The re-appointment of TV Narendran as the global Managing Director and Chief Executive Officer (CEO) for the ensuing five years was approved by Tata Steel Limited shareholders, the business reported in an exchange filing. The resolution to re-appoint Narendran for the following five years was approved by 99.47% of all shareholders present at the meeting, the business said.
The company earlier last month based on the recommendation of the Nomination and Remuneration Committee said, “The Board considered and unanimously approved the re-appointment of TV Narendran as the Chief Executive Officer and Managing Director of the Company for a further period of five years effective September 19, 2023 through September 18, 2028, not liable to retire by rotation."
Narendran is in charge of directing the company's inorganic and organic growth as the CEO and MD of Tata Steel. As soon as the approval is given, Narendran will stay on the board of Tata Steel Limited and continue to lead Tata Steel Europe, Tata Steel Long Products Ltd., and the board of governors at XLRI Jamshedpur.
As chairman of Tata Steel Europe, the Supervisory Board of Tata Steel Nederland BV, Tata Steel Long Products Limited, and Neelachal Ispat Nigam Limited, Narendran will also continue in these roles.