Arcelor's CEO ousted: NYT report
27 June 2006
The New York Times has reported the ouster of Guy Dollé, the Arcelor chief executive, who led the campaign to fend-off Mittal Steel's hostile take over bid. "The takeover of Arcelor by Mittal Steel claimed its first victim on Monday in the person of the chief executive of Arcelor, Guy, who used some of the toughest — and some observers said insulting — language during the five bruising months of negotiations for the deal", said the paper in its report headlined, 'Arcelor's Chief Is Ousted From Mittal Partnership'.
Joseph Kinsch, chairman, Arcelor, has been quoted by the paper as saying that Dollé would stay on until Arcelor selected a chief executive for the new Arcelor-Mittal.
Perhaps, the Arcelor CEO, who had derided Mittal Steel as "a company of Indians" among other hostile remarks, had an inkling of his fate — he left the press conference held to announce the finalisation of the Arcelor-Mittal deal without taking questions from the media.