Essar Steel rejigs board by inducting more professionals
In order to strengthen its governance practices, the Ruias of Essar group are restructuring Essar Steel's board by inducting more professionals, Business Standard reported.
The company is in talks with Hirco Developments' chairman and managing director Firdose Vandrevala to join its board in executive position. Earlier, Vandrevala was on the board of Tata Steel and had worked in other Tata group companies in key positions.
The Essar group has already inducted Arvind Pande, former chairman and managing director of Steel Authority of India Ltd on its board. Others who joined the Essar Steel board in non-executive positions include Alok Dhir, a financial expert, S Santhanakrishnan, former deputy managing director of State Bank of India, and Rana Som, former chairman and managing director of NMDC. In April, Ashutosh Agarwala from Jindal Power & Steel had joined the company as an additional director and chief financial officer.
Read the complete Business Standard report