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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 MittalBiography - Lakshmi Nivas Mittal
Indian born British steel tycoonIndian born British steel tycoon
Born on September 5Born on September 5thth 1950 in Rajasthan 1950 in Rajasthan
Family moved to Kolkata from RajasthanFamily moved to Kolkata from Rajasthan
His father Mohanlal Mittal set up a small His father Mohanlal Mittal set up a small
steel mill in Kolkata.steel mill in Kolkata.
Finished his bachelors degree in business Finished his bachelors degree in business
and accounting. Mittal began his early and accounting. Mittal began his early
career in his fathers steel firm in the early career in his fathers steel firm in the early
70s.70s.
In 1976 Mittal moved to Indonesia and In 1976 Mittal moved to Indonesia and acquired a steel plant ISPAT INDO.acquired a steel plant ISPAT INDO.
His success has largely been built on His success has largely been built on buying up loss making steel owned mills buying up loss making steel owned mills and quickly turning them around.and quickly turning them around.
• His wife Usha runs the Indonesian business His wife Usha runs the Indonesian business and his son Aditya and daughter Vanisha are and his son Aditya and daughter Vanisha are members of the board of directors of Mittal members of the board of directors of Mittal steel.steel.
MITTAL STEEL
History of Mittal Steel
Mittal Group got into steel industry in 1976 when M L Mittal Group got into steel industry in 1976 when M L Mittal left country because of India’s restrictive Mittal left country because of India’s restrictive economic policies. He went to Indonesia to set up economic policies. He went to Indonesia to set up ISPAT INDO.ISPAT INDO.
Group started spreading its activities across the globe Group started spreading its activities across the globe in 1989 when it acquired an ailing plant in Trinidad in 1989 when it acquired an ailing plant in Trinidad and Tobago which was revivedand Tobago which was revived
1994 group underwent partition of business 1994 group underwent partition of business
interest in the family. All the foreign business interest in the family. All the foreign business
were hived of into a separate group ISPAT were hived of into a separate group ISPAT
International under the control of L N Mittal International under the control of L N Mittal
while Indian operations remained with his while Indian operations remained with his
younger brothers P K Mittal and V K Mittal younger brothers P K Mittal and V K Mittal
AcquisitionsAcquisitions
Current Status
World’s largest and most global steel company with World’s largest and most global steel company with
shipment of 49.2 million tones and revenue of over shipment of 49.2 million tones and revenue of over
$28.1 billion in 2005 and net income of $3.4 billion$28.1 billion in 2005 and net income of $3.4 billion
No. 1 high quality steel producer with crude steel No. 1 high quality steel producer with crude steel
capacity with more than 70 million tons per annumcapacity with more than 70 million tons per annum
Own steel making facilities in 16 countries spanning 4 Own steel making facilities in 16 countries spanning 4
continentscontinents
Employs 224000 people spanning 49 different Employs 224000 people spanning 49 different
nationalitiesnationalities
Qualities and DistinctivenessHard workingOutstanding visionConvincing, Motivating and guidingZeal and fiercenessCapacity to leadBravery
AwardsMittal was awarded Fortune magazines Mittal was awarded Fortune magazines
“European Businessman of the Year “European Businessman of the Year 2004”2004”
Previously, he was awarded Previously, he was awarded “Steelmaker “Steelmaker of the Year”of the Year” in 1996 by New Steel in the in 1996 by New Steel in the USA USA
The The “Willy Korf Steel Vision Award”“Willy Korf Steel Vision Award” in in June 1998 June 1998
In March 2005, Forbes named him the In March 2005, Forbes named him the third richest man in the world and the third richest man in the world and the richest non-American, with a wealth of richest non-American, with a wealth of $25 billion. $25 billion.
L N Mittal is a member of L N Mittal is a member of • The Foreign Investment Council in The Foreign Investment Council in
Kazakhstan, Kazakhstan, • The International Investment Council in The International Investment Council in
South Africa,South Africa,• The World Economic Forum’s The World Economic Forum’s
International Business Council and International Business Council and • The International Iron and Steel The International Iron and Steel
Institute’s Executive Committee.Institute’s Executive Committee.
L N Mittal is on the advisory board of the L N Mittal is on the advisory board of the Kellogg School Of Management in the US Kellogg School Of Management in the US
Mittal Steel believes that businesses should play a major role in supporting the communities in which they operate.
Operations by Mittal Steel in the sense of social responsibility kind of support to:
Kazakhstan
South Africa
USA
Algeria
India
CORPORATE SOCIAL RESPONSIBILITY
EducationEducation
• Mittal Steel in South Africa has donated over Mittal Steel in South Africa has donated over $177mn to community development projects.$177mn to community development projects.
• Company’s latest project to sponsor South Africa Company’s latest project to sponsor South Africa national science Olympiads.national science Olympiads.
• Mittal Steel sponsorship is valued at $1.5mn.Mittal Steel sponsorship is valued at $1.5mn.
Health and SafetyHealth and Safety
• Robust set of safety standards to reduce Robust set of safety standards to reduce
accidents.accidents.
• Mittal Steel operates an E-Room.Mittal Steel operates an E-Room.
• Safe business is a good business.Safe business is a good business.
Sponsorship &support to football , basketball & Sponsorship &support to football , basketball & other sports.other sports.
Sporting beneficiaries are Czech Republic, Sporting beneficiaries are Czech Republic, Romania & Algeria.Romania & Algeria.
• Sporting link with west IndiesSporting link with west Indies
SportsSports
CommunityCommunity
Main provider of electricity.Main provider of electricity. Urban development project in Karaganda Mittal Steel in 1995.Urban development project in Karaganda Mittal Steel in 1995. Constructed modern facilities for the Karaganda Metallurgical Constructed modern facilities for the Karaganda Metallurgical
institute.institute. In Algeria the Company gave a $100,000 aid.In Algeria the Company gave a $100,000 aid. Was known for $242,000 Corporate contribution in 2005.Was known for $242,000 Corporate contribution in 2005.
Management & Employees equally moved by devastation when Management & Employees equally moved by devastation when hurricane Katrina inflicted.This raised more then $500,000 for hurricane Katrina inflicted.This raised more then $500,000 for red cross.red cross.
““The steel industry has always The steel industry has always been fragmented. The steel been fragmented. The steel industry needs to be industry needs to be consolidated,'' Mittal said in a consolidated,'' Mittal said in a television interview on CNN. television interview on CNN.
Steelmakers across Asia are Steelmakers across Asia are putting defensive measures in putting defensive measures in place to prevent being place to prevent being swallowed by Arcelor Mittal. swallowed by Arcelor Mittal. Mittal is combining with Mittal is combining with Luxembourg-based Arcelor SA Luxembourg-based Arcelor SA in a $38.3 billion transaction to in a $38.3 billion transaction to create a company pouring a create a company pouring a 10th of the world's steel. 10th of the world's steel.
``We are focusing on India and ``We are focusing on India and China,'' Mittal said July 7 in China,'' Mittal said July 7 in Bhubaneswar, India. ``India is Bhubaneswar, India. ``India is a very important milestone for a very important milestone for us to remain the biggest us to remain the biggest company in the global steel company in the global steel industry.'' industry.''
LEADERSHIP STYLEA 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 Mittal-The Leader in Mittal-A great individualA great individualA corporate leader A corporate leader
in businessin businessStarted the trend of Started the trend of
mergers around the mergers around the worldworld
A caring family manA caring family manA complete human A complete human
beingbeing
“ This is not about creating a giant ….its about creating the sustainability of the steel industry..”
-Lakshmi Niwas Mittal
Presentation by Glenn NishanthPallavi KeerthanaaPratik