India’s ‘Steel Man’ – Former Tisco chief Russi Mody passed away

Russi Mody (96), regarded as India’s ‘Steel Man’ for his role in elevating Tata Steel (then known as Tisco) to its present status of India’s largest steel manufacturing company, passed away.
He was born on January 17, 1918, joined Tisco in 1939, and rose through the ranks to become its chairman and managing director in 1984. The man who was with Tata Steel for nearly four decades was credited with laying the foundation for what Tata Steel is today.
Mody was removed from the top position at Tata Steel in 1993 as the result of differences in opinions with Ratan Tata, who had just assumed charge as chairman of the Tata Group. He was then appointed as the joint chairman of Air India and Indian Airlines by then Prime Minister PV Narasimha Rao.
Mody received Padma Bhushan (nation’s third highest civilian award) in 1989 for his exemplary contribution to the Indian industry.

Month: Current Affairs - May, 2014