Tata Sons Reappoints N Chandrasekaran As Chairman For Five Years
Tata Sons reappointed N Chandrasekaran as executive chairman for five years.
N Chandrasekaran, who took over as the head of Tata Group after the bitter exit of his predecessor, has been renamed as chairman of Tata Sons Pvt. for another five years.
The board unanimously approved his extension, according to a statement. Chairman Emeritus Ratan Tata, a special invitee at the board meeting, expressed his "satisfaction on the progress and performance of the Tata Group" under Chandrasekaran.
"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 was quoted as saying in the statement.
Chandrasekaran had taken over as the head of Tata Group in 2017 after Tata Sons ousted his predecessor Cyrus Mistry. His extension comes as the Tata group works on an all-in-one e-commerce super app, and barely two weeks after Air India was formally handed over to the conglomerate.
The 154-year-old Tata Sons is the principal investment holding company and promoter of Tata entities. The enterprise has 29 publicly-listed firms with a combined market capitalisation of $242 billion as of March 31, 2021, with a total revenue of $103 billion.
Chandrasekaran, in his 2022 New Year message to employees, had said the focus would be on four themes in the coming year: digital, new energy, supply-chain resilience, and health.