ArcelorMittal announced on Monday the retirement of Malay Mukherjee, member of the Group Management Board, from executive duties subject to shareholders' approval.

Mukherjee, 60, responsible for Asia, Africa, the CIS, mining, stainless and pipes and tubes, will retire on May 13, the date of the company's annual general meeting, a company release said.

The board of directors will propose to the AGM of shareholders that he will be appointed as a non-executive member of the Company's Board of Directors effective from that date.

Commenting on the development Mukhejee said, "I am delighted to have been asked to become a member of the company's board of directors."

Mukherjee joined ArcelorMittal (then Ispat International) in 1993 as executive director of the company's Mexican operations and subsequently became the CEO. In 1996, Mukherjee moved to Kazakhstan as the company's CEO for three years.

In 2001, he was appointed as CEO, first of Ispat International and subsequently of Mittal Steel Company, following the merger between Ispat International, LNM Holdings and International Steel Group.

Following the merger between Arcelor and Mittal Steel in 2006, Mukherjee was appointed as one of the six members of the company's group management board, with particular responsibility of Asia, Africa, the CIS, Mining, stainless and pipes and tubes.