Aperam Appoints New CEO To Replace Fontana Dec 1, 2011

Stainless steel producer Aperam SA (APEMY) Tuesday said it appointed French executive Philippe Darmayan as Chief Executive effective Dec. 1 to replace Bernard Fontana, who is leaving to become the new CEO of Swiss cement group Holcim Ltd. (HOLN.VX).

MAIN FACTS:

- Philippe Darmayan, 59, a French citizen with an extensive experience in various industrial fields, will become a member of Aperam's Management Committee and CEO of Aperam effective 1 December 2011 .

- Lakshmi Mittal, Chairman of Aperam's Board, said: "Together with my fellow members of the Board of Directors of Aperam I would like to extend our gratitude and appreciation for Bernard's achievements at the helm of Aperam and also during his career at ArcelorMittal Group. Aided by an experienced management team, Bernard has developed Aperam, ArcelorMittal's former stainless steel division, into a robust standalone business. We wish Bernard all the best with his new career and welcome Philippe aboard".

- Philippe Darmayan, a graduate of French business school HEC, has been the CEO of ArcelorMittal's Distribution Solutions division since January 2005.

- Aperam was the stainless steel unit of ArcelorMittal (MT) until it was spinned off earlier this year.

- By Paris Bureau, Dow Jones Newswires; [phone]; [e-mail]