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Aditya ‘groomed’ to lead Mittal’s global steel empire

Aditya ‘groomed’ to lead Mittal’s global steel empire
PTI
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First Published: Sun, May 09 2010. 03 08 PM IST
Updated: Sun, May 09 2010. 03 08 PM IST
New Delhi: NRI billionaire Lakshmi Nivas Mittal, a month away from his 60th birthday, cherishes a dream about his Wharton-educated son Aditya Mittal taking over the reins of ArcelorMittal, the world’s largest steel company spread across 60 countries.
“I am very proud of Aditya. Whatever role he has got, he is doing it very well ... clearly he has been groomed to be the leader in the company in the future,” the CEO and chairman of $65-billion Luxembourg-headquartered ArcelorMittal, LN Mittal, told PTI.
Mittal, who will turn 60 on 15 June, was quick to add that the final decision about his successor would be taken up by the company board.
“... We don’t know. The board has to decide this,” he said, when asked about the timing of Aditya Mittal, an Economics graduate from the Wharton School, University of Pennsylvania in the United States, taking over the reins of the steel giant.
Aditya Mittal, ArcelorMittal’s chief financial officer, is said to have played a crucial role in its $32 billion merger deal with Arcelor in 2006.
He is also part of the Group Management Board which is responsible for strategic decisions of the company.
“Today, he (Aditya, 34) is doing a great job .... He is responsible for the strategy, finance, M&As, all American business for the flat (steel) products. He is very well accepted, admired and respected in the organisation,” a proud father said.
Senior Mittal, born at Sadulpur village of Churu district in Rajasthan, founded Mittal Steel Company in 1976 and guided its strategic development, culminating in the USD 32 billion takeover of Europe’s leading steel-maker Arcelor.
Together, they are one of the most powerful father-son duos on the global business stage.
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First Published: Sun, May 09 2010. 03 08 PM IST