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Tata Steel appoints two independent Board of Directors

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Jamshedpur, March 30: Tata Steel Limited today announced the appointment of Aman Mehta as Additional (Independent) Director with immediate effect and appointment of Deepak Kapoor as an Additional (Independent) Director of the Company effective April 1, 2017.

The appointments are based on the recommendations of the Nomination and Remuneration Committee, the Board of Directors unanimously approved.

Aman Mehta, an economics graduate from Delhi University has over 39 years of experience in various positions with the HSBC Group from where he retired in January 2004 as CEO Asia Pacific.

Mehta has extensive experience in the field of Banking/ Finance and has a proven track record of successfully managing large multinational enterprises.

Mehta occupies himself primarily with Corporate Governance, Board and Advisory Roles in a range of global manufacturing and technology companies such as Cairn India and Tata Consultancy Services.

Formerly, he has been a Member of the Supervisory Board of ING Group NV and a Director of Raffles Holdings, Singapore. He is also a Member of the governing board of the Indian School of Business, Hyderabad and a Member of the International Advisory Board of Prudential of America.

Deepak Kapoor, former Chairman of PwC India, has been associated with it for over 30 years. He was named Partner in 1991 and was the Managing Director between 2007 and 2016. As member of PwC’s India Leadership Team, Kapoor served in various leadership and client service roles.

He has led deals for more than eight years and the practice in the area of Telecom, Entertainment and Media for over ten years. Kapoor successfully steered the firm during very challenging times and has strengthened the firm’s footprint in India. Mr. Kapoor has extensive experience in the audit function as well as business advisory related work.

His experience, in India and overseas, encompasses multiple industries including consumer products, manufacturing, telecom, technology, healthcare, entertainment and media.

A meritorious Commerce Graduate from Delhi University (third rank holder), Kapoor is a Fellow Member of Institute of Chartered Accountants of India (ICAI), Fellow Member of Institute of Company Secretaries of India and a Member of the Institute of Certified Fraud Examiners, USA.

Welcoming Mehta and Kapoor, N. Chandrasekaran, Chairman of the Board, said, “I am delighted to welcome Aman Mehta and Mr. Deepak Kapoor to our Board. I am confident that the Board will immensely benefit by their knowledge and rich experience. Both are globally recognized and respected corporate leaders. The Board Members are excited and look forward to working with Aman and Deepak.”

In accordance with the retirement policy for the Company’s Board of Directors (Independent Director(s) to retire on attaining 75 years of age), Subodh Bhargava, Independent Director, retires from the Board effective today, i.e., March 29, 2017. Bhargava joined the Tata Steel Board in May 2006.

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