ACC approves restructuring of SAIL Board; here’s what will change

• The Appointments Committee of the Cabinet (ACC) has approved the restructuring of the board of Steel Authority of India (SAIL)

• The SAIL board has been given more power to bring efficiency and decentralisation after restructuring

New Delhi: The Appointments Committee of the Cabinet (ACC) has approved the restructuring of the Board of Steel Authority of India Limited (SAIL). The four posts of the Chief Executive Officers (CEOs) 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 two Government Nominee Directors as per the DPE policy.

Also read: SAIL achieves highest ever July sales, up by 50%

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.

SAIL has a vision of reaching 50 Million Tonnes of capacity through brownfield/greenfield expansion and this input has also been considered while formulating the National Steel Policy 2017, having the vision of 300 Million Tonnes capacity in the country by 2030-31. Directors as in-charge of ISPs would in turn be critical in having the corporation respond with agility in a globally challenging environment.

ACC has also approved these three board level appointments consequent to the restructuring of SAIL Board:

Anirban Dasgupta, who is currently serving as incumbent Director (Project & Business Planning) has been appointed as Director in-charge of Bhilai Steel Plant (BSP) as a one-time exception, for the period until completion of his initial term of 5 years as Director (Project & Business Planning) i.e. up-to January 31, 20025 or till the date of superannuation, or until further orders, whichever is earlier.

Amarendu Prakash has been appointed as Director in-charge of Bokaro Steel Plant (BSP), as a one-time exception, for a period of five years from the date of assumption of the charge of the post, or till the date of superannuation, or until further orders, whichever is earlier. Prakash is currently serving as General Manager in the company and was recommended for the post of Director (Raw Materials & Logistics) by the PESB panel on February 3, this year.

Harinand Rai, who is currently serving as incumbent Director (Technical), has been appointed as Director (Technical, Projects and Raw Materials) as a one-time exception and up-to-the-date of his superannuation i.e. April 4, 2022, or until further orders, whichever is earlier.

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