June 29, 2008 / 4:46 PM / 11 years ago

Lakshmi Mittal joins Goldman Sachs board

President and CEO of ArcelorMittal Lakshmi N. Mittal smiles at a hotel in Bangkok April 9, 2008. Mittal, 57, was among the foreign business chiefs invited to give a talk at a forum in Bangkok. REUTERS/Chaiwat Subprasom

NEW YORK (Reuters) - Steel tycoon Lakshmi Mittal has joined the board of directors of Goldman Sachs Group Inc (GS.N), the world’s largest securities firm said on Sunday.

Mittal, the chairman and chief executive of the world’s largest steelmaker ArcelorMittal ISPA.AS, joined Goldman’s 13-member board on Saturday as an independent director, the firm said in a statement.

Mittal, one of the world’s richest men, made his fortune by transforming ailing steel mills around the world into more profitable ventures. Mittal and his family together own over 43 percent of ArcelorMittal, which accounts for about 10 percent of the world’s steel output.

Mittal is also a director of European aerospace group EADS NV EAD.PA and India’s largest private lender ICICI Bank Ltd (ICBK.BO).

Reporting by Emily Chasan, editing by Maureen Bavdek

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