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ArcelorMittal Announces Change in Internal Assurance Leadership
06/12/2007 - ArcelorMittal announced that Arvind Chopra, Vice President of Internal Assurance, is leaving the company to join Price Waterhouse Coopers as a partner in London.
ArcelorMittal announced that Arvind Chopra, Vice President of Internal Assurance, is leaving the company to join Price Waterhouse Coopers as a partner in London.
Chopra, who held the position for over seven years, will be replaced by Francis Lefèvre. Lefèvre’s appointment to the position, which the company considers to be of prime importance from a Corporate Governance, Compliance and internal control perspective, has been approved by the Audit Committee of ArcelorMittal's Board of Directors. Like his predecessor, Lefèvre will also serve as Secretary to the Audit Committee.
Over the past seven years, Chopra has been responsible for building Corporate Governance processes, facilitating management's performance of risk assessments, evaluating the Company's internal controls and leading the company’s internal audit function. During this period Chopra has also contributed to the company's compliance program.
"I warmly thank Arvind for the excellent job he has accomplished at ArcelorMittal,” said Aditya Mittal, CFO. “Arvind has played a key role in establishing world class standards in our Corporate Governance processes, our internal control structures and in our compliance and internal auditing standards".
Lakshmi Mittal, CEO, said: “Through the years, Arvind has made very significant contributions at ArcelorMittal. During the extremely fast growth of the company he ensured that our Corporate Governance and internal control environment kept pace with our strong development. I thank him for his dedication and wish him all possible success in his new role with Price Waterhouse Coopers. I also take this opportunity to extend the fullest support of the management to Francis in his new role.”
Francis Lefèvre, who takes over responsibility of ArcelorMittal’s Internal Assurance, joined the steel industry in 1992 at the Liège (Belgium) works as an internal auditor, after working as an audit director at Deloitte-Coopers for ten years. He was appointed Financial Director of the Liège unit in 2000, and, within Arcelor and ArcelorMittal, has held the position of Senior Vice President Business Risk Control since 2005.
ArcelorMittal is the world's number one steel company, with 320,000 employees in more than 60 countries. The company holds leadership in a number of major global markets, including automotive, construction, household appliances and packaging, with leading R&D and technology, as well as sizeable captive supplies of raw materials and outstanding distribution networks. An industrial presence in 27 European, Asian, African and American countries exposes the company to all the key steel markets, from emerging to mature, positions it will be looking to develop in the high-growth Chinese and Indian markets. ArcelorMittal key pro-forma financials for 2006 show combined revenues of USD 88.6 billions, with a crude steel production of 118 million tonnes, representing around 10% of world steel output.
