HAMILTON, ON, March 7 /CNW/ - Dofasco announced today that Jacques
Chabanier, President and Chief Executive Officer of Dofasco Inc., has
announced his intention to resign, effective on the appointment of a successor
by Dofasco's Board of Directors, which is expected to be finalized within the
next few weeks. Mr. Chabanier will also step down as Chief Executive Officer
of Quebec Cartier Mines, a wholly owned subsidiary of Dofasco.
Mr. Chabanier commented, "I believe this is the appropriate time to hand
the reins of the company to an individual able to make a long-term commitment
to Dofasco's success as a business unit of Arcelor Mittal's North American
flat carbon steel division. My successor should have the opportunity to manage
the transition and integration process." He added, "I view Dofasco's future
within Arcelor Mittal very optimistically as Dofasco enters the integration
process with an ambitious plan to enhance the company's competitiveness, and
lever its ability to provide superior quality and service to its customers."
Mr. Chabanier was appointed CEO in July, 2006.
Commenting on Mr. Chabanier's contribution to Dofasco, Lou Schorsch, EVP
of Arcelor Mittal and C.E.O. Flat Americas, said, "Jacques has provided
outstanding leadership to Dofasco throughout its initial integration with
Arcelor, and its subsequent period as a stand-alone company under the
Department of Justice's Hold Separate Order, which was lifted in February. He
passes on a strong company to his successor".
Aditya Mittal, Chief Financial Officer and GMB member, said, "Mr.
Chabanier has had a distinguished career with Arcelor Mittal and its
predecessor companies. It was with great regret that the Management Board
learned of his decision to return to Europe. We are nevertheless gratified
that he will continue to lead Dofasco throughout the transition. On behalf of
the Management Board I thank him for his service, particularly his excellent
work at Dofasco."
Dofasco is a leading North American steel solutions provider. Product
lines include hot rolled, cold rolled, galvanized, Extragal(TM), Galvalume(TM)
and tinplate flat rolled steels, as well as tubular products and laser-welded
blanks. Dofasco's wide range of steel products is sold to customers in the
automotive, construction, energy, manufacturing, pipe and tube, appliance,
packaging and steel distribution industries.
For further information:
For further information: Gordon Forstner, (905) 548-7200, ext. 2200