This report examines the post-merger board structure of Arcelor Mittal, formed through the merger of Mittal Steel and Arcelor. It analyzes the composition of the board, highlighting the significant control retained by the Mittal family and its implications on corporate governance. The report discusses the pros and cons of the board structure, including the distribution of power, representation of stakeholders, and potential conflicts of interest. It also assesses the ability of institutional investors to contribute to the company's governance, considering the Mittal family's substantial voting equity. Furthermore, the report evaluates the positive and negative impacts on the effectiveness of the pre-merger Mittal Steel board. The analysis covers ethical issues arising from changes in corporate governance and assesses the overall impact on the firm's operations. The report concludes by comparing the effectiveness of the pre-merger and post-merger board structures, considering factors such as risk management, stakeholder representation, and ethical conduct.
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