ArcelorMittal’s Scotting Replaces Kukielski as CEO of Mines Unit
ArcelorMittal (MT) said Bill Scotting will replace Peter Kukielski as chief executive officer of the steelmaker’s mining business, which has grown to become the world’s fifth-biggest producer of iron ore.
Scotting, currently head of strategy at the Luxembourg-based company, will take the role on Aug. 3, ArcelorMittal said in a statement today. Kukielski is leaving the world’s largest steelmaker for a new opportunity, it said.
Kukielski has headed the division since 2008, leading ArcelorMittal’s drive to buy and build iron-ore and coal mines and be more self-sufficient in raw materials. The company produced 55.9 million metric tons of iron ore last year, ranking behind Vale SA, Rio Tinto Group, BHP Billiton Ltd. and Fortescue Metals Group Ltd., according to data compiled by Bloomberg.
Lakshmi Mittal, ArcelorMittal’s CEO and 41 percent shareholder, has added mining assets from Brazil to Russia since Mittal Steel Co. bought Arcelor SA in 2006 in the steel industry’s biggest takeover. He has sought to lessen dependence on the biggest mining companies by adding raw material supplies and is seeking to produce 84 million tons of iron ore in 2015.
Mining contributed earnings before interest, taxes, depreciation and amortization of $1.7 billion last year for ArcelorMittal on sales of $6.3 billion. As well as iron ore, the company also mined 8.2 million tons of coking coal used in steelmaking.
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