Wim de Klerk, Arcelor Mittal CEO, to retire in the new year

Wim de Klerk, the current CEO of Arcelor Mittal South Africa and a former Exxaro executive, has said he intends to retire in January 2018. He would have been in the role less than 18 months by this time.

Arcelor Mittal accepted the resignation, saying in a statement:

"Challenges remain and we will commence with a search to appoint a new CEO who can continue to implement our strategy and structurally improve the performance of the business."

De Klerk will continue to work on implementing various initiatives within the company, and assist in ensuring a smooth transition until he leaves.