Former ministry of the economy Étienne Schneider (LSAP) can expect an annual remuneration of more than €170,000 when he takes up position as a non-executive director on the board of ArcelorMittal.

Reporter.lu journalist Véronique Poujol says (article in French) that Schneider is expected to be appointed at a general meeting on 13 June. Schneider’s predecessor as minister of the economy, Jeannot Krecké, is stepping down from the ArcelorMittal board.

Schneider has also been appointed to the board of Russian conglomerate Sistema, again replacing Krecké, for which he could earn around €225,000 per annum.