<p>Global steel giant ArcelorMittal on Thursday posted $1,207 million net income for the quarter ended December 31, 2020.</p>.<p>The world's largest steelmaker had posted a net loss of $1,882 million in the year-ago quarter, the company said in a statement.</p>.<p>The company reported a "net income attributable to equity holders of the parent" of $1,207 million in the fourth quarter.</p>.<p>ArcelorMittal follows January to December fiscal year.</p>.<p>For the whole year (2020), the company reported a net loss of $733 million as against net income of $2,454 million in 2019.</p>.<p><strong>Also read: <a href="https://www.deccanherald.com/business/business-news/arcelormittal-to-sack-20-staff-in-1-billion-cost-reduction-plan-949969.html" target="_blank">ArcelorMittal to sack 20% staff in $1 billion cost-reduction plan</a></strong></p>.<p>Further, the Board of Directors of ArcelorMittal has announced that Aditya Mittal, who is currently President, CFO and CEO ArcelorMittal Europe, will become Chief Executive Officer of the company.</p>.<p>Lakshmi N Mittal, who is currently Chairman and CEO, will become Executive Chairman.</p>.<p>In this position he will continue to lead the Board of Directors and work together with the CEO and management team, the statement said. </p>
<p>Global steel giant ArcelorMittal on Thursday posted $1,207 million net income for the quarter ended December 31, 2020.</p>.<p>The world's largest steelmaker had posted a net loss of $1,882 million in the year-ago quarter, the company said in a statement.</p>.<p>The company reported a "net income attributable to equity holders of the parent" of $1,207 million in the fourth quarter.</p>.<p>ArcelorMittal follows January to December fiscal year.</p>.<p>For the whole year (2020), the company reported a net loss of $733 million as against net income of $2,454 million in 2019.</p>.<p><strong>Also read: <a href="https://www.deccanherald.com/business/business-news/arcelormittal-to-sack-20-staff-in-1-billion-cost-reduction-plan-949969.html" target="_blank">ArcelorMittal to sack 20% staff in $1 billion cost-reduction plan</a></strong></p>.<p>Further, the Board of Directors of ArcelorMittal has announced that Aditya Mittal, who is currently President, CFO and CEO ArcelorMittal Europe, will become Chief Executive Officer of the company.</p>.<p>Lakshmi N Mittal, who is currently Chairman and CEO, will become Executive Chairman.</p>.<p>In this position he will continue to lead the Board of Directors and work together with the CEO and management team, the statement said. </p>