[miningmx.com] – SHARES in ArcelorMittal South Africa (AMSA) fell 1.58% on December 9 after the firm’s CEO, Nonkululeko Nyembezi-Heita announced her resignation from the company, effective February 18, 2014.
Mpho Makwana, chairman of AMSA, said the search for a replacement for Nyembezi-Heita had begun immediately. Shares in the company closed at R41/share.
Nyembezi-Heita said the company expected to post “a marked improvement” in its financial performance owing to its recent iron ore purchase agreement with Anglo American’s Kumba Iron Ore, and as the steel market turned.
“Although challenging, over the last six years as a management team, we have achieved significant advances in a number of areas,” she said alluding to environmental and safety improvements, and advances in operational output “in places”.
