The board of directors of Goldman Sachs have appointed Lakshmi N. Mittal as an independent director of the firm effective 28 June 2008. Mittal will serve on the Audit, Compensation and Corporate Governance and Nominating Committees of the board. With the addition of Mittal, the Goldman Sachs board consists of 13 directors, of whom ten are independent directors.
“Lakshmi Mittal has reshaped a global industry and, in the process, has engineered new modes of production, identified unrealised value and sparked remarkable growth,” says Lloyd C. Blankfein, chairman and CEO, Goldman Sachs. “He has a keen understanding of the global economy, having operated in virtually every corner of the world. Lakshmi’s experience, judgment and independent thinking represent an important addition to our board of directors, and will be of tremendous value to our people, our shareholders and our clients.”
Mittal is the chairman and CEO of ArcelorMittal S.A., the world’s largest and most global steel producer. He founded Mittal Steel Company N.V. (formerly the LNM Group) in 1976. He served as CEO of Mittal Steel from 1976 until 2006, when Mittal Steel acquired Arcelor S.A. to form ArcelorMittal. He has over 30 years of experience working in steel and related industries.
Mittal has been recognised for his outstanding business achievements, including having been named “Business Person of 2006” by the Sunday Times, “International Newsmaker of the Year 2006” by Time Magazine and “Person of the Year 2006” by the Financial Times. In January 2007, he was presented with a Fellowship from King’s College London, the college’s highest award. He also received the 2007 Dwight D. Eisenhower Global Leadership Award and the Grand Cross of Civil Merit from Spain. In January 2008, he was awarded the Padma Vibhushan, India’s second highest civilian honor, by the President of India.
Mittal serves as a director of EADS N.V. and ICICI Bank Limited. He is also active in international organisations and non-profit institutions, including the World Economic Forum, the Indian School of Business, the Kellogg School of Management at Northwestern University and The Princes Trust.
Mittal graduated from St. Xaviers College in Calcutta, where he received a Bachelor of Commerce degree.