N Chandrasekaran elected as Chairman Tata Steel Board

N Chandrasekaran, chairman designate of Tata Sons and currently the CEO and Managing Director of Tata Consultancy Services, was today elected as Chairman of Tata Steel Board.

"The Board of Directors today elected N Chandrasekaran as the Chairman of the Board. Chandrasekaran was appointed as a Member of the Board on January 13, 2017," Tata Steel said in a statement today.

On January 17, Tata Motors had appointed Tata group chief designate Chandrasekaran as its Chairman with immediate effect.
Tata Steel Board on November 25 last year had removed ousted Tata Sons chairman Cyrus Mistry as the steel giant's chairman and appointed independent director O P Bhatt in his place.

Earlier on November 11, Tata Steel had said its board took note of the leadership changes at Tata Sons and had received a special notice from the promoter and principal shareholder to convene an Extraordinary General Meeting (EGM) for removal of Mistry and Nusli Wadia as its directors.

Following the elevation of Chandrasekaran as the Chairman Tata Sons, Rajesh Gopinathan was appointed the Chief Executive Officer and Managing Director of TCS effective February 21, 2017, the day Chandrasekaran, the current CEO & MD takes charge at the Tata Group's holding firm.

Chandrasekaran holds a graduate degree in Computer Applications from the Regional Engineering College, Trichy and an under-graduate degree in Applied Sciences from the Coimbatore Institute of Technology, Coimbatore, Tamil Nadu.

Speaking on this occasion, Chandrasekaran acknowledged, "Tata Steel is an iconic company that has stood tall for over a century. The Company has for long provided thought leadership in areas of sustainable business, ethics and stakeholder management. It is built on a unique culture of thinking about society and not just the business. I feel greatly honoured to be chosen as the Chairman and I accept this responsibility with a deep sense of humility."

Announcing other changes in the Board, Tata Steel said its Board of Directors also appointed Peter Blauwhoff as an Additional (Independent) Director. His appointment is effective immediately.

Blauwhoff is a successful international leader with over 30 years of experience in the energy industry, in particular the downstream oil and gas business, it said adding, between 2008 and 2015, Blauwhoff held the position as the Chief Executive Officer of Deutsche Shell Holding GmbH, Hamburg, Germany.

Blauwhoff holds a Doctorate in Technical Sciences and a graduate degree in Chemical Engineering, with honours (cum laude).
Chandrasekaran said, "Blauwhoff brings a wealth of experience to the Board with his knowledge of the global manufacturing industry in general and of the energy, oil and gas business in particular. His induction will enrich the quality of debate and deliberation within our Board."

Blauwhoff said, "Tata Steel is one of the most admired global corporations and I am delighted to be joining the Board. I look forward to working with my colleagues in providing governance, leadership and guidance to further strengthen Tata Steel as a global benchmark in the metals and mining industry."

Also, the company said in accordance with the retirement policy for the Company's Board of Directors (Independent Directors to retire on attaining 75 years), Jacques Schraven, Independent Director, will retire from Board on February 7, 2017. Schraven joined Tata Steel Board in May 2007.

Tata Steel Group stands among the top global steel companies with an annual crude steel capacity of 28 million tonnes per annum (MnTPA) and a turnover of USD 17.69 billion in FY'16.

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