Rewant Ruia, Former Board Member, Essar Steel Ltd is a member of the second generation of the Ruia family that is the founding family of Essar. Rewant’s global exposure, fresh perspectives, and arc of activities have contributed to Essar’s strategy and operations in the mining, steel, and retail sectors, both in India and abroad.
Frequently traveling between New York, London, and Mumbai, he drives the strategy of the Group’s Oil and Gas Business in the UK, the Metals & Mining operations in the US, and the Power business in Canada. He was part of the asset acquisition team that helped forge strategic integration across the raw material to steel value spectrum and now assists the management teams in maximizing the value of their business. He was also actively involved in Essar’s entry into emerging modern retail.
Essar Energy in 2017 announced the completion of a landmark transaction for the sale of Essar Oil Ltd to Rosneft and a consortium led by Trafigura & UCP at an enterprise valuation of US $12.9 billion. This transaction represents Russia’s largest-ever foreign investment, as well as India’s largest Foreign Direct Investment. Rewant was a member of the Essar Energy board that led and concluded the deal.
Rewant also concentrates on evolving the organizational design for Essar’s next phase of growth. He likes building relationships, working with teams, and operational efficiency. He, therefore, focuses on streamlining workflows, people systems, and processes through the use of planning and technology.
Rewant Ruia Bio
Name: Rewant Ruia
Profession: Former Board Member, Essar Steel Ltd.
Education: MBA from Stanford Graduate School of Business in 2013, Bachelor’s Degree from Bentley University
Parents: Father- Ravi Ruia (Co-founder of Essar), Mother- Madhu Ruia
Sister: Smiti Kanodia
Brother-inlaw: Nishant Kanodia, Vice Chairman of the Matix Group
Uncle: Shashi Ruia (Co-founder of Essar)
Cousins: Prashant Ruia, Anshuman Ruia