Menu
 
 
 

ArcelorMittal South Africa CEO to retire next year

Featured

The chief executive of ArcelorMittal, Wim de Klerk The chief executive of ArcelorMittal, Wim de Klerk
The chief executive of ArcelorMittal’s South African unit will step down in January 2018, the company said.
 
 
ArcelorMittal South Africa, the country’s largest steelmaker, has approved CEO Wim de Klerk’s request to retire after less than two years at the helm, the company said in a statement.
 
The company has had to cut costs to stem losses and has angled for emergency steel tariffs to protect the local industry against cheap imports it has said is hurting its business.
 
“Challenges remain and we will commence with a search to appoint a new CEO who can continue to implement our strategy and structurally improve the performance of the business,” the company said.
 
ArcelorMittal South Africa shares were down 2.7% at R5.70 by 0846 GMT and lagged a 0.1 decline in the JSE’s All-share index.
 
De Klerk, a former Exxaro executive, joined the company as chief executive in September 2016 and will depart at the end of January 2018.

 


 

Source

BusinessReport

back to top

Industries

About us

Follow us

Follow us @BusinessNewsCT

BusinessNewsCT High-tech connection solutions by Lapp https://t.co/wsFIY9V0aU https://t.co/KK9JPncbeT
BusinessNewsCT Competition time! Don't forget to sign up for @ConnexionZone's competion where you stand a chance to win a R45 000.… https://t.co/4lwc62Px5q
BusinessNewsCT Load-shedding risk increases as coal stockpiles drop https://t.co/sTK9wQy98q https://t.co/Tp07CCbpes