N Chandrasekaran is Tata Sons Chairman
MUMBAI: Tata Sons on Thursday named TCS Chief Executive Officer and Managing Director N Chandrasekaran as its new Chairman over two months after the unceremonious sacking of Cyrus Mistry. Popularly known as ‘Chandra’, the 54-year-old was chosen to step into the shoes of interim Chairman Ratan Tata, who took over on October 24 last year after the removal of Mistry.
The decision to appoint Chandra, a Tata group veteran, was taken at a meeting of Tata Sons board here, sources said.
The decision followed a fivemember search committee comprising Ratan Tata, TVS Group head Venu Srinivasan, Amit Chandra of Bain Capital, former diplomat Ronen Sen and Lord Kumar Bhattacharya zeroing in on Chandrasekaran. Chandrasekaran has been heading the Tata group’s ‘crown jewel’, software firm TCS, since 2009. He was appointed as a Director on the board of Tata Sons on October 25, 2016, a day after Mistry’s removal.
The search panel was given four months to find the new head of the promoter company of the major operating firms of the $ 103 billion salt-to-software conglomerate, but the decision has been reached even before that.
Chandrasekaran’s appointment as Tata Sons Chairman comes at a time when the company is fighting a legal battle at the National Company Law Tribunal with Mistry, who has challenged his ouster.
MUMBAI: Stating that the Tata group is at an inflection point, newly-appointed Tata Sons Chairman N Chandrasekaran on Thursday said his aim would be to help progress the conglomerate “with the ethos, ethics and values that the Tata group has been built on”.
Commenting on his appointment as the head of the USD 103 billion salt-tosoftware behemoth, Chandrasekaran said: “At the Tata group, we are at an inflection point. I am aware that this role comes with huge responsibilities.
“It will be my endeavour to help progress the group with the ethos, ethics and values that the Tata group has been built on.”
He further said he is “humbled and honoured to be chosen to lead a truly great institution that occupies a unique position in the hearts of people in India and the world”.
“I am proud to have been part of the Tata family for over 30 years and assuming this position is a great privilege,” he added.
Popularly known as Chandra, who was the chief of the group’s crown jewel TCS also thanked the Tata Sons Board and Ratan Tata “for their confidence in me to lead this trusted institution that has a rich heritage”.
Industrialist Anil D Ambani tonight congratu- lated N Chandrasekaran for his elevation as Chairman of Tata Sons saying he is an outstanding choice and bring to table an unparallelled track record of value creation and visionary leadership.
Chandrasekaran said he is “humbled and honoured to be chosen to lead a truly great institution that occupies a unique position in the hearts of people in India and the world”