Saddest job ever? Tata Steel appoints new UK chief executive

 
Emma Haslett
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Tata Prepares To Sell British Steel Operation
Tata Steel has begun the process of selling its UK assets to Greybull Capital (Source: Getty)

They say the UK's workforce is getting flightier, but this is just ridiculous.

Tata Steel said today it has hired a new UK chief executive - to oversee the company during its final days in the UK.

In a statement today, the company said it had appointed Bimlendra Jha, currently a member of the executive committee of Tata Steel Europe, to the role.

Last week the company formally announced the sale of its Scunthorpe works to Greybull Capital for a nominal sum of £1. The plant was supposedly making losses of £1m a day (although that's been disputed), as cheap steel from China decimated the UK industry.

Today Marc Mayohas, one of Greybull's three bosses, vowed to put the plant "back on the map" as one of the world's "leading steelmaking centres".

Today Koushik Chatterjee, Tata Steel's group executive director, said the appointment means "full focus [will remain] on the vital tasks that lie ahead of Tata Steel UK".

"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 added.

The company added it had appointed Standard Chartered to advise on the sale to Greybull Capital. KPMG has already been announced.

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