New CEO for Corus

The Board of Tata Steel has appointed Kirby Adams to succeed Philippe Varin as CEO of Corus and of Tata Steel Europe, the holding company of Tata Steel’s European operations. Varin is stepping down on April 6, 2009, after six years in the role.

American-born Adams was formerly chief executive of BlueScope Steel, headquartered in Melbourne, Australia. He has also served as chairman of the International Iron and Steel Institute and has considerable international experience in the metal and mining industry. He will join the Boards of Tata Steel Europe and Tata Steel, subject to necessary approvals. Once Adams has obtained the necessary visa, he will re-locate to London and commence working from early March 2009. Adams will report to Tata Steel managing director B. Muthuraman.

When Tata Steel acquired Corus, Varin had agreed to continue as chief executive for at least two years. Now that he has met his commitment, he has decided to seek a new challenge. In order to ensure a smooth transition of executive leadership in Corus, Varin will continue to serve on the Boards of Tata Steel Europe and Tata Steel as a non-executive director.

“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.