Mumbai, November 1, 2017
Tata Steel Ltd has promoted TV Narendran as CEO and Managing Director of Tata Steel Ltd globally. A press release by the company stated that the decision was taken in a Board of Directors meeting held on 30 October, 2017. The board also re-appointed Koushik Chatterjee as Executive Director and CFO for a period of five years after his present term expires. Chatterjee would report to TV Narendran.
Narendran was the MD (India and South East Asia region) since 2013. For the four years that he was the MD, Tata Steel has successfully executed and commissioned one of the country’s largest greenfield projects in Kalinganagar, enhancing its ability to deliver higher value segments like steel for automobiles.
According to a report by Economic Times, the company’s decision to promote the key executives comes amidst the proposed merger with German major Thyssenkrupp, with a focus to grow aggressively in Europe and India.
Until 2016, Karl Kohler was the CEO and MD of Tata Steel Europe after which Chatterjee was given a bigger role. The move gives TV Narendran a bigger role, although it is predicted by the report that it will last only until a new joint venture is formed between Tata Steel and Thyssenkrupp. The merger is said to create Europe’s second largest steelmaker after ArcelorMittal.
Narendran has had expertise in several departments of Tata Steel’s business namely Marketing and Sales, International Trade, Supply Chain and Planning, and Operation and General Management. He joined Tata Steel in 1988 after completing his MBA from IIM Calcutta.