Jindal Steel's new CEO says he tends to 'stick around'

Less than 24 hours after his appointment, Jindal Steel Ltd's new chief executive officer (CEO) Gautam Malhotra sought to calm investor nerves on the high churn of senior executives at the billionaire Naveen Jindal-led firm.

- Dipali Banka & Nehal Chaliawala

Over the last five years, the firm saw the exit of five top leaders after brief tenures.

(HT)

"I tend to stick around," Malhotra said at a post-earnings call on Wednesday, responding to an analyst's question on the management churn.

In response to a question by Sumangal Nevatia, director at Kotak Securities, on how he planned to address the issue, the CEO said that many employees have been with the company for over two decades.

"So I see a lot of stickiness. And if I look at the overall retention rates, they are fairly high. And that drives a lot of confidence in me to be able to drive the agendas that we have set for ourselves," he said. "I think that should give you enough confidence in our journey going forward. And by the way, I tend to stick around," he said.