New Millennium Iron Announces Retirement of Director, Appointment of New Board Member
12/12/2013 - New Millennium Iron Corp. (NML) announced that Mr. Hemant Nerurkar, formerly managing director of Tata Steel Limited, Jamshedpur, India, recently resigned as a director of the corporation.
Mr. Nerurkar retired from Tata Steel on 31 October 2013.
Lee Nichols, non-executive chairman of NML, commented, “New Millennium thanks Mr. Nerurkar for his many contributions since his joining the Board in 2009, especially in the creation of the joint venture between NML and Tata to develop and build the Direct Shipping Ore Project near Schefferville. Mr. Nerurkar also was a key figure in the agreement between Tata Steel and NML under which Tata Steel is considering development of the Taconite Project and supporting NML in financing the feasibility study for the project. His tenure on the board brought sound advice to NML’s operations and strategic planning. We wish Mr. Nerurkar all the best in his well-deserved retirement and future endeavors.”
Mr. Koushik Chatterjee has been appointed to the NML Board as successor to Mr. Nerurkar. He was appointed as group executive director - finance and corporate, including responsibility for the Global Minerals business of Tata Steel, effective 1 November 2013, after a series of increasing responsibilities in the Tata organization.
Mr Nichols commented, “NML is delighted to have Mr. Chatterjee join our board. Along with expertise in the steel and iron ore industries, he brings to our Board a deep understanding of global capital markets and corporate finance as well as relationships with leading financial institutions worldwide. These attributes will be instrumental as NML continues to develop the Taconite Project in conjunction with Tata Steel.”
Mr. Chatterjee, born in 1968, is an Honors Graduate in Commerce from Calcutta University and a Fellow Member of the Institute of Chartered Accountants of India. He joined Tata Steel in 1995. During his stint in the company, he worked in the areas of corporate finance and planning. During the years 1996–1998, he was also a visiting faculty at XLRI, Jamshedpur, in Corporate Finance. In 1998 he was transferred to the Tata Steel Head Office in Mumbai and subsequently to Tata Sons Limited in the Group Executive Office (GEO). He became general manager – corporate finance in Tata Sons in 2002. During his tenure in Tata Sons Limited, he was involved in mergers & acquisitions’ activities including privatization and joint ventures.
Mr. Chatterjee re-joined Tata Steel on 1 August 2003 and was appointed the vice president (finance) beginning 1 August 2004. With the announcement of the new Tata Steel Group post the acquisition of Corus, Mr. Chatterjee was appointed as group chief financial officer beginning 1 January 2008. He took on overall responsibility for group financial reporting, investor relations, financing strategy including debt and equity raising, corporate M&A, risk management and compliance, taxation strategy and planning and coordination of statutory and management reporting. In November 2012, he was elevated to the Board of Tata Steel and appointed as executive director and group CFO. Recently, he has been appointed as the group executive director (finance and corporate). In addition to leading the company’s finance function, Mr. Chatterjee is also responsible for the Tata Steel Group Corporate functions including legal and regulatory affairs, corporate communications, strategic procurement, information systems, group investments, global mining projects and assurance.
He is on the Board of several Tata Steel Group companies in India and abroad, including Tata Steel Ltd, Tata Steel Europe Ltd, NatSteel Asia Pte. Limited, Tata Steel (Thailand) Public Company Limited, and various other Tata Steel subsidiary companies.
Mr. Chatterjee was declared one of India’s best CFOs by Business Today Magazine in 2005 and 2006 and by CNBC in 2007. He is also a frequent speaker in various conferences in India and abroad including the McKinsey Global CFO Forum, Economist Conferences and CII organized conferences. He is also a member of the International Integrated Reporting Council.
Lee Nichols, non-executive chairman of NML, commented, “New Millennium thanks Mr. Nerurkar for his many contributions since his joining the Board in 2009, especially in the creation of the joint venture between NML and Tata to develop and build the Direct Shipping Ore Project near Schefferville. Mr. Nerurkar also was a key figure in the agreement between Tata Steel and NML under which Tata Steel is considering development of the Taconite Project and supporting NML in financing the feasibility study for the project. His tenure on the board brought sound advice to NML’s operations and strategic planning. We wish Mr. Nerurkar all the best in his well-deserved retirement and future endeavors.”
Mr. Koushik Chatterjee has been appointed to the NML Board as successor to Mr. Nerurkar. He was appointed as group executive director - finance and corporate, including responsibility for the Global Minerals business of Tata Steel, effective 1 November 2013, after a series of increasing responsibilities in the Tata organization.
Mr Nichols commented, “NML is delighted to have Mr. Chatterjee join our board. Along with expertise in the steel and iron ore industries, he brings to our Board a deep understanding of global capital markets and corporate finance as well as relationships with leading financial institutions worldwide. These attributes will be instrumental as NML continues to develop the Taconite Project in conjunction with Tata Steel.”
Mr. Chatterjee, born in 1968, is an Honors Graduate in Commerce from Calcutta University and a Fellow Member of the Institute of Chartered Accountants of India. He joined Tata Steel in 1995. During his stint in the company, he worked in the areas of corporate finance and planning. During the years 1996–1998, he was also a visiting faculty at XLRI, Jamshedpur, in Corporate Finance. In 1998 he was transferred to the Tata Steel Head Office in Mumbai and subsequently to Tata Sons Limited in the Group Executive Office (GEO). He became general manager – corporate finance in Tata Sons in 2002. During his tenure in Tata Sons Limited, he was involved in mergers & acquisitions’ activities including privatization and joint ventures.
Mr. Chatterjee re-joined Tata Steel on 1 August 2003 and was appointed the vice president (finance) beginning 1 August 2004. With the announcement of the new Tata Steel Group post the acquisition of Corus, Mr. Chatterjee was appointed as group chief financial officer beginning 1 January 2008. He took on overall responsibility for group financial reporting, investor relations, financing strategy including debt and equity raising, corporate M&A, risk management and compliance, taxation strategy and planning and coordination of statutory and management reporting. In November 2012, he was elevated to the Board of Tata Steel and appointed as executive director and group CFO. Recently, he has been appointed as the group executive director (finance and corporate). In addition to leading the company’s finance function, Mr. Chatterjee is also responsible for the Tata Steel Group Corporate functions including legal and regulatory affairs, corporate communications, strategic procurement, information systems, group investments, global mining projects and assurance.
He is on the Board of several Tata Steel Group companies in India and abroad, including Tata Steel Ltd, Tata Steel Europe Ltd, NatSteel Asia Pte. Limited, Tata Steel (Thailand) Public Company Limited, and various other Tata Steel subsidiary companies.
Mr. Chatterjee was declared one of India’s best CFOs by Business Today Magazine in 2005 and 2006 and by CNBC in 2007. He is also a frequent speaker in various conferences in India and abroad including the McKinsey Global CFO Forum, Economist Conferences and CII organized conferences. He is also a member of the International Integrated Reporting Council.
