The chief executive officer (CEO) of Abu Dhabi-based Emirates Steel Industries (ESI) has confirmed he is leaving the company at the end of August.
As CEO, Munstermann was expected been in charge of planning ESI’s phase three expansion, a 1.4 million tonnes a year (t/y) steel plant to be built next to the existing production sites in Mussafah.
Instead, Munstermann has confirmed to MEED that he is leaving the company. “I will leave Emirates Steel, [the] official end of my employment will be 31 August,” Munstermann said in an email.
“I plan to set up a consultancy focusing on the steel industry,” he added. “The company will be based in Germany, however I expect that quite some of the customers will be based in the Middle East.”
Munstermann joined ESI in September 2009. “Gregor Munstermann is our ideal choice to lead Emirates Steel and our world-scale expansion plan,” ESI chairman Hussain al-Nowais, said at the time.
ESI did not comment when asked about Munstermann’s planned departure.