Luxembourg minister in ArcelorMittal board

ArcelorMittal on Wednesday announced the appointment of Luxembourg's minister of economy and foreign trade Jeannot Kreck as a member of its board of directors in place of Georges Schmit, who will step down by the month-end.

The company, however, maintained that the appointment is 'interim' and shareholders approval would be sought next year to make it a full-time engagement.

Kreck would be shareholders' representative on the steel maker's board effective from January 1, 2010.

"In replacement of Schmit, the board has co-opted Jeannot Kreck as an interim board member starting 1 January 2010," the world's largest steel maker said.

The Luxembourg-headquartered firm said it would seek shareholders approval for Kreckes full appointment to the post at its Annual General Meeting to be held on May 11, 2010.

"On behalf of all the board of directors, I would like thank him (Georges Schmit) for his dedication and hard work, particularly during the challenges of the past year.

"(Also) we are very pleased to welcome Minister Jeannot Kreck. He will be a valuable addition due to his extensive knowledge of the steel industry and of ArcelorMittal," company chairman and CEO L N Mittal said.