Willem de Klerk.   Picture: SUPPLIED
Willem de Klerk. Picture: SUPPLIED

STEELMAKER ArcelorMittal has appointed Wim de Klerk as its CEO and as an executive director to the board with effect from September 1 2016.

Mr De Klerk holds a BAcc degree (honours) from the University of Pretoria, an executive management diploma from Darden as well as a strategic marketing diploma from Harvard. He is a qualified chartered accountant (SA). He is currently the finance director at Exxaro Resources.

ArcelorMittal said Mr De Klerk had "the necessary experience and understanding" to do the job. "The board congratulates Wim on his appointment and looks forward to his contribution."

In a statement last week, Exxaro said after much "consideration and deliberation" Mr De Klerk had decided to step down as finance director of the company.

"The company’s board of directors has, over a period of time, been considering his application to step down in order for him to make a lifestyle change and has approved such with effect from August 31 2016, or an earlier date if so agreed with the board," the diversified resources group said.

At 12.46pm, ArcelorMittal’s share price was down 7.16% to R9.47, valuing the company at about R11.6bn.