METALS MOVER: ArcelorMittal Ukraine Names Rinat Starkov As CEO

ArcelorMittal (MT) has appointed Rinat Starkov as chief executive of its Ukrainian steel plant, ArcelorMittal Kryviy Rih, the company said Tuesday.

Starkov replaces Jean Jouet, the previous CEO, who has left the company.

Starkov served as Member of the Management Board at Mondi Business Papers responsible for the Commonwealth of Independent States, fiber procurement and logistics; and managing director at Mondi Syktyvkar.

Starkov has a strong background in managing transformations and implementing modernization programs at large industrial companies, ArcelorMittal said.

"My priorities are to restore the company's profitability and to continue the process of transforming it into a sustainable and competitive business," Starkov said.

"In particular, I plan to focus on increasing production volume and quality, ensuring a sustainable supply of raw materials and implementing the modernization that is required to take the company forward," he added.

Arnaud Poupart-Lafarge, Executive Vice President at ArcelorMittal thanked Jouet for his contribution to the company, including managing cash issues caused the delay in VAT refund and developing an ongoing dialogue with trade unions.

"We wish Jean well for the future and we are very pleased with the strong management team he leaves in place to support Mr. Starkov."

ArcelorMittal declined to comment on what Jouet planned to do next.

Company Web site: www.arcelormittal.com.ua

-By Alex MacDonald, Dow Jones Newswires; [phone]; [e-mail]