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Chung quits Posco, WorldSteel role ‘to be discussed’

Keywords: Tags  Joon-Yang Chung, Posco, steel, steelmaker, World Steel Association, WorldSteel, Alexey Mordashov, Severstal Wolfgang Eder


LONDON — The role of World Steel Association (WorldSteel) chairman Joon-Yang Chung is up for discussion following word of his resignation as chairman and chief executive officer of South Korean steelmaker Posco Ltd., the association said Nov. 15.

Chung tendered his resignation from his posts at the Pohang, South Korea-based steelmaker earlier Nov. 15.

"We are aware of Chung’s announcement. There is no immediate pressure on timing," a WorldSteel spokeswoman told AMM sister publication Steel First. "Chung is visiting our offices in a few weeks’ time and we will discuss it in more detail then."

Brussels-based WorldSteel, which appointed Chung chairman last month (amm.com, Oct. 8), said that it would be "unlikely" the group would attempt to replace him following his resignation from Posco.

If necessary, however, the role would transfer to one of WorldSteel’s vice chairmen, according to its charter.

Alexey Mordashov, chief executive officer of Russian steelmaker OAO Severstal, and Wolfgang Eder, chairman and chief executive officer of Austria’s Voestalpine AG, are the current vice chairmen of WorldSteel.

A version of this article was first published in AMM sister publication Steel First.


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