World's largest steel maker Arcelor-Mittal on Monday said its Chairman Joseph Kinsch will step down at the Annual General Meeting in May next year, but did not immediately name a successor.
"As chairman Kinsch has overseen the company during the very important post merger phase. It was always anticipated that he would step down at the next AGM as he will soon be turning 75," Arcelor-Mittal Vice President Nicola Davidson said in a statement released here.
Kisnch, who has spent 50 years with the company, would continue his association with the group as chairman of the Arcelor-Mittal Foundation.
Davidson said the new chairman of the Board of Directors would be announced in due course.