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New Chairman Takes the Helm at SAIL
06/14/2010 - Steel Authority of India Limited announces that Chandra Shekhar Verma has taken charge of the office of Chairman.
Steel Authority of India Limited (SAIL) announced that Chandra Shekhar Verma has taken charge of the office of Chairman.
Prior to this assignment, Verma (51) was Director (Finance) of Bharat Heavy Electricals Limited (BHEL), India’s largest engineering and manufacturing enterprise in the energy-related/infrastructure sector. Verma helped to strengthen BHEL’s competitive position using prudent financial management and strategic deployment of scarce resources, and also helped to spearhead joint venture initiatives with various state GENCOs. His efforts resulted in the signing of four such agreements with Tamil Nadu, Karnataka, Madhya Pradesh and Maharashtra that would leverage the sale of seven of BHEL’s supercritical thermal power plants. He also played a key role in finalizing various technology agreements with Alstom, Siemens, GE and Sheffield Forgemasters.
Spanning nearly 29 years, Verma’s career profile also includes such positions as Director (Finance) of ITI Ltd., as Group General Manager of Indian Railway Finance Corp., and as General Manager of Delhi Stock Exchange (DSE). His experience also includes about nine years of work in a financial institution.
Fellow Member of the Institute of Company Secretaries of India (FCS) and of the Institute of Cost & Works Accountants of India (FICWA), Verma is a Commerce post-graduate with a Master’s degree in Business Administration and Bachelor’s degree in Law & Legislatures. He has received many awards during his career, including ‘Best CFO Award’ of CNBC-TV 18 in the infrastructure sector for the year 2008-09 and ‘Top Rankers Excellence Award for Best Professional’ for the year 2008. During his tenure in BHEL, the company received the first prize in ‘ICWAI National Award for Excellence in Best Cost Management Practices’.
SAIL, which was recently accorded the status of ‘Maharatna’ by the Government of India, is currently preparing for divestment of 10% of its equity in two tranches and is implementing a Rs. 60,000-crore modernization & expansion plan in its plants and mines.
