Essar Steel appoints Mr Prashant Ruia as Managing Director
October 30, 2003
Essar Steel has appointed Mr. Prashant Ruia as Managing Director of Essar Steel Limited. Mr. Ruia has been on the Board of Essar Steel as a Director since 1988. He has been involved in the entire operations and management of Essar Steel. Mr. Ruia was instrumental in company's growth and expansion. Essar Steel expanded its capacity from 2 mmtpa to 2.4 mmtpa. The Company developed of various grades of steel and today it is capable of producing over 300 grades of steel. It has emerged as the largest exporter of HR Coil in the country. He has played a major role in successfully restructuring the financials of the Company. Mr. Ruia is also a Director on the Board of all the major companies of the Essar Group.
Mr Ruia is on the boards of various industrial bodies. He is the Director on the Board of International Iron and Steel Institute, Member on the Board of Steel Committee of Confederation Indian Industry and a Member of Indian Steel Alliance.
Essar Steel has also appointed Mr V G Raghavan as Director - Finance. He has been Chief Financial Officer of the Company for the last five years. Mr. Raghavan is a Chartered Accountant with 35 years of varied experience in Banking. He started his career in State Bank of India.
These appointments have been made at the Company's Board meeting held yesterday. With these appointments, the Board would comprise of the following:
Mr Shashi Ruia - Chairman
Mr Ravi Ruia - Vice Chairman
Mr Prashant Ruia - Managing Director
Mr Vikram Amin - Executive Director.
Mr V G Raghavan - Director - Finance
Mr Jatinder Mehra - Director
Mr S V Venkatesan - Director
Mr Sanjeev Shriya - Director
Mr Jitender Balakrishnan Director, Nominee - IDBI
Mr G A Nayak - Director, Nominee - UTI
Mr G D Goswami - Director, Nominee - ICICI Bank Ltd.
Media contact:
Corporate Communications:
Essar House, 11 K.K.Marg, Mahalaxmi, Mumbai 400034, India
CORPORATE
