Agarwal, 64, is the group head of finance and member of the management committee. He has worked for ArcelorMittal CEO Lakshmi Mittal since 1973 and helped establish Mittal’s first international greenfield project in Indonesia. 

“Bhikam was one of the first employees of ArcelorMittal. He was with me in the early days in Indonesia when we had nothing but a green field in front of us and has been with the company ever since. His energy, enthusiasm and knowledge will be much missed, but I can only wish him an extremely well- deserved retirement."

Agarwal served as head of Ispat Indonesia’s finance department until 1995. He was named chief financial officer (CFO) and executive director of Ispat International a few years later.

According to the company, Agarwal’s career at Ispat International career took him to Trinidad and Tobago, Mexico, Canada, Germany and Kazakhstan, among other countries, as head of group finance.

Through that role, Agarwal took part in several mergers and financing deals that contributed to Ispat International’s growth into a public company. He served as CFO and member of the board of director of Ispat International NV until the creation of Mittal Steel in 2004, the company said.

At Mittal Steel, Agarwal became managing director of controlling and CFO for the Americas business. After the merger of Mittal Steel and Arcelor in 2006, Agarwal was appointed group head of finance and member of ArcelorMittal’s management committee in 2006.

He’ll be succeeded by Genuino Christino, who will report to Aditya Mittal, group CFO and CEO of ArcelorMittal Europe. 

“Mr. Agarwal has made an outstanding contribution to this company over more than 40 years. He is someone who will always be considered part of ArcelorMittal, even in his retirement. His shoes are hard to fill but I have worked very closely with Genuino for a number of years now and have great confidence in his ability to step into this important position,”Aditya Mittal said in a statement.

The company additionally announced that it is replacing its group management board with a “more flexible structure.”
Therefore, the CEO office, which is made up of Mittal and his son, will now work directly with a team of seven executive officers whose duties collectively encompass the key regions and corporate functions.

Those executives are: Davinder Chugh, senior executive vice president and CEO of Africa and the CIS; Brian Aranha, executive vice president, head of strategy, CTO, R&D, CCM and global automotive; Jim Baske, executive vice president and CEO of ArcelorMittal NAFTA Flat Rolled; Henri Blaffart, executive vice president, group head of human resources and corporate services; Jefferson de Paula, executive vice president and CEO of ArcelorMittal South America Long; Geert van Poelvoorde, executive vice president and CEO of ArcelorMittal Europe Flat; and Simon Wandke, executive vice president and CEO of ArcelorMittal Mining.

The company said the CEO office and executive officers will be further supported by a group management committee, which will meet regularly to discuss strategic issues. 

The committee will include: Jose Manual Arias, CEO of BD South West and ArcelorMittal Europe Flat; John Brett, CEO of ArcelorMittal USA; Genuino Christino, vice president, head of group finance; Daniel Fairclough, vice president of corporate finance and head of investor relations; and Paramjit Kahlon, CEO ArcelorMittal Kryviy Rih.

In a statement, the company said the move will simplify its management structure, an action that is in line with its ongoing drive to promote a performance-driven culture. It said the move will empower operating segments to deliver optimum results.