Mumbai: Tata Steel Ltd has said that the chief executive of its Corus unit, Philippe Varin, has resigned and Kirby Adams, a former CEO of Bluescope Steel, would replace him.
Varin had agreed to stay on as CEO of Corus for two years when Tata Steel bought the Anglo-Dutch steelmaker in 2007, the company said in a statement late on Thursday.
The statement further said that he has met his commitment and has decided to seek a new challenge.
The acquisition had made Tata Steel the world’s sixth-largest steel maker with an annual capacity of more than 28 million tonnes.
Varin will continue to serve on the boards of Tata Steel Europe and Tata Steel as a non-executive director, the company said.