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New Leadership Team at Tata Steel assumes office

Jamshedpur, November 01, 2013
  • Mr. T V Narendran assumes office as the new Managing Director of Tata Steel, India and South East Asia
  • Mr. Koushik Chatterjee assumes his new responsibilities as Group Executive Director (Finance and Corporate)

The new leadership team at Tata Steel today assumed office with their new responsibilities. Mr. T V Narendran took office as the new Managing Director, Tata Steel, India and South East Asia, while Mr. Koushik Chatterjee presided over his new responsibility of Group Executive Director (Finance and Corporate), Tata Steel.

Mr. T V Narendran was inducted in his new position in place of the outgoing Managing Director, Mr. H M Nerurkar, who reached his superannuation on 31st October, 2013. The appointment of the new leadership structure at Tata Steel is a part of its drive to accomplish its strategic business objectives.

Speaking on the occasion, Mr. T V Narendran, MD Tata Steel said, 'The leadership at Tata Steel is in a transition phase and we are confident of completing this successfully with the support of our entire staff.' While thanking Mr. H M Nerurkar, Outgoing- MD Tata Steel, he said, 'It's been a wonderful experience working under the aegis of Mr. Nerurkar who has driven the company to greater heights and we look forward to his continued valuable support. I also thank Mr. Cyrus Mistry, Chairman, Tata Steel and the Board Members for bestowing me with the responsibility which I accept with all humility and look forward to fulfilling it with the support of each member of the Tata Steel family.'

Speaking to the media in a press conference at the Jamshedpur Tata Steel Plant, Mr. Koushik Chatterjee, Group Executive Director, Finance and Corporate, said 'We at Tata Steel have a long heritage of creating value for our stakeholders and will continue to do the same with their continued support. Tata Steel's performance has been robust in spite of challenges and we will deliver across all our projections especially the upcoming Kalinganagar project which remains our priority.' He added, 'I am humbled with the challenging role offered and look forward to working with our media friends and other stakeholders in this new role at Tata Steel.'

The Board has put in place an 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.

About Tata Steel
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.