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Krecké Appointed to ArcelorMittal Board of Directors

12/22/2009 - In replacement of Georges Schmit, who is stepping down on December 31, the Board has co-opted Jeannot Krecké as an interim board member starting January 1, 2010. Krecké’s full appointment will be proposed at the company’s Annual General Meeting in May.

Georges Schmit will step down from his position as a member of ArcelorMittal’s Board of Directors on December 31, due to his appointment as Consul General of Luxembourg based in San Francisco.
 
In replacement of Schmit, the Board has co-opted Jeannot Krecké as an interim board member starting January 1, 2010. Krecke’s full appointment to the Board will be proposed to shareholders at the company’s Annual General Meeting scheduled May 11, 2010.
 
Krecké, who is Luxembourg’s Minister of the Economy and Foreign Trade, will serve on ArcelorMittal’s Board as a shareholder representative.
 
“Georges Schmit has been a great contributor to the Board,” said Lakshmi N. Mittal, Chairman and CEO of ArcelorMittal. “On behalf of all the Board of Directors, I would like to thank him for his dedication and hard work, particularly during the challenges of the past year. We are very pleased to welcome Minister Jeannot Krecké. He will be a valuable addition due to his extensive knowledge of the steel industry and of ArcelorMittal.”
 
“It has been a privilege to sit on the Board of Luxembourg’s largest company,” said Schmit. “I will continue to watch ArcelorMittal’s progress with great interest and pride and wish the company all the best for the future.”
 
“ArcelorMittal is a very important company to Luxembourg,” said Krecké. “The steel industry has always played a central role in our country’s economy, and we are all very proud that the world’s largest steel company is based here. Being a Board Member is an important responsibility and one which I will undertake with great commitment and interest.”
 
With operations in more than 60 countries, ArcelorMittal is a leader in all major global steel markets, including automotive, construction, household appliances, and packaging, with sizeable captive supplies of raw materials and outstanding distribution networks. With an industrial presence in more than 20 countries spanning four continents, the company covers all of the key steel markets, from emerging to mature. In 2008, ArcelorMittal had revenues of $124.9 billion and crude steel production of 103.3 million tonnes, representing about 10% of world steel output.