A robust value system guides all our portfolio businesses. Each of our investments are defined and governed by shared regulatory, reputational, and risk standards. In each of the sectors and geographies where we are present, we adhere to globally benchmarked frameworks.
Our governance structure, frameworks, policies, and processes are centered around the following aspects to ensure compliance with the 17 global sustainable development goals:
We conduct our business in a manner that is ethical, transparent, and fair to all stakeholders; our annual performance (link to annual reports) services as public testimony. Each of our portfolio assets adhere to comprehensive governance frameworks, standardised control and risk management processes, and stringent HSE policies. This holds true across sectors and geographies, including those that present high complexities.
Essar’s business structure ensures that a professionally run and independent board decides the matters of their respective businesses. They are responsible for maintaining the highest standards in governance.
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Artem Matyushok currently serves as Senior Managing Director – Strategy and Business Development at Essar Capital. Artem has served as senior executive with major natural resource companies and has 20+ years of experience in the Energy & Natural Resources sector, ranging from the start-up operational environment to the corporate division of a major FTSE 100 company. Artem has done his Masters in Finance from Northern Kentucky University, holds PhD in Economics, is CIMA (UK) qualified as well as a former Shell alumni. While working at Shell he obtained project management and execution skills as well as strong standards in corporate governance. During his commercial carrier he executed over $100bn worth of high profile M&A transactions. He continues to advise companies’ Boards on Decarbonisation initiatives, Energy Transition and brings in-depth knowledge of the Hydrogen economy and its application, particularly in Metals & Mining sector.
Rakesh Kankanala is the Managing Director, Metals and Mining of Essar Capital. An MBA from IIM Lucknow, Rakesh is a qualified Engineer from NIT, and brings with him 13 years of experience. Prior to being the Managing Director at Essar Capital, Rakesh has been at leadership positions in Essar Ports. Earlier on he has worked with TCS in the beginning of his career.
Rajiv Agarwal is the Managing Director & CEO at Essar Ports. He has over 30 years of experience and has held leadership positions in sectors such as Ports, Shipping, Telecom, Retail and Business Processing Outsourcing. He was appointed as MD & CEO of Essar Shipping, Ports & Logistics Limited in 2010.He Joined Essar in 1997 as COO in Essar Telecom and was the Executive Director of Essar Shipping Limited from 1998-2002.
He has been a key member of several industry committees like Confederation of Indian Industries, Federation of Indian Commerce Industries, The Associated Chamber of Commerce & Industry of India and SUPERBRANDS for several years.
Prashant Ruia is a second-generation entrepreneur who belongs to the founding family of Essar Group. Having been inducted into the business at an early age Prashant at 55 is an industry veteran. He has been at the helm of decision making for the Essar Group for more than four decades.
Essar Group is one of India’s largest multinational conglomerates, operating across Energy, Infrastructure, Metals & Mining and Technology & Retail sectors. Essar with an asset base of $9.6 billion, and annual revenues of $15 billion is fast-aligning to the needs of a low-carbon economy and global Net Zero carbon goals by investing in technology and innovation in each of the four sectors where it is present.
Prashant is an active member of the UK India Business Council (UKIBC), Young Presidents Organization (YPO), Confederation of Indian Industries (CII), Entrepreneurs Organization (EO) and a board member in the US-India Strategic Partnership Forum (USISPF).
Shashi Ruia, a first-generation entrepreneur industrialist, has made invaluable contributions to the core industrial and infrastructure sectors in India and has steered Essar to a prominent position in the global industry.
Mr Ruia began his career in the family business in 1965 under the guidance of his father, the late Nand Kishore Ruia. Along with brother Ravi, Shashi Ruia laid the foundation of Essar and spearheaded its business strategy, diversification and growth. Today, Essar Global Fund Limited (EGFL), which owns the businesses the brothers co-founded, is a global investor, owning a number of world-class assets diversified across the core sectors of Energy, Metals & Mining, Infrastructure, Technology and Services. The Fund’s portfolio companies generate aggregate revenues of US $14 billion. These companies operate more than 50 assets spread across the globe, while adhering to international standards of health, safety, environmental protection and corporate governance.
Essar has time and again demonstrated its ability to build and operate world-class assets that have elicited the interest of the best global players. Essar’s portfolio businesses in the Telecom, BPO and Oil & Gas sectors have attracted more than US $40 billion of monetisation proceeds from global majors, like Vodafone, Rosneft, Trafigura and Brookfield.
Shashi Ruia’s vision saw Essar gain a first-mover advantage in many businesses. For example, when the Indian telecom sector was opened up for private participation, Essar was among the first companies to offer mobile telephony services.
Mr Ruia is on several important national bodies and industry associations. He was on the managing committee of the Federation of Indian Chambers of Commerce and Industry (FICCI), an apex body of India’s trade and business associations. He has also been the Chairman of the prestigious Indo-US Joint Business Council and is a former president of the Indian National Shipowners Association (lNSA). Mr Ruia is a member of the PM’s Indo-US CEO’s Forum and India – Japan Business Council
In 2007, Mr Ruia joined an elite list of achievers, which includes the likes of Richard Branson, Peter Gabriel, Ray Chambers, Pam Omidyar, Amy Robbins and Richard Tarlow, who independently fund The Elders. The Elders is a group of world renowned personalities, comprising Desmond Tutu, Graça Machel, Kofi Annan, Jimmy Carter, Li Zhaoxing, Mary Robinson and Muhammad Yunus, who have joined hands to tackle the world’s most difficult problems.
Mr Ruia was also the recipient of the Business India Businessman of the Year Award 2010.
Widely regarded as one of the architects of modem India, Shashi Ruia has a passion for education and mentoring young talent. He is proud of all the employees of Essar who have done well for themselves under his stewardship.
Ravi Ruia belongs to the generation of industrialists who have played a significant role in leading India’s industrial renaissance. An engineer by training, his entrepreneurial abilities have enabled the Essar Global portfolio of companies to become one of the leading names in global industry.
Ravi began his career in the family business and has worked with his elder brother, Shashi Ruia, toward steering the company to its current position of eminence, helping in the consolidation of its businesses and through setting up overseas ventures.
The two brothers, Shashi and Ravi, jointly founded Essar Global Fund Limited (EGFL) as a diversified global private fund exclusively managed by its investment manager, Essar Capital Limited. EGFL is a global investor, controlling a number of world-class assets diversified across the core sectors of Energy (comprising Exploration & Production, Refining & Marketing and Power businesses), Infrastructure (comprising Ports, Terminals and EPC businesses), Metals & Minerals, and Services & Technology (comprising Shipping, Oilfield services and Technology Solutions).
EGFL invests long-term capital into the portfolio companies and holds near 100% stake in all its investments. EGFL invests with a sense of active ownership, which involves direct engagement with the management of the respective businesses. The portfolio companies have aggregate revenues of about USD 13 billion and employ over 7,000 people.
Essar has time and again demonstrated its ability to build and operate world-class assets that have elicited the interest of the best global players. Essar’s portfolio businesses in the Telecom, BPO and Oil & Gas sectors have attracted more than $30 billion of monetization proceeds from global majors, like Vodafone, Rosneft and Trafigura.
Ravi has overseen Essar’s globalization plans, including new ventures in the United States, Africa, South East Asia and the Middle East, and has led several investments and divestments for Essar globally. Ravi was a recipient of the Business India Businessman of the Year Award 2010.
Alok Gupta is the Operating Partner, Technology & Retail, at Essar Capital. With over 32 years of work experience in the technological sector, Alok leads all new capital investment recommendations to the company’s board.He joined Essar as CEO Retail in the year 2010. Subsequently he took responsibility as President – Global Markets & Strategy since 2012 where he was responsible for sales, pricing strategy, marketing, and product & category management for the Steel business.Prior to joining Essar, he has worked with Café Coffee Day and UB Spirits.
Mr Naushad Ansari is Managing Director, Business Development, at Essar Capital. He would be responsible for advising and leading the company with regards all investments and opportunities in the metals & mining sector.
He is an experienced professional and an industry veteran, with 33 years’ experience with Tata Steel and 11 years with Jindal Steel & Power. He is a strong business development professional with a Mechanical Engineering Degree from Aligarh Muslim University.
Madhu Vuppuluri is the Operating Partner, Metals & Mining, Essar Capital. With over 27 years of work experience in diverse industries ranging from Manufacturing (Metals, Mining & Power Generation) to Services sectors (Commercial Airline and Technology, inclusive of Business Process Outsourcing sectors), he provides strategic direction to the management of the Mesabi Portfolio. Madhu’s expertise lies in the area of mergers & acquisition, fund raising, investor relations, and operations management, and leads future capital investment recommendations to Essar Capital’s Board of Directors.
Jatinder Mehra is the Vice Chairman & Operating Partner of Essar Capital. With more than 50 years of experience, he guides Essar through transformations, manages operating functions and leads complex projects.Mr Mehra is involved in various Essar initiatives in areas of Business Strategy, Investments, Corporate Governance, Risk Management and Sustainability.Prior to joining Essar Capital, he lead several reputed public sector and private steel companies, including Steel Authority of India Limited and Rashtriya Ispat Nigam Limited as their Chairman and Managing Director.
Rahul Taneja is the Managing Director, Human Capital at Essar Capital. He is responsible for all HR matters for the Metals & Mining and Services & Technology portfolios.
Rahul is a seasoned professional with more than 28 years of experience specialising in areas of recasting HR and business processes, right sizing and cost optimisation. He also has rich experience in leading change management, cultural transformation, organisational redesign and restructuring. He has held key leadership positions at Jindal Steel & Power Ltd, Jet Airways, Essar and Dell international.
Andrew Wright is the Managing Director, Legal, at Essar Capital. He is responsible to advise and represent the company for all the legal matters concerning the Energy sector investments and portfolio businesses.
Having completed his law degree from the University of Leeds, United Kingdom, Andrew has over 25 years of rich experience.