Paul O'Flaherty
Photo by: Duane Daws
ArcelorMittal South Africa (AMSA) has appointed former Eskom Holdings FD and group executive Paul Sean O’Flaherty CEO and executive director, effective July 1, replacing Nonkululeko Nyembezi-Heita who stepped down in February.
Dr Hans Ludwig Rosenstock, who assumed the role of acting CEO and executive director on February 19, would revert back to his role as COO and ex-officio board member.
O’Flaherty, a chartered accountant, stepped down from Eskom in July last year, after having served as FD for three-and-a-half years. He also previously held the position of CFO and deputy CEO at construction group Group Five.
“We are delighted that a talented executive of O’Flaherty’s calibre will join [the company] to inject new energy into our efforts as we embark on a strategic turnaround of the company to restore profitability, business performance, broad-based black economic empowerment and the strategic transformation of the company,” AMSA chairperson Mpho Makwana said in a statement.
O’Flaherty’s appointment was met by approval from industry.
South African Iron and Steel Institute (Saisi) acting secretary general Johann Nel said the organisation had confidence in the new CEO of AMSA, stating that he would add value in the steel industry while his knowledge and experience gained at Eskom would hopefully bring to bear valuable insight in an environmentt of rising energy costs.
The Steel and Industries Federation of Southern Africa (Seifsa) also wished O’Flaherty well.
“I am confident that Mr O'Flaherty will add considerable value to AMSA and ensure that the company continues to be an active participant in industry matters through the federation," Seifsa CEO Kaizer Nyatsumba said.
The Southern African Institute of Steel Construction, said CEO Paolo Trinchero, was confident that its strong working relationship with AMSA would continue under O’Flaherty’s leadership.
Trade union Solidarity also welcomed O’Flaherty’s appointment.
“O’Flaherty has a record of sincere and thoroughgoing stakeholder engagement. We’ve experienced him as a competent and committed senior executive at Eskom and we look forward to positive engagement with him in his new role,” Solidarity metal, engineering and electrical industry head Deon Reyneke stated.