N Chandrasekaran reappointed as chairman of Tata Sons for another 5 years

Ratan Tata, who was a special invitee to the board meeting, expressed satisfaction over the progress and performance of the Tata group under the leadership of N Chandrasekaran. He recommended that his term be renewed for a further period of five years.

Continuity in leadership comes as the 154-year-old conglomerate that makes salt for luxury sedans is working on an all-in-one ecommerce superapp – one of Chandrasekaran’s flagship projects – for its wide range of consumer products and services. Market as part of a digital transformation. The group is also revamping its aviation business after the successful acquisition of Air India Limited from the federal government last year.

Chandrasekaran said, “It has been a privilege to lead the Tata Group for the last five years and I am delighted to have the opportunity to lead the Tata Group in its next phase for the next five years.”

Chandrasekaran’s current term as the company’s chairman ends at the end of this month.

Chandrasekaran joined the board of Tata Sons in 2016 and took over as chairman in 2017, when the group plunged into trouble after ousting his predecessor Cyrus Mistry in a shock boardroom coup led by Tata Trusts chief Ratan Tata. . A group of philanthropic organizations holding a 66% stake in Tata Sons.

The eviction triggered a year-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 is also the chairman of the boards of several group operating companies including Tata Steel, Tata Motors, Tata Power and Tata Consultancy Services (TCS) – of which he was the chief executive officer from 2009-17.

His appointment as chairman in 2017 comes after a 30-year professional career at TCS, in which he joined the university. Chandra rose through the ranks at TCS to become the CEO and Managing Director of a leading global IT solutions and consulting firm.

Under his leadership, TCS generated total revenue of $16.5 billion in 2015-16 and cemented its position as the largest private sector employer in India and the country’s most valuable company. TCS is also ranked among the “Big 4” most valuable IT services brands worldwide, ranked as one of the world’s most innovative companies by Forbes and as a global top employer by the Top Employers Institute in 24 countries. recognized as such.

With 100-odd businesses and 29 listed firms, the Tata Group had clocked revenue of around $103 billion for the year ended March 31, 2021. Its more than 800,000 workers help the group build cars and trucks, make tea, make salt, forge steel. Sell ​​insurance, write software, operate airlines and phone networks, and more.