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
Chungs 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."
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 WorldSteels vice
chairmen, according to its charter.
chief executive officer of Russian steelmaker OAO Severstal,
and Wolfgang Eder, chairman and chief executive officer of
Austrias Voestalpine AG, are the current vice chairmen of
A version of this
article was first published in AMM sister publication Steel