Chandra gets 5 more years at Tata helm
N. Chandrasekaran, who took over the reins of Tata Group in 2017, on Friday got an extension of five years as executive chairman of Tata Sons.
As the chairman of the board of Tata Sons, the holding company, he is responsible for and promoter of 100-odd businesses and 29 listed firms.
Its 800,000-plus employees help the conglomerate make cars and trucks, blend tea, manufacture salt, forge steel, sell insurance, write software, operate airlines and phone networks, among much else.
"The board members commended the performance of the executive chairman and unanimously approved the reappointment of Mr Chandrasekaran for the next five years," Tata Sons said in a statement.
The techie, who took over after Cyrus Mistry was removed as chairman in a shock boardroom coup led by Ratan Tata, who heads Tata Trusts that hold a 66 per cent stake in Tata Sons, has led the country's biggest conglomerate towards marked success.
The continuity in leadership comes as the 154-yearold, $103-billion (Rs 7.7 lakh crore) conglomerate is working on an all-in-one e-commerce superapp-one of Chandrasekaran's key projects -- to market its swathe of consumer products and services as part of a digital makeover.
The group is also reinventing its aviation businesses after successfully acquiring Air India from the Union government last year.
His extension augurs well, especially for the
Tata Motors, which has grown quickly in recent times to emerge among the top three carmakers in India.
Chandrasekaran has also been a key pivot in the company's electrification roadmap where it is now the lead player in the space with its Nexon EV and, more recently, the Tigor.
Tata Motors has also reiterated that it will push even more aggressively in electric going forward, which could cover up to 40 per cent of its portfolio by 2030.
Chandra, as he is fondly called, is expected to take Tata Motors to greater heights.