New Delhi, February 11
N Chandrasekaran was reappointed Friday as chairman of Tata Sons – the holding company of Salt-to-Software Tata Group – for a second five-year term. Its renewal was supported by Ratan Tata, chairman of Tata Trusts, the majority owners of Tata Sons.
Privilege to lead the group
It has been a privilege to lead the Tata Group for the past five years and I am delighted to have the opportunity to lead the Tata Group for another five years, in its next phase. N Chandrasekaran, Chairman, Son Tata
The board of Tata Sons met on Friday to review the past five years and consider the reappointment of its executive chairman N Chandrasekaran, he said.
“Ratan N Tata, who was a special guest at this meeting, expressed his satisfaction on the progress and performance of the Tata Group under the leadership of Chandrasekaran. He recommended that his term be renewed for another five years,” he said.
The board commended the performance of the executive chairman and “unanimously approved the reappointment of Chandrasekaran as executive chairman for the next five years.” Chandrasekaran, 58, said: “It has been a privilege to lead the Tata Group for the past five years and I am delighted at the opportunity to lead the Tata Group for another five years in its next phase. Chandra, as he is usually known, took the reins of Tata Sons in 2017 at a time when the group was facing a leadership crisis and a lack of confidence following the ousting of his predecessor, Cyrus Mistry, by the board of directors. Until then, Chandra, a trusted Tatas lieutenant, had led TCS, the crown jewel and cash cow of the Group.
He joined the Board of Tata Sons in October 2016, was appointed Chairman in January 2017 and officially took office in February 2017. He also chairs the Boards of Tata Steel, Tata Motors, Tata Power and TCS. Continuity of leadership will give investors and stakeholders confidence in the 154-year-old conglomerate. The group is working on an all-in-one e-commerce super app – one of Chandra’s key projects – to market its range of consumer products and services as part of a digital transformation. —
#ratan tata #tatas