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Corus Announces New Chief Executive
01/09/2009 - Tata Steel’s Board appoints Kirby Adams, Founding Managing Director and former Chief Executive of Australia’s BlueScope Steel, to succeed Philippe Varin as Chief Executive Officer of Corus and of Tata Steel Europe.
Tata Steel’s Board has appointed Kirby Adams to succeed Philippe Varin as Chief Executive Officer of Corus and of Tata Steel Europe, the holding company of Tata Steel’s European operations.
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Philippe Varin has served as CEO of Corus for the past six years, during which time he led the company’s turnaround.
At the time of Tata Steel’s acquisition of Corus in 2007, Varin had agreed to continue as Chief Executive for at least two years. From that time, he has worked closely with Tata Steel Managing Director B. Muthuraman to successfully integrate Corus and Tata Steel.
Varin, who has now met his commitment to Tata Steel, is stepping down on April 6, 2009. He will continue to serve as a non-executive Director on the Boards of Tata Steel Europe and Tata Steel in order to ensure a smooth transition for Corus.
“I pay tribute to Philippe Varin for his outstanding contribution as Chief Executive of Corus and welcome Kirby Adams to an exciting and challenging assignment,” said Ratan Tata, Chairman of Tata Steel.
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Kirby Adams, an international chief executive with a proven ability to create substantial shareholder value in complex businesses, brings a wealth of experience in metals and mining to his new appointment. He was the Founding Managing Director and Chief Executive of Australia’s BlueScope Steel from 2002 to 2008, and served as President and CEO of BHP Steel, Melbourne, from 2000 to 2002.
Adams served in a range of executive positions at BHP Limited, Melbourne (1995-1999). He has also served as President and CEO of Titanium Metals Corp. (TIMET), Pittsburgh/Denver (1989-1995); in a series of leadership roles at NL Industries Inc., Houston / New York City (1981-1989); and as Head of Strategy at Armco Inc.’s National Supply Division, Houston (1979-1981).
Adams served as a board member of the Business Council of Australia from 2002-2007 and is a former Chairman and Vice-Chairman of the International Iron and Steel Institute on which he served from 2000-2007. He received the Institute’s IISI Silver medal for steel industry safety leadership and is also a former Chairman of the Titanium Development Association.
Adams, 53, holds joint USA/Australian citizenship. Born in Atlanta, Ga., he graduated from Auburn University with a BS in industrial and mechanical engineering, later earning an MBA at the University of Virginia.
Adams will re-locate to London from early March 2009, where he will report to Tata Steel Managing Director B. Muthuraman. He also will join the Boards of Tata Steel Europe and Tata Steel, subject to necessary approvals.
Corus is Europe's second-largest steel producer with annual revenues of more than £12 billion and crude steel production of about 20 million tonnes. With main steelmaking operations primarily in the UK and the Netherlands, Corus provides innovative solutions to the construction, automotive, packaging, mechanical engineering and other markets worldwide.
Corus is a subsidiary of Tata Steel, the world's sixth largest steel producer. Following the acquisition of Corus, the combined enterprise has an aggregate crude steel capacity of more than 28 million tonnes and approximately 82,700 employees across four continents.
