BusinessLive reports that the chief financial officer (CFO) of ArcelorMittal SA (Amsa), Siphamandla Mthethwa, has resigned with immediate effect after a 16-day stint in the position.

In a statement to shareholders on Monday, the steel giant said Mthethwa was stepping down as CFO and executive director “for personal reasons”, but did not elaborate. Mthethwa’s appointment was announced in April just hours after Airports Company SA said that Mthethwa had resigned as CFO of the state-owned company that manages airports. At the time, Amsa said his appointment would come into effect on 1 July “or sooner if circumstances permit”. His predecessor, Desmond Maharaj, vacated the position in May 2021, leaving Amsa without a permanent CFO for 23 months. The board of the R4bn JSE-listed company indicated that it had approved chief strategy officer Gavin Griffiths to act as CFO until a new candidate was chosen. The Amsa board added that Griffiths – a qualified chartered accountant with experience at a senior executive level – “is well qualified and has the necessary experience and understanding of the steel industry and the company to fulfil this role effectively.”

• Read the full original of the report in the above regard by Michelle Gumede at BusinessLive

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