ArcelorMittal Re-Elects LN Mittal On Board For Next Three Years
Shareholders also approved Bruno Lafont and M Wurth’s appointment as director.
Shareholders of ArcellorMittal on Wednesday re-elected founder Lakshmi N Mittal along with two others to its board for the next three years.
Mittal is the chairman and chief executive officer of the world's largest steelmaker ArcelorMittal with an annual revenue of $56.8 billion and crude steel production of 90.8 million tonnes.
"The shareholders re-elected Lakshmi N Mittal, Bruno Lafont and M Wurth as directors of ArcelorMittal for a term of three years each," ArcelorMittal said after its annual and extraordinary general meetings held at its headquarters at Luxembourg.
As per the proposal that was put up before the shareholders, "Mittal should be re-elected considering his strategic vision for the steel industry in general and for the company", which was approved.
It said the board of directors will comprise only one executive director, LN Mittal, the chairman and CEO of the company and, its structure will be enhanced by the leadership provided by Bruno Lafont as the new lead independent director.
The term of four directors – Mittal, Lewis Kaden, Bruno Lafont and Michel Wurth – was due to expire this year.
