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P Ramnath, CEO, Sterlite Copper, has retired in the midst of the ongoing controversy surrounding the company’s copper smelter at Thoothukudi in Tamil Nadu. The plant has remained shut since last May following allegations of environmental pollution.
Ramnath, who has helmed the company’s operations over the last eight years, said: “I have now retired from the services of Sterlite Copper after a very personally satisfying tenure. However, my contribution and support to Sterlite will continue in my new role as Senior Advisor with the organisation.”
After superannuation, Ramnath was on an extension for nearly four years, said sources.
Pankaj Kumar, an industry veteran, has been named the new CEO. For Kumar, who has worked with companies such as Hindustan Zinc and Tata Steel, this will be the second innings at Sterlite Copper.
On May 28, the Tamil Nadu government ordered the Tamil Nadu Pollution Control Board to seal and permanently close Sterlite’s smelter following a massive protest that led to police firing and the consequent death of at least 13 people.
Following the development, the company approached the National Green Tribunal (NGT), which, in December last year, dismissed the Tamil Nadu government’s order and directed reopening of the smelter.
However, the company’s relief proved short-lived as the Supreme Court, in February, set aside the NGT order saying that the tribunal did not have jurisdiction over the matter.
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