Aditya Mittal has been appointed ArcelorMittal chief executive, with Lakshmi Mittal to become executive chairman and continue to lead the board of directors and work with the new ceo, Kallanish notes.

“Having achieved some key strategic targets, this seems like the right moment to transition to Executive Chairman and the Board unanimously agree that Aditya Mittal is the natural and right choice to be the company’s Chief Executive,” Lakshmi Mittal says. “We have worked closely together since he joined the company in 1997, indeed in recent years we have effectively been managing the company together… He will be taking on the effective day to day running of the company, but we will continue to work very closely together.”

“The biggest challenge, but also the biggest opportunity, will be to demonstrate that steel can decarbonise and indeed is the perfect material for a circular economy,” Aditya Mittal observes. “This will undoubtedly be a critical driver of our strategy in the coming years and decades.”

Aditya Mittal is currently ArcelorMittal chief financial officer and president, as well as ArcelorMittal Europe ceo. Genuino Christino will replace him as group cfo. Christino has been ArcelorMittal head of finance since 2016 and has been working closely with Aditya Mittal on developing financial strategy.