Tata Steel’s decision to rejig the roles of two key executives — managing director (India & Southeast Asia) TV Narendran and group executive director and chief finance officer Koushik Chatterjee — is linked closely to its proposed merger with Thyssenkrupp in Europe and the focus to grow aggressively in India.
The company’s board, which met on Monday, elevated Narendran as the global chief executive and managing director, and re-designated Chatterjee as executive director and CFO. While both were previously reporting to the Tata SteelBSE 1.10 % board, Chatterjee will now report to Narendran.
In the fresh scheme of things, Tata Steel has clearly set its sights on India. Tata Sons chairman N Chandrasekaran has said the company has the potential to double its India capacity, which currently is 13 million tonnes.