As a part of this plan, initiated by Irani himself with an aim to make a peaceful transition, the company's board decided at a meeting on July 19 to promote four vice-presidents to the post of executive director, effective August 1, 2000.

The promotees will be invitees without voting rights. And one of them is likely to be chosen for the coveted post of managing director of this Rs 7,000-crore private sector steel major. T Mukherjee will be the executive director for operations, B Muthuraman for special projects, AN Singh for town, medical and social services, and FA Vandrevala for marketing and sales.

Consequently, Tata Steel has decided to abolish the corresponding posts of vice-presidents.

"It is my duty to see that my successor will be in place before I retire," Irani told The Financial Express. In March this year, Irani had indicated to his senior executives that his successor would be from within Tata Steel.

At the 93rd AGM on July 20, none of the shareholders had raised the succession issue, but Tisco chairman Ratan N Tata has gone on record saying that the board is looking for a successor to Irani and will make an announcement at the appropriate time. Finding someone for the Tisco hot seat has never been a peaceful affair for almost last five decades. When RS Pandey assumed charge as Tisco CEO in 1958, the trade union at the plant, in Jamshedpur, threatened an upheaval. Pandey, a Bihar cadre officer of the Indian Administrative Service, was loaned to Tisco to oversee smooth management of labour force.

Russi Modi succeeded Pandey in 1976 when the IAS officer was accused of funds misappropriation.

Modi refused to give up his chair on the board as managing director in 1992 and as chairman in 1993 when he was asked to resign on both occasions.

Now, the Tatas are keen that succession should not cause any ripples.

Irani has been quoted as having said that his successor will have the benefit of his guidance and experience for the short tenure of overlap.

People in the steel city feel that all four are capable persons for the top job at Tisco, which has a strong marketing set-up and has declared its clear intention to become the cheapest steel producer in the world as well as to capture the niche cold-rolled steel market in the country.

However, the board seems to have its own criteria of selection. Whether it would be past performance or future need or a combination of both is to be seen.