Tata Steel rejigs top deck: At 48, TV Narendran is youngest company MD
The Board of Tata Steel, on Thursday, appointed T V Narendran as Managing Director designate, India and South East Asia, inducting him into the board as an additional director. He will succeed H M Nerurkar, the present Managing Director, who reaches superannuation on October 31, 2013.<br /><br />
The Board of Tata Steel, on Thursday, appointed T V Narendran as Managing Director designate, India and South East Asia, inducting him into the board as an additional director. He will succeed H M Nerurkar, the present Managing Director, who reaches superannuation on October 31, 2013.
Thenew leadership structure is part of its drive to accomplish its strategic business objectives.
Narendran, who is Vice President (Safety and Flat Products), joined Tata Steel in 1988 after completing MBA from the Indian Institute of Management, Calcutta.
"On reaching superannuation on October 31, 2013, H M Nerurkar, MD, Tata Steel India and South-East Asia, will step down from the Board and will be succeeded by T V Narendran from November 1, 2013," the company said in a statement.
Narendran will be MD-designate, India and South-East Asia, and will be part of the company's board as an additional director until Nerurkar's retirement.
A Business Standard report says at 48, Narendran will be the youngest MD Tata Steel has ever had. Narendran, inducted as an additional director, was being groomed for the top job, according to officials close to the development.
The company also promoted Koushik Chatterjee, currently Executive Director and group CFO, as Group Executive Director (Finance and Corporate). He has been entrusted with additional responsibilities, including Tata Steel's group corporate functions, global mining projects, strategic procurement and corporate communications.
Besides Narendran and Chatterjee, MD and CEO of Tata Steel Europe Karl Koehler will report to Chairman Cyrus Mistry from November 1.
"The new leadership will be responsible for defining the overall direction and strategy for Tata Steel across both its emerging and developed markets," the company said.
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