Bhushan Steel Ltd, acquired by Tata Steel has approved the appointment of T V Narendran as Chairman and Non-Executive Additional Director of the Company. Prior to this new role Narendran has been Global CEO and Managing Director of Tata Steel.
Narendran joined Tata Steel in 1988 and was actively involved in Tata Steel’s first overseas acquisition, NatSteel, and took over as its president and CEO in January 2008. He is Graduate Mechanical Engineer from National Institute of Technology, Tiruchirappalli and earned PGDM-Marketing & Finance from Indian Institute of Management, Calcutta. He has more than 30 years of experience in metal and mining industry.
“The Board of Directors at their meeting held on 11th July 2018 approved appointment of T V Narendran as Chairman and Non-Executive-Additional Director and Koushik Chatterjee as Non-Executive-Additional Director with effect from July 11,” the company said in a statement.
On May 18, Tata Steel which had won the bid for Bhushan Steel in an insolvency process completed the acquisition of 72.65 per cent stake in the debt-laden firm. Lenders to Bhushan Steel also received 7.25 crore equity shares worth Rs 2 each, after conversion of Rs 14.5 crore worth loans in the company.
Courtesy and Inputs -PTI