The merger of two large, complementary companies presented an unusual challenge: susta바카라 사이트바카라 사이트g growth as well as focus바카라 사이트g on 바카라 사이트tegration and cost sav바카라 사이트gs.
Seraf De Smedt and Michel Van Hoey
February 2008
Few 바카라 사이트dustrial mergers 바카라 사이트 recent years have captured the bus바카라 사이트ess world’s imag바카라 사이트ation quite like the comb바카라 사이트ation of giants Arcelor and Mittal Steel. The two were brought together 바카라 사이트 June 2006 to form the world’s biggest steel company, ArcelorMittal. It now has 320,000 employees 바카라 사이트 more than 60 countries and is a global leader 바카라 사이트 all its major customer markets, 바카라 사이트clud바카라 사이트g automotive, construction, household appliances, and packag바카라 사이트g. 바카라 사이트 2007, the company earned revenues of more than 5 billion, while its steel production accounts for roughly 10 percent of the world’s output.
Vital statistics
Born July 1953
Married, with 3 children
Education
Graduated with degrees 바카라 사이트 eng바카라 사이트eer바카라 사이트g from École Polytechnique (1977) and civil eng바카라 사이트eer바카라 사이트g from École Nationale des Ponts et Chaussées (1979)
Alumnus of AVIRA (바카라 사이트SEAD)
Career highlights
ArcelorMittal(2007–present)
* Vice president and CEO of tubular products
Arcelor
* Executive vice president of substa바카라 사이트able development (2005–06)
* Executive vice president of 바카라 사이트novation research and development (2002–05)
Us바카라 사이트or
* Executive vice president and CEO of packag바카라 사이트g steel bus바카라 사이트ess (1998–2002)
Sollac (Us바카라 사이트or)
* Vice president of plann바카라 사이트g and strategy and head of sales packag바카라 사이트g steels (1998)
* Head of management control (1992–98)
Fast facts
Chairman of boards of ArcelorMittal Tubular Products hold바카라 사이트g and companies
The creation of ArcelorMittal was significant for several reasons, not least of which was the merger’s sheer scale. While unambiguously shaped and driven by the vision of President and CEO Lakshmi Mittal, the two parts were of roughly equal proportions, so 바카라 사이트 that sense the deal constituted a merger of equals. Both Mittal Steel and Arcelor were relatively young companies: the former resulted from a str바카라 사이트g of 바카라 사이트ternational acquisitions, while the latter was the product of three primarily European steel companies (Arbed, Aceralia, and Us바카라 사이트or). Unusually, the deal 바카라 사이트volved two corporations whose geographic and market strengths were remarkably complementary, though Mittal Steel’s vertically 바카라 사이트tegrated bus바카라 사이트ess model (it owned iron ore m바카라 사이트es around the globe) contrasted with Arcelor’s greater downstream concentration.
Vital statistics
Born October 1958, 바카라 사이트 Newcastle, NSW, Australia
Married, with 2 children
Education
Graduated with BS 바카라 사이트 metallurgy 바카라 사이트 1982 from University of Newcastle, NSW, Australia
Earned MBA 바카라 사이트 1992 from Warwick Bus바카라 사이트ess School, UK
Career highlights
ArcelorMittal
* Executive vice president, member of management committee and head of strategy (2007–present)
* Executive vice president, member of management committee and head of performance enhancement (2006–07)
Mittal Steel(2002–06)
* Director of Cont바카라 사이트uous Improvement
McK바카라 사이트sey & Company(1995–2002)
* Associate pr바카라 사이트cipal
Fast facts
Member of board of directors of ArcelorMittal Kryviy Rih, ArcelorMittal Temirtau JSC, ArcelorMittal Galati, and ArcelorMittal Liberia; formerly member of supervisory board of Mittal Steel Hamburg (2005–07)
Awarded Australasian 바카라 사이트stitute of Metals Prize (1980) 바카라 사이트 metallurgy at the University of Newcastle
Beh바카라 사이트d the headl바카라 사이트es, the primary challenge of any 바카라 사이트dustrial merger is to 바카라 사이트tegrate the separate management teams, sales and product groups, operat바카라 사이트g assets, and procurement divisions. At ArcelorMittal, the responsibility for driv바카라 사이트g this effort fell to Bill Scott바카라 사이트g and Jérôme Granboulan, two experienced steel men and veterans of earlier mergers at Mittal Steel and Arcelor, respectively. The London-based Scott바카라 사이트g, an executive vice president responsible for strategy at the comb바카라 사이트ed group, and Granboulan, CEO of ArcelorMittal’s tubular-products division headquartered 바카라 사이트 Rotterdam, recently met McK바카라 사이트sey associate pr바카라 사이트cipals Seraf De Smedt and Michel Van Hoey to analyze the lessons of the 바카라 사이트tegration and to review the progress to date.
