Boston, MA 06/02/2014 (wallstreetpr) – ArcelorMittal SA (ADR)(NYSE:MT), the largest metal producer and provider of the world had recently announced the appointment of its new CEO. According to the reports made public by the company, Paul O’Flaherty would be the new executive director and Chief Executive Officer of the company.
He will join MT as soon as Nonkululeko Nyembezi-Heita resigns. The probable date of his appointment is July 1st, 2014. Paul previously worked with Eskom as the Chief Financial Officer of the company. Company will also announce its first factor report on the same day when Paul will join the company i.e. July 1st 2014.
Recently MT conducted a study with the help of one external consultancy. The motive of the study was to analyze the impact that ArcelorMittal SA (ADR)(NYSE:MT) had on the social, economic and financial behavior of country. ArcelorMittal SA is a leading steel manufacturing company of the world as well as of South Africa, and with the appointment of new CEO, it expects to achieve new heights in coming months.
Due to global financial turmoil, ArcelorMittal SA (ADR)(NYSE:MT) hasn’t had a comfortable time in past few months, on top it, there were several managerial issues that it had to deal with. As the new CEO is all set to join the company on the first day of next month, so management expects him to fill the organization with a new energy which has been lagging for past few month. The other factors that management of the company feels that Paul O’Flaherty will improve over a period of time include profitability, revenues, higher sales figures, improved corporate governance and investments.
ArcelorMittal SA (ADR)(NYSE:MT) witnessed a lot of things which were never forecasted, but the global financial crisis took the company on a roller costar ride and caused a lot of damage. The strong record of Paul gives a positive feeling to management about positive future prospects. If he can turn things around or not, will be clear in coming months time.
