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Appointment of CEO
ArcelorMittal South Africa Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1989/002164/06)
Share code: ACL
ISIN: ZAE000134961
(“the Company")
APPOINTMENT OF CHIEF EXECUTIVE OFFICER
Shareholders are referred to the announcement released on SENS on
4 February 2014 announcing the appointment of Dr Hans Ludwig
Rosenstock as acting Chief Executive Officer (“CEO”) and
executive director with effect from 19 February 2014, while the
Board embarked on a search for a permanent CEO. This followed
the resignation of Ms Nonkululeko Nyembezi-Heita as CEO on
Tuesday 18 February 2014.
The Board is pleased to announce the appointment of Mr Paul Sean
O’Flaherty as the Chief Executive Officer and Executive Director
of the Company with effect from 1 July 2014.
Mr O’Flaherty is a Chartered Accountant (B.Acc, B.Com) and was
previously the Financial Director and Group Executive of Eskom
Holdings. Prior to this, he was the Chief Financial Officer and
Deputy CEO at Group Five Limited.
The Chairman of the Board, Mr Mpho Makwana, stated the following:
“We are delighted that a talented Executive of Mr O’Flaherty’s
caliber will join ArcelorMittal South Africa to inject new energy
into our efforts as we embark on a strategic turnaround of the
Company to restore profitability, business performance, BBBEE and
the strategic transformation of the Company. On behalf of the
Board, I extend a warm welcome to Mr O’Flaherty and wish to also
thank Dr Rosenstock for his contribution as Acting CEO for the
past three months.”
Dr Rosenstock will step down as Acting CEO with effect from 1
July 2014 and will revert back to his role as Chief Operations
Officer of ArcelorMittal South Africa and remains an Ex-Officio
member of the Board.
22 May 2014
Sponsor to ArcelorMittal South Africa Limited
J.P. Morgan Equities South Africa Pty Ltd
For further information please contact:
Kesebone Maema
Manager: Corporate Communications, Corporate Affairs
Tel: (016) 889 2425
Date: 22/05/2014 02:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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