 |
Gi DolleFormer Chairman of the Board of Arcelor.
Date of Birth: 31.10.1942
Country:  France |
Content:
- Guy Dolle: Former CEO of Arcelor
- Career at IRSID and Usinor
- Merger of Arcelor
- Acquisition and Brazilian Expansion
- Resistance to Mittal Steel's Offer
- Merger with Severstal
- Shareholders' Disapproval
- Arcelor's Acceptance of Mittal Steel's Offer
Guy Dolle: Former CEO of Arcelor
Early Life and EducationGuy Dolle was born on October 31, 1942, in Metz, France. He grew up in the Lorraine region and attended the prestigious École Polytechnique outside Paris.
Career at IRSID and Usinor
In 1966, Dolle joined the Institute for Research in Iron and Steel (IRSID). In 1980, he moved to the French steel producer Usinor. After holding various positions in different divisions and corporate headquarters, he became CEO in 1999.
Merger of Arcelor
Dolle played a key role in the merger of Usinor with the Spanish Aceralia and the Luxembourg Arbed to form Arcelor in 2002. He became Chairman of Arcelor's management board in February 2002. The company became a leading global producer of steel until it was surpassed by Mittal Steel in 2005.
Acquisition and Brazilian Expansion
In 2005, Arcelor acquired the Canadian company Dofasco and established a subsidiary in Brazil.
Resistance to Mittal Steel's Offer
When Mittal Steel launched a takeover bid for Arcelor on January 27, 2006, Dolle became a staunch opponent of the deal. He argued that the European conglomerate and the Indian magnate Lakshmi Mittal's company were "on different planets." "They make cologne, we make perfume," Dolle said. Observers attributed the resistance to a personal animosity between Dolle and Mittal.
Merger with Severstal
On May 26, 2006, Arcelor's management announced plans to merge with the Russian company Severstal. Dolle disclosed that talks with Severstal's CEO Alexei Mordashov about a potential merger had been underway since 2002, with the threat of a "hostile takeover" by Mittal Steel serving as a catalyst.
Shareholders' Disapproval
A significant number of Arcelor's shareholders did not support the management's plans, fearing that the Russian oligarch could eventually gain sole control of the combined company despite safeguards.
Arcelor's Acceptance of Mittal Steel's Offer
Following renewed negotiations with Mittal Steel, Arcelor's board of directors approved a revised merger proposal on July 25. While some sources claimed that Dolle would remain in a position of authority in the merged company, Lakshmi Mittal announced that his adversary would have to step down.
