B Muthuraman is Business Standard's CEO of the year
Mumbai: Tata Steel managing director B Muthuraman is financial daily Business Standard's CEO of the Year. The paper said that the award goes to him for the transformation of the steel giant into one of the most efficient companies in India and his triumphs on the global stage through aggressive acquisitions.

Tata Steel's profitability per tonne of steel is now the best in the world, despite its small production base. Tata Steel's net profit almost doubled to Rs3,474.16 crore in 2004-05 compared with the previous year and net sales were up 35.47 per cent to Rs14,499 crore. Net profit grew at a three-year compounded annual growth rate (CAGR) of 156.90 per cent and net sale by 29.36 per cent.

The list of previous winners of the BS CEO of the Year award includes Bharat Forge chairman and managing director Baba N Kalyani, Tata group chairman Ratan Tata, Reliance group chairman Mukesh Ambani, Hero group chairman Brij Mohan Lall Munjal and Infosys chairman and chief mentor NR Narayana Murthy.

This year Business Standard has broadened the scope of its annual corporate awards (now in their 7th year), by introducing one more Star category: Star performer among the multinational companies.

This is in addition to the existing three categories: Star performer among the public sector enterprises, star performer among unlisted firms (which hugely outnumber those listed on the bourses) and finally star performer in the small and medium enterprise segment — defined as companies with a turnover less than Rs500 crore.

While Bharat Electronics got the Star Performer, Public Sector, award, Honda Siel emerged as the SME Star; Glenmark Pharmaceuticals was voted the Unlisted SME of the Year; and ABB became the Star MNC of the Year.
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Tarun Das exits ACC
Mumbai: Associated Cement Companies (ACC) chairman Tarun Das has resigned from the company's board. Informing the stock exchanges of this, the cement company, one-third of which is owned by Swiss-based Holcim, said its present deputy chairman Narottam Sekhsaria will take over as chairman.

Sekhsaria is managing director of Gujarat Ambuja Cements.

Under Das's chairmanship, ACC crossed the US$1bn mark in turnover, production exceeded 16 million tonne in a year and profit grew beyond Rs500 crore in 2005.

"His chairmanship will also be remembered for bringing back the sharp focus of ACC to the core business of cement and concrete," said the company.

The ACC board also approved the appointment of Paul Hugentobler, member of executive committee of Holcim, as deputy chairman of the company.

Besides, ACC informed that R A Shah, solicitor and senior partner of Crawford Bayley & Co, and Nirmalya Kumar, a professor at London Business School, joined the board as non-executive directors and representatives of the promoters, Ambuja Cement India.

Das had joined ACC as chairman six years ago following acquisition of the Tata group's stake by Gujarat Ambuja Cements.
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