Biography - Lakshmi Nivas Mittal

 Indian born British steel tycoon

 Born on June 15th 1950 in Rajasthan

 Family moved to Kolkata from Rajasthan

 His father Mohanlal Mittal set up a small steel mill in Kolkata.

 Finished his bachelors degree in business and accounting Mittal began his early career in his
fathers steel firm in the early 70s

 In 1976 Mittal moved to Indonesia and acquired a steel plant ISPAT INDO.

 His success has largely been built on buying up loss making steel owned mills and quickly turning
them 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.

 Mittal Group got into steel industry in 1976 when M L Mittal left country because of India’s
restrictive economic policies. He went to Indonesia to set up ISPAT INDO.

 Group started spreading its activities across the globe in 1989 when it acquired an ailing plant in
Trinidad and Tobago which was revived

 1994 group underwent partition of business interest in the family. All the foreign business were
hived of into a 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

Current Status

 World’s largest and most global steel company with shipment of 49.2 million tones and revenue
of over $28.1 billion in 2005 and net income of $3.4 billion

 No. 1 high quality steel producer with crude steel capacity with more than 70 million tons per
annum

 Own steel making facilities in 16 countries spanning 4 continents

 Employs 224000 people spanning 49 different nationalities

Awards

 Mittal was awarded Fortune magazines “European Businessman of the Year 2004”

 Previously, he was awarded “Steelmaker of the Year” in 1996 by New Steel in the USA
  The “Willy Korf Steel Vision Award” in June 1998

 In March 2005, Forbes named him the third richest man in the world and the richest non-
American, with a wealth of $25 billion.

 L N Mittal is a member of

 The Foreign Investment Council in Kazakhstan,

 The International Investment Council in South Africa,

 The World Economic Forum’s International Business Council and

 The International Iron and Steel Institute’s Executive Committee.

 L N Mittal is on the advisory board of the Kellogg School Of Management in the US

 “The steel industry has always been fragmented. The steel industry needs to be consolidated,''
Mittal said in a television interview on CNN.

 Steelmakers across Asia are putting defensive measures in place to prevent being swallowed by
Arcelor Mittal. Mittal is combining with Luxembourg-based Arcelor SA in a $38.3 billion
transaction to create a company pouring a 10th of the world's steel.

 ``We are focusing on India and China,'' Mittal said July 7 in Bhubaneswar, India. ``India is a very
important milestone for us to remain the biggest company in the global steel industry.''

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 Mittal-

 A great individual

 A corporate leader in business

 Started the trend of mergers around the world

 A caring family man

 A complete human being

 “ This is not about creating a giant ….its about creating the sustainability of the steel industry..”

 -Lakshmi Niwas Mittal