Shyam Metalics, a leading manufacturer of ferroalloys that quite recently got fully integrated into metal production, has appointed Mr. Chandra Shekhar Verma as an independent director. Mr. Verma has conducted his career well and has overtaken four decades’ worth of public sector undertakings (PSU) in steel production and steel policy. Verma stands tall as a distinguished professional in management, pushing his techno-commercial capabilities combined with maintained leadership and a high-impact role in discipline with leading reputed corporate institutions across multiple sectors.
Professional background and experience
Mr. Verma is genuinely recognized for his remarkable services, which were provided during his tenure as the Chairman and Managing Director (CMD) at Steel Authority of India Limited (SAIL) from June 2010 to June 2015. During his tenure, SAIL achieved remarkable milestones, including historical capacities, strategic partnerships, and international footprints. Additionally, he held the additional charge of CMD of the National Mineral Development Corporation (NMDC) and the post of Chairman of International Coal Ventures Private Limited (ICVL), respectively.
Mr. Verma’s contributions have been widely appreciated, and he has been felicitated with many national and international awards. Mr. Verma was awarded ‘CEO of the Year’ by Platts Global Metals Awards in memory of JRD Tata, particularly the IIM JRD Tata Award of Excellence in Corporate Leadership in Metallurgical Industries, to name a few. He has been the first President of the Indian Steel Association, Chairman of the National Committee of Steel of the Confederation of Indian Industries (Cii), and a Member of the CSIR Society appointed by the Prime Minister of India. In addition, he has served as a board member of the World Steel Association and a council member of the Indian Institute of Metals. He has been a member of the Board of Governors and the Society of the Indian Institute of Management (IIM) in Raipur.
His educational attainments count M.Com. (Master of Commerce), MBA (Master of Business Administration), FICMA (Fellow Member of the Institute of Cost Accountants of India), FCS (Fellow Member of the Institute of Company Secretaries of India), 1st position in order of merit in Patna University from the Faculty of Commerce in 1990, LLB (bachelor’s in law and Legislatures), and several professional memberships from free professional bodies.
Role at Shyam Metalics
Apart from his rigorous background as a leader, businessman, and visionary manager, Verma would also join the strategic advisory board of Shyam Metlis, the primary decision-making body, taking over as an independent director in August 2021. Delighted with his new role and with the esteem of the Shyam Metalics Directorial Board, Mr. Verma said, “I am honored to associate with the Shyam Metalics esteemed board. Looking at their track record as market leaders, I am excited to add to the company’s growth while contributing to the important decision-making process. I look forward to being part of the team working towards the continued growth of the company.”
The company continues its focus on hiring the best talent and professionalizing the organization. “It’s critical for us to ensure we have the right leadership in place as the company enters the next stage of its growth. We are excited to welcome Mr. Chandra Shekhar Verma to our team at Shyam Metalics,” said Mr. B. Bhushan, Vice Chairman, and Managing Director of Shyam Metalics and Energy Ltd. “Shyam Metalics is invested in attracting and retaining the most experienced professionals in all our markets as we look to lead and transform the industry. We have been very competitive in the market, and I trust that Mr. Verma will continue to drive our ongoing success with his vast experience and guidance.”
Strategic Impact
The appointment of Mr. India is expected to have a positive impact on the market positioning of Shyam Metalics companies. Besides that, Verma’s experience in the steel industry and her proven commitment to achieving high targets will be a major asset for Shyam Metlis. The company expects Mr. Verma to deliver fresh perspectives and insights to help address the challenges and opportunities in the metal production industry.
Shyam Metals seeks to use Chandra Shekhar Verma’s expertise as a part of its board, which would help to tighten its market position in search of sustainable growth in an environment where inventory supplies are held low. His direction and participation in decision-making will be indispensable in driving strategies and further success in the fiercely competitive metal production sector.
In essence, his appointment as an independent director is undoubtedly a step in the right direction and a significant one for Shyam Metalics. His vast experience, exemplary leadership skills, and unwavering pursuit of excellence in every sphere make him a tremendous asset to the company.
