T V Narendran is first Tata Steel global MD

Koushik Chatterjee reappointed ED & CFO, will now report to MD

T V Narendran has become the first global managing director and chief executive officer (MD and CEO) of Tata Steel Limited, the company said on Tuesday.

The company informed the stock exchanges that the board of directors of Tata Steel, at its meeting held on Monday, had decided to elevate the 52-year-old MD of India and South East Asia. 

“During his tenure in the last four years (since November 2013), Tata Steel has successfully executed and commissioned one of the largest greenfield projects in India — the Kalinganagar steel plant and also enhanced its ability to deliver to higher value segments like steel for automobiles,” the company stated.

Narendran, who joined Tata Steel in 1988, was also actively involved in Tata Steel’s first overseas acquisition, NatSteel, and took over as its president and CEO in January 2008.

The Tata Steel notice added Koushik Chatterjee was reappointed executive director and chief financial officer for five years, with effect from November 9, 2017, after his term expires on November 8, 2017. Prior to the reappointment, Chatterjee was group executive director (finance, corporate & Europe). 

In his new role, Chatterjee would report to Narendran. In 2013, Tata Steel had put a leadership structure in place to “accomplish strategic business objectives”. The structure was essentially that Tata Steel Europe MD & CEO Karl Koehler, Tata Steel (India and South East Asia) MD Narendran, and Group Executive Director (finance and corporate) Koushik Chatterjee would report to the chairman and board of Tata Steel. 

In 2016, when Koehler stepped down as director of Tata Steel and CEO and MD of Tata Steel Europe, Chatterjee was given the additional charge of Europe. 

The current move, however, is aimed at consolidating the structure. A company spokesperson said, “Tata Steel Limited is well poised to leverage growth opportunities in India as well as the global resurgence in steel demand. The well-sustained ramp up of the Kalinganagar operations and the recent restructuring of the European operations have led to this decision to consolidate the apex leadership team.”

Tata Steel Europe CEO Hans Fischer, working under the guidance of Chatterjee, will now report to Narendran.

In the past month, Tata Steel has managed to resolve some of its problems in Europe, namely close the British Steel Pension Scheme, and move from a defined benefit scheme to a defined contribution scheme, de-risking future cash flows. A memorandum of understanding has also been signed between Tata Steel and ThyssenKrupp to create a joint venture that would be a strong number two flat steel maker in Europe, after ArcelorMittal.

NARENDRAN'S ACHIEVEMENTS

• Executed and commissioned Kalinganagar, one of the largest greenfield projects in India

• Actively involved in Tata Steel’s first overseas acquisition, NatSteel and took over as president and CEO 

• Experience spanned across marketing & sales, international trade, supply chain & planning and operating & general management