ArcelorMittal South Africa (AMSA) chief executive Paul O’Flaherty will step down after the announcement of the company’s 2015 results on 12 February 2016.

“The time has come for me to step down as the ceo as I wish to pursue other interests,” O’Flaherty says in a statement sent to Kallanish. “I will, however, remain on as a non-executive director to contribute to the roll-out of the strategy and maintain the relationships established with key stakeholders… I am confident that the steel industry in South Africa has a future.” No replacement has yet been identified.

Under O’Flaherty’s leadership AMSA has made steps towards “… installing the trade barriers desperately needed to ensure fair competition and the sustainability of the local steel industry,” the firm says. “Significant progress has also been made in agreeing on a pricing policy for steel to ensure the competitiveness of domestic steel producers as well as promotion of downstream beneficiation.”

AMSA plans to recapitalise through the recently approved rights offer, and in early 2016 will choose a black economic empowerment consortium partner. The latter will “… ensure that 25% of its shares are in the hands of black industrialists who can help grow the company locally and strengthen its presence in other countries on the continent,” AMSA observes.

As well as the pricing policy talks, AMSA is in discussions with the government to ensure a preference for local steel use in government infrastructure projects. AMSA’s deliveries rose 13% on-year in the September quarter to 1.17 million tonnes.