired the company during what had been arguably the most important chapter yet in its history and that he was sure that under Mr Mittal’s guidance the Company would continue to go from strength to strength.