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ArcelorMittal SA appoints new CE

12 Dec 2017

ArcelorMittal SA has appointed Hendrik "Kobus" Verster as its new chief executive, replacing Wim de Klerk who in retiring in January.

Image source: www.pixabay.com

Verster will start in January as CE designate before officially settling into that role in February, the steel producer said on Monday, 11 December, in a statement.

Verster previously worked for ArcelorMittal SA as chief financial officer and executive director between 2006 and 2010.

De Klerk only served in the CEO role for a little more than a year, taking over from Paul O'Flaherty, who held the top job for only 18 months.

SA's biggest steel producer has, for some time, been battling low steel demand and rising input costs, compounded by cheap steel imports.

The share price was up 0.67% to R4.53 in mid-afternoon trade on the JSE, valuing the company at about R5bn.

Source: BDpro

Source: I-Net Bridge

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