RATAN TATA, CHANDRA DENY CHANGES IN TATA SONS LEADERSHIP

Tata group patriarch Ratan Tata and Tata Sons Chairman N Chandrasekaran on Wednesday denied any change in the top leadership at Tata Sons, as reported by Bloomberg on Tuesday. “Such speculation can only serve to cause disruption amongst a team that has been operating smoothly with impressive growth in market value,” Tata said in a statement on Wednesday. Tata Sons had not replied to media queries before publication of the story in the media.

Patriach of the Tata Group, Ratan Tata, and Tata Sons chairman, N Chandrasekaran, on Wednesday denied any change in the top leadership at Tata Sons.

Both Tata and Chandrasekaran were reacting to media reports that a new CEO position will be created in Tata Sons to oversee the group’s business.

The report also claimed that Chandra will continue to remain the chairman of Tata Sons and get a second term.

Tata Sons had not replied to media queries before publication of the story in the media.

“I am extremely disappointed with the recent media reports regarding a major revamp in the Tata group’s organisation framework through a speculative company wise restructure with me seen to be critical to implementing this change. Such speculation can only serve to cause disruption amongst a team that has been operating smoothly with impressive growth in market value,” said Tata in a statement on Wednesday.

A similar statement was issued by Chandrasekaran. “I would like to state that no leadership structural changes are on the anvil, as speculated in certain sections of the media. Any such decisions, if relevant, are taken by the Nomination and Remuneration Committee. We are extremely disappointed with such stories that create disruption to regular operations,” the chairman said.

Both Tata and Chandrasekaran were reacting to media reports that a new CEO position will be created in Tata Sons to oversee the group’s business