Board of directors

Board of directors

ArcelorMittal’s board of directors is responsible for the strategic direction and oversight of the company.

The Board has 12 directors, of whom 11 are non-executives and eight are independent. Lakshmi Mittal, Chairman and Chief Executive Officer, is the only executive director on the Board.

Lakshmi N Mittal

Lakshmi N Mittal

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Lakshmi N Mittal

Chairman and Chief Executive Officer

Lakshmi N Mittal, 65, is the Chairman and Chief Executive Officer of ArcelorMittal. Mr. Mittal started his career in steel in 1976 by founding Ispat Indo, a company that is still held privately by the Mittal family. He founded Mittal Steel (formerly the LNM Group) in 1989 and guided its strategic development, culminating in the merger in 2006 with Arcelor, to form ArcelorMittal, the world’s largest steelmaker. He is widely recognised for the leading role he has played in restructuring the steel industry towards a more consolidated and globalised model.

Mr. Mittal is an active philanthropist and a member of various boards and trusts, including chairman of the board of Aperam and the boards of Goldman Sachs and Airbus N.V. (previously EADS NV). He is a member of the Foreign Investment Council in Kazakhstan, the World Economic Forum’s International Business Council and the World Steel Association’s Executive Committee. He also sits on the board of trustees of Cleveland Clinic in the USA.

In 1996, Mr. Mittal was awarded ‘Steelmaker of the Year’ by New Steel in the United States and in 1998 the ‘Willy Korf Steel Vision Award’ by World Steel Dynamics for outstanding vision, entrepreneurship, leadership and success in global steel development. He was named Fortune magazine’s ‘European Businessman of the Year 2004’. Mr. Mittal was awarded ‘Business Person of 2006’ by The Sunday Times, ‘International Newsmaker of the Year 2006’ by Time Magazine and ‘Person of the Year 2006’ by the Financial Times for his outstanding business achievements.

In January 2007, Mr. Mittal was presented with a Fellowship from King’s College London, the college’s highest award. He also received in 2007 the Dwight D. Eisenhower Global Leadership Award, the Grand Cross of Civil Merit from Spain and was named AIST Steelmaker of the year. In January 2008, Mr. Mittal was awarded the Padma Vibhushan, India’s second highest civilian honour, by the President of India. In September 2008, Mr. Mittal was chosen for the third ‘Forbes Lifetime Achievement Award’, which honours heroes of entrepreneurial capitalism and free enterprise.

In October 2010, he was awarded the World Steel Association’s medal in recognition of his services to the Association as its Chairman and also for his contribution to the sustainable development of the global steel industry. In January 2013, Mr. Mittal was awarded with a Doctor Honoris Causa by the AGH University of Science and Technology in Krakow, Poland.

Mr. Mittal is a citizen of India.

Lewis B Kaden

Lewis B Kaden

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Lewis B Kaden

Lead independent director

Lewis B Kaden, 73, is the Lead independent director of ArcelorMittal, a member of the Audit & Risk Committee, and chairman of the Appointments, Remuneration and Corporate Governance Committee. He has approximately 40 years of experience in corporate governance, financial services, dispute resolution and economic policy. He is currently Senior Adviser of TGG Group and the John Harvey Gregory Lecturer on World Organization at Harvard University.

Mr. Kaden was vice chairman of Citigroup between 2005 and 2013. Prior to that, he was a partner of the law firm Davis Polk & Wardwell, and served as Counsel to the Governor of New Jersey, as a Professor of Law at Columbia University, and as director of Columbia University’s Center for Law and Economic Studies.

He has served as a director of Bethlehem Steel Corporation for ten years and is currently chairman of the Board of Trustees of the Markle Foundation and vice chairman of the Board of Trustees of Asia Society.

He is a member of the Council on Foreign Relations and of the Trilateral Commission, and is also moderator of the Business-Labor Dialogue. He is a Senior Fellow of the Moussavar-Rahmani Center on Business and Government at the Harvard Kennedy School of Government and Senior Fellow of the Program on Corporate Governance at the Center on the Legal Profession at Harvard Law School.

Mr. Kaden is a citizen of the USA.

Tye Burt

Tye Burt

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Tye Burt

Non-executive director

Tye Burt, 58, is a non-executive and independent director of ArcelorMittal and a member of the Appointments, Remuneration and Corporate Governance Committee. He was appointed President and Chief Executive Officer of Kinross Gold Corporation in March 2005, and held this position until August 1, 2012. Kinross is listed on the New York Stock Exchange and the Toronto Stock Exchange. Mr. Burt was also a member of the board of directors of Kinross.

Mr. Burt has broad experience in the global mining industry, specialising in corporate finance, business strategy and mergers and acquisitions. Prior to joining Kinross, he held the position of Vice Chairman and Executive Director of Corporate Development at Barrick Gold Corporation. He was President of the Cartesian Capital Group from 2000 to 2002; Chairman of Deutsche Bank Canada and Deutsche Bank Securities Canada; Global Managing Director of Global Metals and Mining for Deutsche Bank AG from 1997 to 2000; and Managing Director and Co-Head of the Global Mining Group at BMO Nesbitt Burns from 1995 to 1997, holding various other positions at BMO Nesbitt Burns from 1986 to 1995.

Mr. Burt is the Chairman of Urthecast Corp., a small Canadian TSX-listed company in the aerospace technology business. He is also the Chair and Principal at Carbon Arc Capital Investments Corp. and the Life Sciences Research Campaign Chair of the University of Guelph's Better Planet Project. Mr. Burt is a member of the Duke of Edinburgh's Award Charter for Business Board of Governors.

He is a graduate of Osgoode Hall Law School, a member of the Law Society of Upper Canada, and he holds a Bachelor of Arts degree from the University of Guelph.

Mr. Burt is a citizen of Canada.

Jeannot Krecké

Jeannot Krecké

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Jeannot Krecké

Non-executive director

Jeannot Krecké, 65, is a non-executive and non-independent director of ArcelorMittal. He started his university studies at the Université Libre de Bruxelles (ULB) in Belgium in 1969, from where he obtained a degree in physical and sports education. He decided in 1983 to change professional direction. His interests led him to retrain in economics, accounting and taxation. He enrolled in various courses, in particular in the USA.

Following the legislative elections of June 13, 2004, Mr. Krecké was appointed Minister of the Economy and Foreign Trade of Luxembourg on July 13, 2004. Upon the return of the coalition government formed by the Christian Social Party (CSV) and the Luxembourg Socialist Workers’ Party (LSAP) as a result of the legislative elections of June 7, 2009, Mr. Krecké retained the portfolio of Minister of the Economy and Foreign Trade on July 23, 2009.

As of July 2004, Mr. Krecké represented the Luxembourg government at the Council of Ministers of the EU in the Internal Market and Industry sections of its Competitiveness configuration as well as in the Economic and Financial Affairs Council and in the Energy section of its Transport, Telecommunications and Energy configuration. He was also a member of the Eurogroup from July 2004 to June 2009.

On February 1, 2012, Mr. Krecké retired from government and decided to end his active political career in order to pursue a range of different projects. Mr. Krecké is currently the CEO of Key International Strategy Services. He is a member of the boards of JSFC Sistema, of East West United Bank, of China Construction Bank Europe, of Calzedonia Finanziara S.A., Jan De Nul S.A. and Novenergia Holding Company S.A.

Mr. Krecké is a citizen of Luxembourg.

Bruno Lafont

Bruno Lafont

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Bruno Lafont

Non-executive director

Bruno Lafont, 59, is a non-executive and independent director of ArcelorMittal and a member of the Audit & Risk Committee. He began his career at Lafarge in 1983 and has held numerous positions in finance and international operations with the same company. In 1995, Mr. Lafont was appointed Group Executive Vice President, Finance, and thereafter Executive Vice President of the Gypsum Division in 1998. He joined Lafarge’s General Management as Chief Operating Officer in May 2003, and held that post until December 2005. He was appointed Chief Executive Officer in January 2006, and Chairman and Chief Executive Officer in May 2007. In July 2015, Mr. Lafont was appointed co-chairman of the board of directors of LafargeHolcim and Honorary Chairman of Lafarge.

Mr. Lafont currently chairs the Energy & Climate Change Working Group of the ERT (European Roundtable of Industrialists) and the Sustainable Development Commission of the MEDEF (Mouvement des Entreprises de France), the French Employers’ Association.

He is a member of the Executive Committee of the World Business Council for Sustainable Development (WBCSD) and a Board member of the AFEP (French large companies association). He is also a Special Adviser to the Mayor of Chongqing (China) and a board member of EDF.

Mr Lafont is a graduate from the Hautes Etudes Commerciales business school (HEC 1977, Paris) and the Ecole Nationale d’Administration (ENA 1982, Paris).

Mr. Lafont is a citizen of France.

Vanisha Mittal Bhatia

Vanisha Mittal Bhatia

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Vanisha Mittal Bhatia

Non-executive director

Vanisha Mittal Bhatia, 35, is a non-independent director of ArcelorMittal. She was appointed as a member of the LNM Holdings board of directors in June 2004. Mrs Mittal Bhatia was appointed to Mittal Steel’s board of directors in December 2004. She joined Aperam in April 2011 and is its chief strategy officer.

Mrs Mittal Bhatia has a Bachelor of Sciences from the European Business School. She is also the daughter of Mr. Lakshmi N Mittal.

Mrs. Mittal Bhatia is a citizen of India.

Suzanne P Nimocks

Suzanne P Nimocks

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Suzanne P Nimocks

Non-executive director

Suzanne P Nimocks, 56, is a non-executive and independent director of ArcelorMittal and a member of the Appointments, Remuneration and Corporate Governance Committee. She was previously a director (senior partner) with McKinsey & Company, a global management consulting firm, from June 1999 to March 2010, and was with the firm in various other capacities beginning in 1989, including as a leader in the firm’s Global Petroleum Practice, Electric Power & Natural Gas Practice, Organization Practice, and Risk Management Practice.

Mrs. Nimocks chaired the Environmental Committee of the Greater Houston Partnership, the primary advocate of Houston’s business community, until December 31, 2010. She holds a Bachelor of Arts in Economics from Tufts University and a Masters in Business Administration from the Harvard Graduate School of Business.

Mrs. Nimocks is currently a board member for Encana Corporation, Rowan Companies Plc, and Owens Corning, all listed companies. Encana is a major natural gas exploration and production company; Rowan Companies provides drilling services for the oil and gas industry; and Owens Corning is a manufacturer of building products. In the non-profit sector, she chairs the board of directors of the Houston Zoo and serves as a Trustee of the Texas Children’s Hospital.

Mrs. Nimocks is a citizen of the USA.

Karyn Ovelmen

Karyn Ovelmen

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Karyn Ovelmen

Non-executive director

Karyn Ovelmen, 52, is a non-executive and an independent director of ArcelorMittal and a member of the Audit & Risk Committee. She is the Executive Vice President and Chief Financial Officer of Flowserve, a leading provider of flow control products and services for the global infrastructure market, a position that she has held since June 2015. Most recently she also served as Chief Financial Officer and Executive Vice President of LyondellBasell Industries NV from 2011 to May 2015, as Executive Vice President and Chief Financial Officer of Petroplus Holdings AG from May 2006 to September 2010, and as Executive Vice President and Chief Financial Officer of Argus Services Corporation from 2005 to 2006. Prior to that, she was Vice President of External Reporting and Investor Relations for Premcor Refining Group Inc.

Mrs. Ovelmen also spent 12 years with PricewaterhouseCoopers, primarily serving energy industry accounts. She holds a Bachelor of Arts degree from the University of Connecticut, and is a Certified Public Accountant (CPA) of AICPA.

Mrs. Ovelmen is a citizen of the USA.

Wilbur L Ross, Jr

Wilbur L Ross, Jr

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Wilbur L Ross, Jr

Non-executive director

Wilbur L Ross, Jr, 78, is a non-executive and independent director of ArcelorMittal and a member of the Audit & Risk Committee. He is also the chairman of WL Ross Holding Corporation which is listed on NASDAQ. He is vice chairman of the Bank of Cyprus which is listed on the Cyprus and Athens Stock Exchanges, and is a director of Sun Bancorp (an ‘over-the-counter’, or OTC entity), and of Exco, which is listed on the New York Stock Exchange.

Mr. Ross has a number of non-profit affiliations. He is on the board of the Yale School of Management and the Harvard Business School Dean's advisory board.

He is chairman of the Japan Society and of the Economic Studies Council of the Brookings Institution, of which he is also a trustee. Mr. Ross is the president of the American Friends of the Magritte Museum and a member of the International Council of the Musée des Arts Décoratifs. He is also a trustee of the Palm Beach Retirement Funds, the Palm Beach Preservation Foundation and the Palm Beach Civic Association.

Mr. Ross is a citizen of the USA.

Antoine Spillmann

Antoine Spillmann

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Antoine Spillmann

Non-executive director

Antoine Spillmann, 52, is a non-executive and independent director of ArcelorMittal and a member of the Appointments, Remuneration and Corporate Governance Committee. He is the CEO and executive partner at the firm Bruellan Wealth Management, one of Switzerland’s leading independent asset management companies based in Geneva, Switzerland. He spends most of his time defending the rights of shareholders and investors in quoted companies in Switzerland. He served for five years as vice president of the Swiss association of asset managers.

Mr. Spillmann is a non-independent board member of Bondpartners SA (BPL) and Leclanché SA. BPL is a Swiss financial services company founded in 1972, authorised under the law to trade securities and controlled by the Swiss Financial Market Supervisory Authority (FINMA).

BPL is also a member of the Swiss Bankers Association, member of the International Capital Market Association and associated member of the Swiss Stock Exchange. Leclanché is a 100-year-old Swiss company that develops and produces energy storage systems using large-format lithium-ion cells. The firm is quoted on the SIX Stock Exchange.

Mr. Spillmann studied in Switzerland and London, receiving diplomas from the London Business School in Investment Management and Corporate Finance.

Mr. Spillmann is a citizen of Switzerland.

Narayanan Vaghul

Narayanan Vaghul

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Narayanan Vaghul

Non-executive director

Narayanan Vaghul, 79, is a non-executive and independent director of ArcelorMittal as well as the chairman of the Audit & Risk Committee. He has over 50 years of experience in the financial sector and was the chairman of ICICI Bank Limited between 2002 and April 2009.

Previously, he served as the chairman of the Industrial Credit and Investment Corporation of India, a long-term credit development bank, for 17 years and, prior to that, served as chairman of the Bank of India and executive director of the Central Bank of India. He also served for brief periods as a consultant to the World Bank, the International Finance Corporation and the Asian Development Bank.

Mr. Vaghul has been a visiting professor at the Stern Business School at New York University and a board member of Mahindra & Mahindra. He is chairman of the Indian Institute of Finance Management & Research and is also a board member of Wipro, Piramal Healthcare Limited and Apollo Hospitals.

Mr. Vaghul was chosen as a Businessman of the Year in 1992 by Business India. He also received a Lifetime Achievement Award from the Economic Times. In 2009, he was awarded the Padma Bhushan, India’s third highest civilian honour.

Mr. Vaghul is a citizen of India.

Michel Wurth

Michel Wurth

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Michel Wurth

Non-executive director

Michel Wurth, 61, is a non-independent director of ArcelorMittal. He joined Arbed in 1979 and held a variety of functions before joining the Arbed Group Management Board (GMB) and becoming its chief financial officer in 1996. The merger of Aceralia, Arbed and Usinor, leading to the creation of Arcelor in 2002, led to Mr. Wurth’s appointment as senior executive vice president and CFO of Arcelor. He became a member of ArcelorMittal’s Group Management Board in 2006, responsible for Flat Carbon Europe, Global R&D, Distribution Solutions and Long Carbon Worldwide, respectively. He retired from the GMB in April 2014 and was elected to ArcelorMittal’s board of directors in May 2014.

Mr. Wurth holds a law degree from the University of Grenoble, France, and a degree in political science from the Institut d’Études Politiques de Grenoble as well as a Master’s of Economics from the London School of Economics, UK. He is also doctor of laws honoris causa of the Sacred Heart University, Luxembourg.

Mr. Wurth has served as chairman of the Luxembourg Chamber of Commerce since 2004. He is also non-executive chairman of Paul Wurth S.A. and of BIP Investment Partners and non-executive director of BGL BNP Paribas S.A., of SMS Group and of Brasserie Nationale. Paul Wurth S.A. is controlled by SMS Group, a leading equipment and engineering supplier for the steel and non-ferrous metal producing industry. BIP Investment Partners is a Luxembourg-based company, mainly invested in private equity; BGL BNP Paribas is a Luxembourg bank, majority owned by BNP of France; and Brasserie Nationale is a privately-owned brewery based in Luxembourg.

Mr. Wurth is a citizen of Luxembourg.