He may have been ousted by Ratan Tata's men in an unseemly boardroom battle, but the grand old man of Tata Steel is happy after the company acquired Anglo-Dutch Corus Group. For Russi Mody, who served Tata Steel for 53 years, the joy of the company becoming world’s fifth largest steelmaker is palpable.
“I am ecstatic. I cannot describe you my feelings of joy. It is a day in Tata Steel which nobody can ever forget,” he exulted. Mody, Tata Steel’s longest serving managing director, is currently chairman of Mobar India.
Mody went on to praise the group chairman, who he said has "spearheaded the entire group with utmost responsibility."
“The man at the top deserves full complements for developing Tata Steel from a national company to a global company. By winning the battle for Corus Group, Tata Steel has shown that it has the potential to become the world leader. I congratulate Ratan Tata and the entire Tata family,” Mody said.
“I do not know how sensible it was to offer $11.3 billion for the biggest-ever acquisition by an Indian company. It’s a success or failure, only time will tell. The fact that it has happened is itself a great news,” Mody said.