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B Muthuraman, Vice-Chairman of Tata Steel, has stepped down from the board of Tata Steel after a stint of 48 years. He attained the age of 70 years and superannuated as per the company’s retirement policy, said the company in a statement on Friday.
Joining Tata Steel as a graduate trainee in 1966, Muthuraman rose to the rank of Vice-Chairman after holding fort as Managing Director for eight year. During his eventful stint, the company expanded its footprint abroad, with major acquisition, including UK’s Corus Group Plc for $12 billion in 2007.
Currently, the company has a presence in Singapore, Thailand, China, Malaysia, Vietnam, Australia, the UK, France, Germany, the Netherlands and Belgium.
It has a steel making capacity of 10 million tonnes at Jamshedpur, and is setting up a six million tones per annum Greenfield plant in two phases in Odisha.
Established in 1907 as Asia’s first integrated private sector steel company, Tata Steel today is the world’s second-most geographically diversified steel producer, with a turnover of ₹1.51-lakh crore.
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