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MUMBAI: ArcelorMittal Nippon Steel India (AM/NS) will appoint its current CFO Amit Harlalka as CEO effective July 1, marking a leadership transition at the steelmaker. Incumbent CEO and director Dilip Oommen, 68, will step down from his executive role on June 30 and continue as a board member, AM/NS said.
Oommen, the first CEO of the joint venture formed by ArcelorMittal chairman Lakshmi Mittal and Japan’s Nippon Steel, has led the company since it acquired Essar Steel through bankruptcy proceedings in December 2019. He had earlier headed the Essar Group’s steel business for 17 years. He will also serve as vice chairman of ArcelorMittal India (AMI), a step-down subsidiary of ArcelorMittal, headquartered in Luxembourg, while remaining on the AM/NS board.
His continued association and new role reflect his standing as a trusted lieutenant of Lakshmi Mittal in India. Incorporated in April 2006, AMI is engaged in iron ore mining.Reflecting on his tenure, Oommen said, “I could not have imagined that we would achieve so much in just over six years, and I will continue to follow developments with great interest while remaining closely connected with both AM/NS and ArcelorMittal.”
Harlalka, 48, has spent several years with ArcelorMittal, with stints across its Mexico, Zenica and Luxembourg operations. He moved to AM/NS in December 2019 following the acquisition of Essar Steel’s businesses in India, Indonesia, the Middle East and the Americas and was appointed CFO in January 2023.A chartered accountant from the Institute of Chartered Accountants of India and an MBA in finance from the Indian Institute of Management, Bangalore, Harlalka began his career at Hindustan Unilever.Aditya Mittal, Lakshmi Mittal’s son and chairman of AM/NS, said Harlalka is well prepared to take on the role. “Amit has proved himself ready to step into the CEO role, with strong operational knowledge and deep involvement in the company’s growth plans, including renewables. He also places a high emphasis on safety, which is critical amid ongoing expansion.”Aditya also praised Oommen as a “great first CEO”, saying he brought stability during a period of transition and played a crucial role in building trust and establishing the AM/NS brand in India. AM/NS currently operates a nine-million-tonne steel plant in Hazira (Gujarat), with plans to expand to 23.2 million tonnes. This will include an expansion of Hazira by another six million tonnes and setting up a new 8.2-million-tonne plant in Anakapalli (Andhra Pradesh).
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