OREANDA-NEWS. December 25, 2012. The Tata Steel Board of Directors announced the appointment of Mr. Cyrus P. Mistry as the Chairman of the Board with effect from December 28, 2012 on retirement of Mr. R.N.Tata on that date.

The Board conferred on Mr. Tata the honorary title of Chairman Emeritus.

Established in 1907 as Asia's first integrated private sector steel company, Tata Steel Group is among the top-ten global steel companies with an annual crude steel capacity of over 26.5 million tonnes per annum (mtpa). It is now the world's second-most geographically-diversified steel producer, with operations in 26 countries and a commercial presence in over 50 countries. The Tata Steel Group, with a turnover of USD 26.13 billion in FY 12, has over 80,000 employees across five continents and is a Fortune 500 company. The Group’s vision is to be the world’s steel industry benchmark in “Value Creation” and “Corporate Citizenship” through the excellence of its people, its innovative approach and overall conduct. Underpinning this vision is a performance culture committed to aspiration targets, safety and social responsibility, continuous improvement, openness and transparency. In 2008, Tata Steel India became the first integrated steel plant in the world, outside Japan, to be awarded the Deming Application Prize 2008 for excellence in Total Quality Management. In 2012, Tata Steel became the first integrated steel company in the world to win the Deming Grand Prize 2012 instituted by the Japanese Union of Scientists and Engineers.