Mr. Reding has over 30 years’ experience in the steel industry. His new role is guided by a number of priorities, the foremost of which is to take account of the expectations of ArcelorMittal's various stakeholders in Luxembourg. For that, a consultation of internal and external stakeholders has already been initiated and will be renewed for three years. It will lead to the establishment of a dedicated governance open to the company’s ecosystem in the Grand-Duchy. The attention paid to stakeholders is justified by ArcelorMittal's commitment to develop its activities in harmony with each of them. Our employees and our customers are the keystone of our organization and of our commitments to decarbonize our industrial sites in Luxembourg. Municipalities and residents will be asked to continue efforts to “live well together”. Local and community institutions are our privileged interlocutors to meet the major challenges of the industry.

Decarbonization is a major issue for the global and European steel industry. For Mr. Reding, there is no doubt that ArcelorMittal is well positioned to meet this challenge. In Luxembourg in particular, investments have recently been confirmed to strengthen this approach, notably with the installation of a new electric arc furnace at Belval, a project supported by the Luxembourg government as part of the memorandum of understanding signed last September with the Ministry of the Economy. This new equipment will enable steel production capacity in Luxembourg to be increased by 15% in annual tonnage. As a result, ArcelorMittal Luxembourg's plants will be self-sufficient in crude steel production capacity to cover their needs for finished rolled products in the Grand Duchy.

Mr. Reding commented: "First, I would like to thank Roland Bastian for his action in Luxembourg to develop our business and promote our leading-edge products around the world. In the Grand-Duchy, we have several flagship products that are world market leaders. Thanks to a number of niche products and a full range of standard beams, which are highly competitive in terms of cost and quality, our factories hold excellent cards for the future. Moreover, major investments will ensure that our Luxembourg plants are completely self-sufficient, and that production has a low environmental impact. Mr Bastian also provided the initial impetus for ArcelorMittal's engagement with its stakeholders, a movement that now needs to be built on. We are particularly keen to pursue our development by focusing on a responsible steel production and, in particular, a continuous reduction in CO2 emissions. In my new role, I will also continue to pay close attention to improving our health and safety culture.