Chief executive officer of Tata-owned British steel maker Corus, Kirby Adams, will step down this October, The Sunday Times reported.
Adams, who will remain as an adviser to the Corus board, will be replaced by Karl-Ulrich Köhler, the company’s chief operating officer.
The Sunday Times quoted steel industry sources as saying that Adams’s future had first been discussed at a meeting in Mumbai two months ago, following the closure of the Corus plant in Teesside.
The newspaper also quoted Ratan Tata, chairman of Tata Steel, as saying: “In his time as chief executive of Tata Steel Europe, Kirby has effected a major turnaround of the business and he leaves Corus very well placed for the future. We thank him for his contribution.”
In a statement, Corus said Adams had decided to return to Australia, where he built his reputation at BlueScope Steel.
The Telegraph quoted Adams as saying: “I am very pleased that Karl is now taking on this role and I wish him success.”
Adam’s successor Köhler is a board member at Corus and he will join the board of the parent company, Tata Steel later this year.