Tata Steel CEO and Managing Director T V Narendran has stepped down as President of the Indian Steel Association (ISA) months before the end of his term, according to the steelmaker. An ISA President is elected for two years and Narendran's tenure was to end in August this year.
Confirming the development, a Tata Steel spokesperson said, "Tata Steel has withdrawn its membership from the Indian Steel Association (ISA) owing to various considerations. Accordingly, Mr T. V. Narendran, CEO & MD, Tata Steel, has stepped down from his position as the incumbent President, ISA."
An ISA official also confirmed the development but said the reason for his resignation is not known yet.
Leading steelmakers such as JSW Steel Ltd, Steel Authority of India Ltd (SAIL), Rashtriya Ispat Nigam Ltd (RINL), Jindal Steel And Power Ltd (JSPL) and ArcelorMittal Nippon Steel Ltd are members of the ISA.
Narendran is also a member of the Executive Committee of the global body World Steel Association (worldsteel).