Biz people

Fisher to take helm at ABN

Royal Bank of Scotland Group Plc's Mark Fisher (left) will replace Rijkman Groenink as chairman of ABN Amro Holding NV a day after the Scottish bank and its partners won shareholder backing to take over the biggest Dutch bank.

Fisher is currently chief executive officer of the manufacturing division and a member of the Edinburgh-based Royal Bank's board, the companies said in an e-mailed statement yesterday.

The other existing members of ABN's management board will retain their positions with revised responsibilities, the statement said. Royal Bank of Scotland Group Plc expects to be listed on Euronext Amsterdam starting from Monday.

Rocca rules out Tenaris sale

Tenaris SA, which makes steel pipes for oil and gas exploration, said it won't sell out to ArcelorMittal, the world's biggest steel producer, the Financial Times said, citing Tenaris Chief Executive Officer Paolo Rocca.

Buenos-Aires-based Tenaris will remain independent and has no intention of being bought by Luxembourg-based ArcelorMittal or any other investor, the FT quoted Rocca as saying.

SKF may get new chairman

Scania AB Chief Executive Officer Leif Oestling (above right) may become new chairman of SKF AB, Dagens Industri reported, without saying where it obtained the information.

SKF Chairman Anders Scharp will leave his post at SKF's annual meeting with shareholders next year, the Swedish business daily said yesterday. Scharp also sits on the board of Investor AB, which holds 20 percent of Scania's voting rights, while Oestling has been a member of SKF's board since 2005, the newspaper said.

SKF is the world's biggest maker of roller bearings while Scania is Sweden's second-largest truckmaker.

(China Daily 10/12/2007 page16)