Board of Management
TSN has a two-tier board structure consisting of the Board of Management, which has the executive powers and sets the company’s strategy, and the Supervisory Board, which supervises and advises the Board of Management. TSN has a mitigated structure regime as the members of the Board of Management are appointed by TSN's shareholder. All shares in TSN are ultimately held by parent company Tata Steel Ltd, based in India.
From left to right: Peter Bernscher (CCO), Akash Latchman (COO), Hans van den Berg (CEO) & Hans Turkesteen (CFO).
Board of Management
The role of the Board of Management (BoM) is to manage the company, including setting and achieving its objectives and determining the strategy to achieve these objectives. In the performance of its duties, the BoM is guided by the interests of the company and its business and, in doing so, carefully considers the interests of all stakeholders of the company, including the interests of its employees and ultimate parent Tata Steel Ltd. (TSL). The BoM is supervised by the Supervisory Board (SB). Members are appointed by the General Meeting of Shareholders of TSN and indirectly by TSL.
At the beginning of the financial year 2025-2026, the BoM consisted of Hans van den Berg (Chief Executive Officer and Chair), Hans Turkesteen (Chief Financial Officer), Akash Latchman (Chief Projects and Engineering Officer), Tom Eussen (Managing Director of TSIJ) and Gunilla Saltin (Managing Director of TSDE).
In connection with the planned consolidation and functionalisation of the TSN organisation, the BoM was reduced from five to four members as of 1 July 2025. In the new structure, the BoM consists of the positions Chief Executive Officer, Chief Financial Officer and the two newly created positions Chief Operations Officer and Chief Commercial Officer. Hans van den Berg and Hans Turkesteen have continued in the roles of Chief Executive Officer and Chief Financial Officer respectively and Akash Latchman has taken on the role of Chief Operations Officer. For the Chief Commercial Officer (CCO) position, Peter Bernscher was recruited externally and subsequently appointed as CCO and member of the BoM as of 1 September 2025. As of 1 July 2025, the positions of Managing Director of TSIJ and Managing Director of TSDE expired, and Tom Eussen and Gunilla Saltin stepped down as members of the BoM.
Diversity
TSN, being a large private company, has established appropriate and ambitious target figures for the BoM, SB and sub-top of the company in order to improve gender diversity. For the BoM, the target is that at least 25% of members are female. In the reporting year, the BoM had no female representation, compared to 20% in the prior year, and therefore this target is not met. The company will strive to meet the BoM target in future appointments.
For the SB, 50% of its members in the reporting year were independent, meaning they were not in any way involved in the management or supervision of companies within the Tata Steel Group; this was unchanged compared to the prior year. The diversity target for the SB is that 50% of its independent members are female. This target has been met, with women representing 25% of total SB members, consistent with the prior year.
Culture
TSN’s strategy is to transition to carbon-neutral production. To bridge the gap between carbon-based production and sustainable production, in 2025 the Board of Management adopted the SCALE transformation programme to deliver value for all TSN’s stakeholders. Besides achieving targets, the SCALE transformation is about cultural change. Further details on TSN’s Strategy and SCALE are provided elsewhere in this Annual Report. The values of the SCALE transformation add to TSN’s existing values. TSN is part of the Indian-based Tata Group and adopted the Tata Group Code of Conduct, which sets outs principles to guide the behaviour of TSN and its employees in all business matters, supplemented with TSN-specific interpretations. The Code of Conduct clearly articulates five fundamental values that underpin TSN’s approach to business conduct: integrity, pioneering, excellence, unity and responsibility which serve as guiding principles for ethical decision-making. The Board of Management is responsible for TSN’s conduct, including the development of policies, in which it is supported by the Ethics and Compliance Committee, which is part of the Risk and Compliance function. The implementation of the policies lies with senior management leading the operations and functions.
Conflict of interest
The By-laws of the BoM provide for how conflicts of interest between TSN and members of the BoM are to be dealt with.
A member of the BoM will not take part in any discussion or decision-making that involves a subject or transaction in relation to which they have a conflict of interest with the company, or in relation to which they have a direct or indirect personal interest that conflicts with the interests of the company. Such a transaction may only be concluded on terms at least customary in the sector and requires the approval of the SB. If, as a result of the above provisions, the BoM is unable to adopt a resolution, the resolution will be adopted by the SB.
Each member of the BoM will immediately report any (potential) conflict of interest to the chair of the SB and to the other members of the Board of Management. In 2025, no transactions were reported under which a member of the BoM had a conflict of interest that was of material significance.
Remuneration
The remuneration policy of the members of the BoM is adopted by the shareholder and prepared by the SB, upon recommendation of the Remuneration Committee. The remuneration policy and the elements of the remuneration of the members of the BoM are set out in the Remuneration Report and in the Financial Statements under Further notes to and signing of the Annual Accounts.