Steel slump will test mettle as new CEO enters Amsa furnace
All eyes are on local steelmaker's sixth boss in 14 years
Hendrick Kobus Verster has taken over as CEO of ArcelorMittal South Africa, and the steelmaker will be hoping that in him it has finally found the right pair of hands to turn around its fortunes after consecutive years of losses. Africa's largest steelmaker has changed executives many times in the past few years, and gains have been elusive for its shareholders. The last profit was R8-million, in 2011. Will Verster go the distance? His predecessors did not, with the exception of Nkululeko Nyembezi-Heita, who was Amsa's longest-serving CEO, lasting from March 2008 until February 2014. Outgoing CEO Wim de Klerk became CEO in 2016. Paul O'Flaherty was CEO from July 2014 until February 2016. He took over from Nyembeze-Heita. Enrico Rick Reato lasted from September 2006 until February 2008, and Davinder Chugh was at the helm from September 2004 until September 2006.Although Verster is not a stranger to Amsa - he was previously chief financial officer and an executive director from Februa...
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