Tata Steel Europe selects UK CEO to oversee divestment

Jha’s experience will be invaluable as Tata Steel Europe explores strategic alternatives for its UK operations

Tata Steel Europe has appointed Bimlendra Jha as chief executive of Tata Steel UK as it explores strategic alternatives for its operations in the UK.

Jha is currently executive chairman of Tata Steel Europe’s Long Products business and led the divestment process that resulted in the signing of a Sale and Purchase Agreement with Greybull Capital on 11 April.

Koushik Chatterjee, group executive director of Tata Steel, said: “Bimlendra’s successful experience of the process of divestment of Long Products Europe will be invaluable as Tata Steel Europe explores strategic alternatives for its operations in the UK.

“He will be supported by a team with immense operating experience of the UK business. To deliver greater clarity for all key stakeholders such as employees, customers and suppliers, it is important for the new team to seek all credible options in a time bound manner.”

Tata Steel Europe has also appointed Standard Chartered bank as an additional adviser to reach potential buyers, especially to Asia and the Far East.  They will work alongside KPMG, whose appointment was announced on 11 April.

In the past seven days, the advisers have begun initial exploration of interest in Tata Steel’s UK operations reaching out to 190 potential financial and industrial investors worldwide.