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ACL: Appointment Of CEO and Executive Director.
ArcelorMittal South Africa Limited
(Incorporated in the Republic of South Africa)
(Registration Number 1989/002164/06)
Share Code: ACL
ISIN: ZAE000134961
(“ArcelorMittal South Africa” or “the Company”)
Appointment of Chief Executive Officer and Executive Director
Shareholders are referred to the SENS announcement published
on 24 October 2017 advising that Mr Wim de Klerk was stepping
down as as Chief Executive Officer (“CEO”) and Executive
Director from the Board of Directors of ArcelorMittal South
Africa (“Board”) with effect from 31 January 2018.
The Board is pleased to announce that following an appropriate
recruitment process, the appointment of Mr Hendrik Jacobus
“Kobus” Verster as CEO and Executive Director of ArcelorMittal
South Africa, has been approved by the Board. Mr Verster will
join ArcelorMittal South Africa on 2 January 2018 as CEO
designate to ensure a smooth handover and will officially
assume the position of CEO and Executive Director with effect
from 1 February 2018.
Mr Verster served on the Board of Aveng Limited as CEO from
11 February 2014 until 26 September 2017.
He holds a BCom degree from the University of Potchefstroom, a
BCom Honours (Economics) degree from the University of
Pretoria, a MBL from the University of South Africa (Unisa)
and attended the Executive Management Programme at the
University of Virginia in the USA.
Mr Verster served on the Board of ArcelorMittal South Africa
as Chief Financial Officer (“CFO”)and Executive Director from
17 February 2006 until 23 August 2010 and played a broader
strategic role within the Company during that period. Prior to
his appointment as CFO, he held various senior roles in
Financial Management including as General Manager, Corporate
Finance & Treasury from 1990.
Mr Mpho Makwana, Chairman of ArcelorMittal South Africa said:
“In our search for a CEO, we placed a high premium on a
candidate with knowledge of and experience in the steel
industry. In Kobus we believe we have found such a candidate,
who will also provide much needed continuity with our
strategic turnaround programme.”
Mr Lakshmi N Mittal, Arcelormittal Group’s Chairman and Chief
Executive Officer commented, “We look forward to having Kobus
on board. As someone we have worked with previously, we
believe he will sustain the momentum of leading our important
strategic investment in Africa, restoring the Company back to
profitability and sustainable performance.”
The Board is confident that he is well qualified and has the
requisite experience and understanding of the steel industry
to fulfill the role of CEO effectively.
The Board congratulates Mr Verster on his appointment and
looks forward to his contribution.
11 December 2017
Vanderbijlpark Works
For further information please contact:
Mr Hennie Vermeulen
Group Manager: Corporate Communications
Tel: (016) 889 2352
Sponsor to ArcelorMittal South Africa Limited
Absa Bank Limited (acting through its Corporate and Investment
Banking division)
Date: 11/12/2017 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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