INDIACSR News Network
JAMSHEDPUR: Tata Steel today announced a new leadership structure and a series of executive appointments, as part of its drive to accomplish its strategic business objectives.
The board of Tata Steel has appointed Mr. T V Narendran as MD- Designate, India and South East Asia and has inducted him as Additional Director on the Board. On reaching superannuation on 31 October 2013, Mr. H M Nerurkar MD Tata Steel India and South East Asia will step down from the Board of Tata Steel and will be succeeded by Mr. T V Narendran w.e.f. 1 November 2013.
Mr. Narendran is currently VP (Safety & Flat Products) Tata Steel. He joined the company after completing his MBA from IIM Calcutta in 1988. Mr. Narendran is a Chevening Scholar and has also attended the Advanced Management Programme in CEDEP – INSEAD, Fontainebleau, France.
The board has also appointed Mr. Koushik Chatterjee ED and Group CFO as the Group Executive Director (Finance and Corporate). In addition to maintaining responsibility for the company’s finance function, Mr. Chatterjee will be responsible for the Tata Steel Group Corporate functions including Legal and Regulatory Affairs, Corporate Communications, Strategic Procurement, Information Systems, Group Investments, Global Mining Projects and Assurance. Mr. Chatterjee is an Honors Graduate in Commerce from Calcutta University and is a Fellow Member of the Institute of Chartered Accountants of India. He joined Tata Steel in 1995 as a chartered accountant working in the Corporate Finance team.
The Board has put in place appropriate governance process to ensure a smooth transition of leadership.
With effect from November 1, 2013, Dr Karl Koehler MD & CEO Tata Steel Europe, Mr. TV Narendran MD Tata Steel India and South East Asia and Mr. Koushik Chatterjee Group Executive Director (Finance and Corporate) will report to the Chairman and the Board of Tata Steel.
The new leadership team will be responsible for defining the overall direction and strategy for Tata Steel across both its emerging and developed markets.
Established in 1907 as Asia’s first integrated private sector steel company, Tata Steel Group is among the top-ten global steel companies with an annual crude steel capacity of over 29 million tonnes per annum (mtpa). It is now the world’s second-most geographically-diversified steel producer, with operations in 26 countries and a commercial presence in over 50 countries. The Tata Steel Group, with a turnover of US$ 24.82 billion in FY 13, has over 80,000 employees across five continents and is a Fortune 500 company. The Group’s vision is to be the world’s steel industry benchmark in “Value Creation” and “Corporate Citizenship” through the excellence of its people, its innovative approach and overall conduct. Underpinning this vision is a performance culture committed to aspiration targets, safety and social responsibility, continuous improvement, openness and transparency. In 2008, Tata Steel India became the first integrated steel plant in the world, outside Japan, to be awarded the Deming Application Prize 2008 for excellence in Total Quality Management. In 2012, Tata Steel became the first integrated steel company in the world to win the Deming Grand Prize 2012 instituted by the Japanese Union of Scientists and Engineers.