Steel manufacturer Aperam has announced changes to its board of directors, effective January 1, 2026. Timoteo Di Maulo, the current CEO, will join the board as a director, while Sandeep Jalan will step down for personal reasons.
Timoteo Di Maulo, who will cease his role as CEO on December 31, 2025, will be co-opted as a director starting January 1, 2026, according to the press release. His appointment will need to be approved by the shareholders at the next general meeting. Lakshmi N. Mittal, the chairman of the board, stated that Mr. Di Maulo's industrial experience, having led Aperam for over a decade, will be a valuable asset to the board. The company has not yet disclosed who will succeed Mr. Di Maulo as CEO.
Board Departure
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Sandeep Jalan will leave the board of directors on December 31, 2025, for personal reasons, the company specifies. Mr. Jalan previously held the position of CFO of Aperam before serving on the board. The chairman highlighted Mr. Jalan's dedication both in his role as a director and during his previous tenure as CFO. This dual transition comes as Aperam reported a revenue of EUR 6,255 million and shipments of 2.29 million tonnes in 2024, according to the press release.
Company Overview
Aperam is a global player in stainless, electrical, and specialty steel, as well as recycling, with a commercial presence in over 40 countries, the press release reminds. The group has a production capacity of 2.5 million tonnes of flat stainless and electrical steel in Brazil and Europe. Its industrial network includes sixteen production sites located in Brazil, Belgium, France, the United States, India, and China. The company emphasizes its ability to produce low-carbon footprint stainless and specialty steels using biomass and scrap, particularly through its subsidiaries Bioenergia and ELG, a global leader in the collection and recycling of stainless steel scrap.
Je suis heureux d'annoncer que nous avons généré un flux de trésorerie disponible solide de 138 millions d'euros, ce qui nous a permis de réduire considérablement notre dette nette à 1 045 millions d'euros.
Ralentissement saisonnier et pression sur les prix en Europe entraînant une baisse des volumes et de l'EBITDA; génération de trésorerie solide et réduction de la dette nette; progrès sur les initiatives Leadership Journey®.
Risks mentioned
Pression continue sur les prix des métaux et des produits
Ralentissement saisonnier affectant les volumes
Surcapacité mondiale du secteur de l'acier
Dépendance à l'évolution des prix des métaux (perspectives conditionnelles)
Opportunities identified
Initiative Leadership Journey® Phase 5 visant 200 millions d'euros de gains (29 millions d'euros réalisés au T3, cumul 165 millions d'euros)
Réduction prévue de la dette financière nette de plus de 200 millions d'euros d'ici fin 2025
Proposition de la Commission européenne visant à atténuer les effets négatifs de la surcapacité mondiale pour le secteur de l'acier en Europe
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