Tata Sons Limited has reappointed N Chandrasekaran as its Executive Chairman for another five years. The decision to appoint him for another next five years have taken by the Board of Directors of Tata Sons Ltd. Tata Sons Ltd is a holding company and promoter of $110 billion Tata group companies
In a statement released, the company announced that Company has reviewed the last five years and considered the reappointment of its Executive Chairman N Chandrasekaran. As per the company, Ratan N Tata was a special invitee at the board meeting and he expressed his satisfaction with the progress and performance under the chairmanship of N Chandrasekaran. Ratan Tata has recommended his reappointment for a further five years.
Ratan Tata recommended N Chandrasekaran
Ratan Tata who holds around 66 percent stake in Tata Sons has recommended the reappointment of N Chandrasekaran. The board members including Ratan Tata have commended the performance of the Executive Chairman and unanimously approved the reappointment of N Chandrasekaran. The Tatas is led by him who acquired Air India recently.
“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.
N Chandrasekaran has joined the Tata Sons in October 2016 and was appointed as Chairman in January 2017 after the exit of former Chairman Cyrus Mistry. N Chandrasekaran also chairs the boards of several groups of companies such as Tata Power, Tata Consultancy Services (TCS), and Tata Steels for which he was Chief Executive from 2009-17.
He has a career of more than 30 years at TCS. He has joined TCS directly from the University. He worked hard and rose through the ranks at TCS to become CEO and Managing Director of the leading global IT solutions 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.