Cast of Characters
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| Usha and Lakshmi Mittal |
Lakshmi Mittal, 55, son of a steel producer in Calcutta, graduate of St. Xavier College in Calcutta, with degree in accounting. Began his acquisition trail by buying an Indonesia steel mill in 1976. Moved to London in 1995. CEO and chairman of board, Mittal Steel Co., formed in December 2004 from the three-way merger of International Steel Group, Ispat, and LNM Holdings. With wife Usha owns 88 percent of company stock and 98.3 percent of voting rights. Named world’s fifth wealthiest person by Forbes in 2006, with estimated $23.5 billion in assets. Owner of the most expensive private residence in London.
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| Aditya and Lakshmi Mittal |
Aditya Mittal, 30, only son of Usha and Lakshmi Mittal. Attended American High School in Indonesia, graduated from the University of Pennsylvania with a BS in economics. After a short internship at a bank, joined his father’s business. Appointed chief of mergers and acquisitions in 1999. Helped ease out Johannes Sittard, his father’s former right-hand associate, in 2001. Named president and CFO in December 2004. Travels with his father, who calls him “the future.” Speaks frequently to the media and to analysts. Lives in London with his wife Megha.
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| Guy Dollé |
Guy Dollé, 64, son of a stained-glass artisan, graduate of École Polytechnique in Paris, with engineering degree. Spent early career at Irsid Steel Research Center, then moved up the ranks of France’s Usinor from chief of the plates and tubes division to executive vice president for strategy. Helped create the three-way merger between Usinor, Spain’s Aceralia Siderurgica, and Luxembourg’s Arbed that formed Arcelor and was named chairman and CEO in 2002. Proponent of global expansion and consolidation. Acquired steel plants in Brazil and established partnerships with steelmakers in Russia, Japan, and China. Lives in an apartment in Luxembourg.
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| Lew Kaden |
Lewis Kaden, 63, graduated magna cum laude
from both Harvard College and Harvard Law School. Professor of law at
Columbia University between 1976 and 1984. Joined Davis Polk & Wardwell and regularly advised
the senior management and directors of major companies on corporate governance
and mergers and acquisitions. Became vice chairman and chief administrative
officer of Citigroup in September 2005. Former chairman of the Harvard
Law School Fund and current head of the Markle Foundation. Was moderator
of the “business-labor dialogue” organized by General Electric’s
Jack Welch and AFL-CIO President John Sweeney.
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| Wilbur Ross |
Wilbur Ross, 68, a graduate of Yale College (B.A.) and Harvard University (MBA). Executive Managing Director at Rothschild, Inc., from October 1974 to March 2000. Formed W.L. Ross & Co. on April 1, 2000 to take over management of the Rothschild Recovery Fund, and now controls about $6 billion in funds. Buys and consolidates bankrupt companies worldwide. Active in textiles, coal, auto parts, telecommunications, and Asian banking as well as steel. Lives in a “palatial” apartment in the Sherry Netherland in New York City; additional residences at Southampton, N.Y., and Palm Beach, Fla.
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| Nathaniel Rothschild |
Nathaniel Rothschild, 34, only son of Serena Mary Dunn, granddaughter of Canadian financier Sir James Dunn, and Jacob Rothschild, 4th Baron Rothschild. Schooled at Eton College and holds an M.A. in modern history from Oxford University. Joined London office of fund manager Lazard. Co-founded and co-chairs Atticus Capital. Chairman of JNR Ltd., an investment company that won preliminary approval from the Ukraine government to develop the Prykerchenska oil field in the Black Sea with Houston-based Vanco Energy. Owns 25 percent stake in Trigranit, a major central and eastern European property developer, with Sandor Csanyl, head of OTP (Hungary National Savings) Bank and considered Hungary’s richest man.
Close knit
In addition to Kaden, Ross, and father-and-son Mittal, the five other
directors of Mittal Steel are:
- Vanisha Mittal Bhatia, 25, daughter
of Lakshmi Mittal, with a B.A. degree in Business Administration from
the European Business School. Previous to her appointment, her mom,
Usha, sat on Mittal-run boards, including Ispat International.
- René Lopez, 60, owner and president of Gesterel, Inc., a Canadian
consultancy specializing in mergers and acquisitions and “coaching
for growing industrial firms.”
- Muni Krishna T. Reedy, 60, chairman
of the SBM Group consisting of the State Bank of Mauritius, Bank SBM
Madagascar, and SBM Nedbank International Ltd. He is also deputy chairman
of Global Financial Services PLC Malta.
- Andrés Rozental, 60,
a longtime Mexican diplomat, is president of Rozental & associados
in Mexico City, and director of New India Investment Trust Ltd., Aeroplazas
de Mexico, and Inmobiliaria Fumisa. Board member of Ispat International,
a Mittal holding company merged into Mittal Steel in December 2004.
- Narayanan Vaghul, 69, is chairman
of the Industrial Credit and Investment Corp. of India (ICICI) and
ICICI Bank Ltd. Lakshmi Mittal sits on the board of ICICI Bank. Vaghul
was also on the board of Ispat International.
© 2006 Mark Reutter Posted 4/24/06