MegaBanner-Right

MegaBanner-Left

LeaderBoad-Right

LeaderBoard-Left

Home » Industry News » ArcelorMittal South Africa CEO to retire next year

ArcelorMittal South Africa CEO to retire next year

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

To enquire about Cape Business News' digital marketing options please contact sales@cbn.co.za

Related articles

Strategic partnerships – easing the path for IPPs navigating South Africa’s energy regulations

Independent Power Producers (IPPs) and developers venturing into South Africa’s renewable energy sector face an onerous and challenging regulatory landscape characterised by uncertainty in...

Battery price drop boosts Africa’s solar energy storage – AFSIA

By Larry Claasen THE slow uptake of electric vehicles (EVs) has inadvertently led to a battery price drop, resulting in cheaper solar storage on the...

MUST READ

City delivering real change

Behind every budget line, every policy, and every project there are real people, real challenges, and a shared future we are shaping. In a...

RECOMMENDED

Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.