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SAIL Board Restructuring Gets ACC Approval

Steel News - Published on Mon, 28 Sep 2020

Image Source: SAIL Board Restructuring
The Appointments Committee of the Cabinet has approved the restructuring of the Board of Steel Authority of India Ltd. The 4 posts of the Chief Executive Officers of Integrated Steel Plants of SAIL are to be elevated as Functional Directors, by designating them as Directors-in- charge of Bokaro, Rourkela, Bhilai and one Director-in-charge jointly for Burnpur and Durgapur steel plants. The approved restructuring of the SAIL Board also involves merging the functions and duties of the post of Director (Raw Materials and Logistics) and that of Director (Projects, and Business Planning) with the post of Director (Technical) and its consequent re-designation as Director (Technical, Projects and Raw Materials). The re-structured Board of Directors of SAIL will consist of Chairman, Director (Finance), Director (Commercial), Director (Technical, Project and Raw Materials), Director (Personnel), Directors in-charge of ISPs, Non-official Directors as per the Companies Act. 2013 and 2 Government Nominee Directors as per the DPE policy.

The release said “The restructuring of the board will facilitate greater de-centralization and nimble decision making with the Directors-in-charge of plants as direct ACC appointees, with their views having weight in the central corporate governance structure. This will also facilitate speedy modernization and expansion program of SAIL.”

This reverses the last board restructuring of 2011, when managing directors at its five plants were replaced with chief executive officers reducing SAIL’s board strength to 18 from 24. SAIL had than said that “The board strength will now be more manageable and will allow faster decision making.”

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Posted By : Yogender Pancholi on Mon, 28 Sep 2020
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