Lakshmi Nivas Mittal

Always think outside the box and increase the opportunities that appear, wherever they might be

Why Lakshmi Nivas Mittal ?

Biography - Lakshmi Nivas Mittal

y Indian born British steel tycoon y Born on June 15th 1950 in Rajasthan y Family moved to Kolkata from Rajasthan y His father Mohanlal Mittal set up a small steel mill

in Kolkata. Kolkata.

y Finished his bachelors degree in business and

accounting Mittal began his early career in his fathers steel firm in the early 70s 70s
y In 1976 Mittal moved to Indonesia and acquired a

steel plant ISPAT INDO. INDO.

y His success has largely been built on buying up

loss making steel owned mills and quickly turning them around. around.

 His wife Usha runs the Indonesian business and his son Aditya and daughter Vanisha are members of the board of directors of Mittal steel. steel.

MITTAL STEEL

History of Mittal Steel

y Mittal Group got into steel industry in 1976 when M L Mittal left country because of India s restrictive economic policies. policies. He went to Indonesia to set up ISPAT INDO. INDO. y Group started spreading its activities across the globe in 1989 when it acquired an ailing plant in Trinidad and Tobago which was revived

y 1994 group underwent partition of business interest in

the family. All the foreign business were hived of into a family. separate group ISPAT International under the control of L N Mittal while Indian operations remained with his younger brothers P K Mittal and V K Mittal

Acquisitions

Current Status

y World s largest and most global steel company with shipment of

49. 49.2 million tones and revenue of over $28.1 billion in 2005 and 28. net income of $3.4 billion
y No. 1 high quality steel producer with crude steel capacity with No.

more than 70 million tons per annum

y Own steel making facilities in 16 countries spanning 4

continents
y Employs 224000 people spanning 49 different nationalities

Qualities and Distinctiveness

y Polite and Hard working y Ambitious y Outstanding vision y Convincing, Motivating and guiding y Capacity to lead y Brave y Diplomacy and persistence y Risk appetite y A good listener

y Also says that Don't shout about your success, just do

it y His two favourite words are focus and family y Boldness changes everything with courage, conviction, passion, brilliance and originality

LEADERSHIP STYLE
A transactional leader: Mittal is a transactional leader who guides and motivates his followers in the direction of established goals by clarifying role and task requirements.

The Leader in MittalMittaly A great individual y A corporate leader in business y Started the trend of mergers around the world y A caring family man y A complete human being

 This is not about creating a giant .its about creating the sustainability of the steel industry.. -Lakshmi Niwas Mittal