LAKSHMI MITTAL

STEEL TYCOON OF INDIA

EARLY LIFE
He was born in Sadulpur village, in the Churu district of Rajasthan, India in 1950. Mittal was born in Agarwal family and spent his initial years in India, living with his extended family on bare floors and rope beds in a house built by his grandfather. The family eventually moved to Calcutta where his father, Mohan, became a partner in a steel company. Mittal graduated from St. Xavier's College in Calcutta with a Bachelor of Commerce degree in Business and Accounting in 1969.
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FIRST VENTURE
Mr. Mittal began his career working in the family's steelmaking business in India, and in 1976, when the family founded its own steel business. Has over 30 years of experience working in steel and related industries.
He set out to establish its international division, beginning with the buying of a run-down plant in Indonesia. In 1994, due to differences with his father, mother and brothers, he branched out on his own, taking over the international operations of the Mittal steel business. Formerly known as the LNM group.
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ACHIEVEMENTS
Mittal pioneered the development of integrated mini-mills. Developed the use of Direct Reduced Iron or DRI as a scrap substitute for steelmaking and led the consolidation process of the global steel industry. Mittal Steel is the largest steelmaker in the world, with shipments of 42.1 million tons of steel and profits of over $22 billion in 2004. The worlds 3rd richest man according to Forbes Business Magazine.

EXECUTIVE PROFILE
1997-Present
Chairman of the Board, Chief Executive Officer, President, Managing Director of Operations and Member of Group Management Board ArcelorMittal

2002-2010
Former Director ICICI Bank Ltd.

2002-2006
Former Non-executive Director ArcelorMittal South Africa

2007-Present
Independent Director European Aeronautic Defence and Space Company EADS N.V.

2008-Present
Independent Director, Member of Audit Committee, Member of Corporate 5 Governance & Nominating Committee, Member of Compensation Committee and Member of Risk Committee The Goldman Sachs Group, Inc.

ANNUAL COMPENSATION
Salary $1,651,000

Bonus
Total Annual Compensation

$692,000
$2,343,000

AWARDS
In 2008 Mittal awarded Abhinav Bindra with Rs. 1.5 Crore, for getting India its first individual Olympic gold medal in shooting. 2008: Padma Vibhushan 2007: Bessemer Gold Medal 2006: Person of the Year - Financial Times 2004: European Businessman of the Year - Fortune magazine 1998: Willy Korf Steel Vision Award - American Metal Market and PaineWebers World Steel Dynamics
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1996: Steelmaker of the Year - New Steel

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