Tatas reappoint N Chandrasekaran as Chairman for 2nd term

PTI

New Delhi, February 11

N Chandrasekaran was on Friday reappointed as the Chairman of Tata Sons — the holding company of the salt-to-software Tata Group — for a second five-year term. His reappointment was backed by Ratan Tata, Chairman of Tata Trusts, the majority owners of Tata Sons.

Privilege to lead group

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. N Chandrasekaran, Chairman, Tata sons

Tata Sons Board met on Friday to review the past five years and consider the reappointment of its Executive Chairman N Chandrasekaran, it said.

“Ratan N Tata who was a special invitee to this meeting expressed satisfaction on the progress and performance of the Tata Group under the leadership of Chandrasekaran. He recommended his term be renewed for a further five-year period,” it said.

The Board commended the performance of the Executive Chairman and “unanimously approved the reappointment of Chandrasekaran as the 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 referred to, took over the reins of Tata Sons in 2017 at a time when the Group faced a leadership crisis and a trust deficit after the ouster of his predecessor, Cyrus Mistry, by the Board. Until then, Chandra, a trusted lieutenant of the Tatas, had helmed TCS, the crown jewel and cash cow of the Group.

He joined the Tata Sons Board in October 2016, was designated Chairman in January 2017 and took official charge in February 2017. He also chairs the Boards of Tata Steel, Tata Motors, Tata Power and TCS. Continuity in 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 swathe of consumer products and services as part of a digital makeover. —

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