After the merger of Arcelor with Mittal, Mittal Steel Chairman Lakshmi Niwas Mittal would be the Chairman of the new entity after a year when the present incumbent ends his term.
"Mr Mittal would be the President of Arcelor Mittal and would become its Chairman when Joseph Kinsch ended his term next year," Mittal's son and Mittal Steel CFO Aditya Mittal said on Friday.
In reply to a query L N Mittal said the company had to face a lot of hostility when it put up a bid to acquire Arcelor in January last. He said he was happy that he could convince the stakeholders that the merger was in the interest of the global steel industry.
There would be six members each from Mittal Steel and Arcelor on the Board of the new entity.
Mittal said he favoured the new entity partnering with SAIL which he said was desirable for Indian steel industry.