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Our Bureau

Mumbai, Aug. 16

Mr Kumar Mangalam Birla, Chairman of Aditya Birla Group, on Wednesday stepped down from the board of directors of Tata Steel Ltd. Mr Birla was on Tata Steel's board since 1998.

He took the decision to step down from the board primarily because of its commitment as member on the board of Reserve Bank of India. Due to his increased commitments as RBI board member, he was "unable to invest sufficient time" on the boards of Tata Steel and Maruti, a spokesperson of the Birla Group said.

Recently, Mr Birla had resigned from the board of Maruti, on which he was a director since July 2003. There were reports that the decision was an upshot of the partying of ways by Birlas and Tatas from the Idea Cellular venture, which resulted in the Birlas buying out the entire Tata stake. Mr Birla is also on the board of London Business School, apart from holding other posts like the chairman of the Board of Trade constituted by the Ministry of Commerce.

More Stories on : People | Steel | Tata Steel Ltd

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