Annual Review 2016Sustainable progress
2016 was a year of important progress for ArcelorMittal.
Action 2020 is ArcelorMittal's commitment to structurally improving profitability and cash flow generation.
Good corporate governance is about compliance, continuous stakeholder dialogue and being a good corporate citizen.
Details of our steel and mining operations, financials, production facilities and shareholder information.
Read our full corporate governance report.
ArcelorMittal is a public limited liability company (société anonyme) incorporated in Luxembourg. It is governed by a board of directors in accordance with the requirements set out in the company’s articles of association. The board of directors is in charge of the overall governance and direction of ArcelorMittal. It delegates daily management of the company and implementation of strategy to a group of executive officers, headed by the only executive board director, Lakshmi Mittal, our Chairman and CEO.
Our board of directors comprises a large majority of independent directors, with seven independents out of a total of 11 members. To ensure proper checks and balances are in place, a lead independent director – who presides over the independent directors – sets the agenda for board meetings with the Chairman and leads the independent directors in regular executive sessions. Our lead independent director is Lewis B Kaden.
Our Appointments, Remuneration and Corporate governance committee comprises three directors, all of whom are independent. Our Audit & Risk committee has five directors, all of whom are independent.
ArcelorMittal is a holding company with no business operations of its own. All of ArcelorMittal’s significant operating subsidiaries are indirectly owned by ArcelorMittal through intermediate holding companies.