Aditya Mittal to take over from his father as ArcelorMittal CEO

NEW DELHI: Aditya Mittal will take over as Chief

Executive Officer of

ArcelorMittal, the world's leading steel and mining company his father Lakshmi

N Mittal founded in 1976.

Aditya is currently the

President, CFO and CEO of

ArcelorMittal Europe.

Lakshmi Mittal, who is currently Chairman and CEO, will become Executive Chairman. In this position, he will continue to lead the board of directors and work together with the CEO and management team.

"Despite the obvious challenges of 2020, ArcelorMittal starts 2021 in a position of comparative strength," said Lakshmi Mittal.

"Having achieved some key strategic targets, this seems like the right moment to transition to Executive Chairman and the board unanimously agree that Aditya Mittal is the natural and right choice to be the company's Chief Executive," he said in a statement on Thursday.

Lakshmi Mittal said Aditya has an unrivalled knowledge of the business and a keen sense of how the company must continue to transform to remain the world's leading steel company.