Essar Steel Appoints New Chief Financial Officer
04/04/2013 - Essar Steel India Limited has appointed Mr. Ashutosh Agarwala as director — finance and chief financial officer.
Essar Steel India Limited has appointed Mr. Ashutosh Agarwala as director — finance and chief financial officer.
Mr. Agarwala is a chemical engineer from the Institute of Technology-Benaras Hindu University, with post-graduate work in management at the Indian Institute of Management, Bangalore (IIM-B) with specialization in finance and strategy.
He has more than 24 years of experience in the fields of finance, strategy, and mergers and acquisitions. He has a consistent track record of successfully completing a wide spectrum of noteworthy transactions in the areas of mergers and acquisitions as well as debt and equity capital-raising for infrastructure development.
Commenting on the appointment, Mr. Dilip Oommen, CEO and MD, Essar Steel said, “Mr. Agarwala joins a strong team of professionals at Essar Steel. His experience in varied fields will be an asset to the company as he is joining us at a crucial juncture when the company is in its next phase of growth.”
On joining Essar Steel, Mr. Agarwala said, “Essar has been instrumental in successfully building and operating large-scale businesses. It is my pleasure to get an opportunity to work with this entrepreneurial organization and contribute to its ongoing efforts to create value."
Mr. Agarwala joins Essar Steel from Jindal Steel & Power Limited, where he held the position of chief financial officer and director finance, for the steel and cement business. During his career, he has held senior leadership positions with established companies like ICICI Bank, Nagarjuna Fertilizers, Aditya Birla Group and GMR Infrastructure.
Essar Steel, a global producer of steel, is a fully integrated flat carbon steel manufacturer—with presence in Canada, the U.S., India, UK, Middle East and Indonesia. It is a versatile flat steel producer with integrated facilities from extra wide plates, hot rolling, cold rolling, galvanizing and color coating, pipes with a full distribution business with service center and Steel Hypermarts. Essar Steel has a global steel production capacity of 14 million tonnes per annum. It operates seven service centers in India, Indonesia and Canada, with an aggregate capacity of over 5 million tonnes. Essar has a large network distribution channel with over 375 branded Essar Hypermarts. Its products find wide acceptance in highly discerning consumer sectors such as automotive, white goods, construction, engineering and shipbuilding.
