ArcelorMittal Italia changes personnel, exit rumours re-surface

ArcelorMittal Italia, the unit of ArcelorMittal controlling the operations of the former Ilva, has replaced its chief marketing officer, Kallanish learns from sources.

Carlo Malasomma, the chief marketing officer at ArcelorMittal Italia since the company agreed to take over the former Ilva back in 2018, is being replaced by Alessandro Faroni.

It is also understood that ArcelorMittal is reorganising its commercial structure to shield the Italian unit from its other European activities. However, further information is yet to be divulged. Views among sources close to the company diverge as to whether this move is merely to improve the organisation, or whether it signals the preparation for an exit from Italy by ArcelorMittal.

Negotiations between ArcelorMittal and Italian authorities on the future of the former Ilva assets are still ongoing. The parties have until the end of November to reach a final agreement on the planned investment by Italian authorities aimed at supporting the revival of the steelworks. In the event an agreement is not reached, AM InvestCo has a withdrawal right, subject to an agreed payment of €500 million ($591m).