Guy Dollé

Arcelor against Mittal. Dollé, chief executive of the Luxembourg-based steelmaker Arcelor, fought Lakshmi Mittal's hostile bid in 2006, dismissing it in disparaging terms and agreeing a rescue merger with Russia's Severstal. Shareholders rejected the defence and accepted a raised Mittal offer, creating ArcelorMittal, and he left. His fight showed how little a board can do once investors prefer the price.