The Board of Tata Sons Pvt Ltd reviewed and approved on Friday the reappointment of its Executive Chairman N Chandrasekaran for another five years.
Ratan Tata, who was a special guest at the board meeting, expressed his satisfaction on the progress and performance of the Tata Group under the leadership of N Chandrasekaran. He recommended that his mandate be renewed for a further period of five years.
The leadership continuity comes as the 154-year-old conglomerate that makes salt for luxury sedans, works on a super all-in-one e-commerce app – one of Chandrasekaran’s key projects – to market its range of consumer products and services as part of a digital makeover. The group is also reinventing its aeronautical activities after having successfully acquired Air India Ltd. with the federal government last year.
“It has been a privilege to lead the Tata Group for the past five years and I am delighted with the opportunity to lead the Tata Group for another five years, in its next phase,” said Chandrasekaran.
Chandrasekaran’s current term as chairman of the company expires at the end of this month.
Chandrasekaran joined the Tata Sons board in 2016 and took over as chairman in 2017 at a time when the group was mired in crisis after its predecessor Cyrus Mistry was ousted in a shock coup led by Ratan Tata, who heads Tata Trusts – a group of philanthropic organizations that own 66% of the capital of Tata Sons.
The ousting sparked a years-long legal battle between the two sides and was finally put to bed after India’s top court ruled in March 2021 that Mistry’s dismissal was legal.
Chandrasekaran also chairs the boards of several of the group’s operating companies, including Tata Steel, Tata Motors, Tata Power and Tata Consultancy Services (TCS) – of which he was chief executive from 2009 to 2017.
His appointment as chairman in 2017 follows a 30-year business career at TCS, which he joined after college. Chandra rose through the ranks at TCS to become CEO and Managing Director of the leading global IT consulting and solutions company.
Under his leadership, TCS generated total revenues of $16.5 billion in 2015-2016 and cemented its position as India’s largest private sector employer and the country’s most valuable company. TCS has also been ranked among the “Big 4” of the world’s most valuable IT services brands, ranked as one of the world’s most innovative companies by Forbes, and recognized as one of the world’s top employers by the Institute. of the best employers in 24 countries.
With around 100 businesses and 29 listed companies, the Tata Group had combined revenue of approximately $103 billion for the fiscal year ended March 31, 2021. Its more than 800,000 employees help the conglomerate making cars and trucks, blending tea, making salt, forging steel. , sell insurance, write software, operate airlines and telephone networks, among others.
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