The board of Tata Sons Ltd, the holding company and promoter of $110 billion Tata group companies, has reappointed Natarajan Chandrasekaran as Executive Chairman for another five years.
“At its meeting on February 11, 2022, the board of Tata Sons reviewed the last five years and considered the reappointment of its Executive Chairman N Chandrasekaran,” it said in a statement.
Ratan N Tata who was a special invitee to this meeting expressed his 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,” Tata Sons said.
Tata Trusts, headed by Ratan Tata, holds a majority 66 per cent stake in Tata Sons. “The board members commended the performance of the Executive Chairman and unanimously approved the reappointment of Chandrasekaran as the Executive Chairman for the next five years,” it said.
“It has been a privilege to lead the Tata group for the last five years and I am delighted at the opportunity to lead the Tata group for another five years, in its next phase,” Chandrasekaran said. The Tatas, led by Chandrasekaran, acquired Air India recently.
Chandrasekaran joined the board of Tata Sons in October 2016 and was appointed Chairman in January 2017 following the acrimonious exit of former Chairman Cyrus Mistry. He also chairs the boards of several group operating companies, including Tata Steel, Tata Motors, Tata Power and Tata Consultancy Services (TCS) – of which he was Chief Executive from 2009-17.
His appointment as Chairman followed a 30-year business career at TCS, which he joined from the university. Chandrasekaran rose through the ranks at TCS to become CEO and Managing Director of the leading global IT solution and consulting firm.
Tata group companies collectively employ over 800,000 people. Each Tata company or enterprise operates independently under the guidance and supervision of its own board of directors. There are 29 publicly-listed Tata enterprises with a combined market capitalisation of $314 billion (Rs 23.4 lakh crore) as on December 31, 2021.
Tata Sons reappoints N Chandrasekaran as Executive Chairman for five years - The Indian Express
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