Lakshmi Mittal to be CEO of Arcelor Mittal

LUXEMBOURG, Nov. 6 (UPI) -- Arcelor Mittal, the world's biggest steel maker, said board president Lakshmi Mittal has been named the chief executive of the Luxembourg-based firm.

The company said Roland Junck has stepped down as chief executive but will remain a member of the group management board with his existing portfolio and additional responsibility as adviser to the chief executive.

The group management board will now comprise Mr Lakshmi N. Mittal, Aditya Mittal, Roland Junck, Michel Wurth, Gonzalo Urquijo and Malay Mukherjee.

Arcelor Mittal shareholders must approve the new appointment.