In replacement of Mr. Schmit, the Board has co-opted Jeannot Krecké as an interim board member starting 1 January 2010. Mr Krecke's full appointment to the Board will be proposed to shareholders at the Company's Annual General Meeting scheduled 11 May 2010.
Like Mr Schmit, Mr. Krecké, who is Luxembourg's Minister of the Economy and Foreign Trade, will serve on ArcelorMittal's Board as a shareholder representative.
Lakshmi N. Mittal, Chairman and CEO of ArcelorMittal, commented: "Georges Schmit has been a great contributor to the Board. On behalf of all the Board of Directors, I would like thank him for his dedication and hard work, particularly during the challenges of the past year." He added: "We are very pleased to welcome Minister Jeannot Krecké. He will be a valuable addition due to his extensive knowledge of the steel industry and of ArcelorMittal".
Georges Schmit said: "It has been a privilege to sit on the Board of Luxembourg's largest company. I will continue to watch ArcelorMittal's progress with great interest and pride and wish the company all the best for the future."
Jeannot Krecké commented: "ArcelorMittal is a very important company to Luxembourg. The steel industry has always played a central role in our country's economy and we are all very proud that the world's largest steel company is based here. Being a Board Member is an important responsibility and one which I will undertake with great commitment and interest."
*On an interim mandate commencing 1 January 2010. Mr. Krecké's full appointment to the Board will be proposed to shareholders at the Company's Annual General meeting scheduled 11 May 2010.