ArcelorMittal: Brad Davey Retires, Responsibilities Split Among Three Executives
ArcelorMittal announced on November 9, 2026, that Brad Davey will leave the group on January 1, 2027, to retire. His responsibilities will be shared among Pinakin Chaubal, Genuino Christino and Vijay Goyal; the first will now report directly to the Chief Executive Officer, Aditya Mittal.
Forty Years of Career, From Dofasco to the Group Management Committee
Brad Davey has held the position of EVP and Head of Corporate Business Optimisation since 2021. In this role, he oversees a range of functions: health and safety, R&D, technical management (including investment projects), global automotive, marketing management, China and joint ventures, corporate communications and sustainable development.
He began his career in the steel industry 40 years ago at Dofasco in Canada as a project engineer, before becoming a maintenance foreman for the hot strip mill in 1990. After more than a decade in production and technology roles, he moved into marketing.
He served as Vice President of Sales and Marketing at Dofasco, Sales Director for the NAFTA flat products business, and then Marketing Director for North America and global automotive. In 2018, he was appointed Chief Executive Officer of ArcelorMittal's North American segment and became a member of the Group Management Committee.
Pinakin Chaubal Takes On Safety, R&D and Automotive
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Pinakin Chaubal will oversee health and safety, GCTO, R&D, capital goods, investment projects, CCM, global automotive, the group's ports, as well as AMTB Europe and North America. He will report directly to Aditya Mittal.
Sustainable development and corporate communications will be attached to Genuino Christino, EVP and Chief Financial Officer of the group. China and business development in Southeast Asia will fall under Vijay Goyal, EVP.
Aditya Mittal highlighted Brad Davey's work on safety: “after two years of implementing the three-year transformation program, progress is now visible.”
Executive Chairman Lakshmi N. Mittal, for his part, highlighted his role in the growth of the global automotive business, which he described as “one of our most important customer segments.”
Brad Davey stated: “It is not an easy decision to retire from a company as diverse and dynamic as ArcelorMittal.” He expressed confidence in the group's ability to “continue making progress on safety and achieve the goal of zero fatal accidents.”
« Looking ahead, we remain very positive. » ; « Outlook across the near, medium and long term remains positive »
Risks mentioned
Ukraine operations idled following multiple missile strikes with safety and logistical challenges; future cash spend expected to be limited
Temporary $2.5bn working capital investment during 9M 2026 creating near-term cash drag, though expected to unwind in 4Q
Weather disruption in Liberian mining and lagged benefit of higher steel prices yet to be reflected in Europe segment results
Opportunities identified
Enhanced EU trade measures beginning to rebalance European steel market fundamentals with all European blast furnaces back in operation
Strategic growth projects (3.9Mt EAF capacity by 2029 in Europe, Liberia ramp-up) supporting medium to long-term earnings growth
Group shipments in 2H 2026 expected to exceed 1H 2026; flat shipment growth expected to accelerate in 4Q with double-digit year-on-year increase
Outlook / guidance
Management commentary: The 9M 2026 investment in working capital of $2.5bn is expected to largely unwind in 4Q 2026, supporting a healthy cash generation and continued returns to shareholders and lower net debt.
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
