Lakshmi N. Mittal is the President and CEO of Arcelor Mittal. Arcelor Mittal is the combination of the world’s number one and number two steel companies, Arcelor and Mittal Steel. Mr. Mittal founded Mittal Steel Company (formerly the LNM Group) in 1976.
He was born in Sadulpur in Rajasthan, India on June 15, 1950, and graduated from St. Xavier’s College in Calcutta where he received a Bachelor of Commerce degree. He is married to Usha Mittal, and has a son, Aditya Mittal and a daughter, Vanisha Mittal.
He is the richest man in the UK and the fifth richest person in the world, with a personal fortune of US$51.0 billion according to Forbes magazine.
The Financial Times named Mittal its 2006 Person of the Year. In May 2007, he was named one of the "100 most influential people" by Time magazine.
Mr. Mittal’s ability to guide the company in its identification, acquisition and turnaround of steel assets has led to its emergence as one of the world’s fastest growing steel producers. Mr. Mittal began his career working in the family’s steelmaking business in India, and has over 30 years of experience working in steel and related industries. Over the years, Mr. Mittal has also championed the development of integrated mini-mills and the use of Direct Reduced Iron or “DRI” as a scrap substitute for steelmaking and led the consolidation process of the global steel industry. Other related activities of Mittal Steel include shipping, power generation and distribution, and mining.
Following the transaction combining Ispat International and LNM Holdings to form Mittal Steel in December 2004, together with the simultaneous announcement of the acquisition of International Steel Group in the US to form the world’s largest steel producer, Mr. Mittal was awarded Fortune magazine’s “European Businessman of the Year 2004”. Previously, he was awarded “Steelmaker of the Year” in 1996 by New Steel in the USA and the “Willy Korf Steel Vision Award” in June 1998, for outstanding vision, entrepreneurship, leadership and success in global steel development from American Metal Market and PaineWeber’s World Steel Dynamics. Following the creation of Arcelor Mittal, the world’s number one steel company, Mr. Mittal was awarded “Business Person of 2006” by the Sunday Times’, “International Newsmaker of the Year 2006” by Time Magazine and “Person of the Year 2006” by the Financial Times for his outstanding business achievements. In January 2007, Mr. Mittal was presented with a Fellowship from King’s College London; their highest award.
Mr. Mittal is an active philanthropist and a member of various trusts. Mittal Steel is a significant contributor to local community and welfare activities for employees in countries where the Group operates. Mr. Mittal is a member of the Foreign Investment Council in Kazakhstan, the International Investment Council in South Africa, the World Economic Forum’s International Business Council and the International Iron and Steel Institute’s Executive Committee. He is a Director of ICICI Bank Limited and sits on the Advisory Board of the Kellogg School of Management in the U.S and on the International Advisory Board of Citigroup.
We hope that a Xaverian keeps the Xavier’s flag flying in foreign shores as well as Indian shores.
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