Corus has made four straight years of losses

"We believe board members should be working in the interests of all shareholders rather than individuals," the company said.

Russian metals entrepreneur Alisher Usmanov, who owns 13.4% of the company, has made no secret of his ambitions to influence Corus' strategy.

He has been especially critical of the company's two-country structure.

The Dutch arm of the business is profitable, but is dragged down by persistent losses on the British side.

'Encouraging signs'

Mr Usmanov wants to nominate Aad van der Velden, a former board member of Corus and its Dutch predecessor Hoogovens, to the Corus board.

Corus chiefs Jim Leng and Philippe Varin say their strategy is working

According to some reports, the move is in preparation for a takeover bid for the company.

The company last month unveiled its fourth straight annual loss, and some analysts have urged it to move out of the UK market entirely.

In resisting Mr Usmanov's approach, Corus management insisted there were "early encouraging signs" that the turnaround was under way.