HAMILTON, ON, March 7 /PRNewswire-FirstCall/ -- 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.
