Tata Sons Chairman N Chandrasekaran is all set to be appointed as Chairman of Tata Sons for second term, he has received support of all the board members. Emeritus Chairman Ratan Tata has also given his support to him. Another board meeting will be held at Bombay House and Ratan Tata will also attend the meeting.
ET first reported about the news in July 2021 that it is assured that N Chandrasekaran will be reappointed as Chairman of Tata Sons with the approval from the board. He is getting this opportunity because of his stellar performance in last five years in the company.
Several top officials of the company have said that his reappointment is a ‘non-issue’. N Chandrasekaran joined the board of Tata Sons in October 2016 and was designated as Chairman in January 2017. He also chairs the boards of several operating companies of Tata Sons like Tata Power, Tata Steel, TCS and Tata Motors.
In last five years he has taken several challenges and has successfully bet on different growth opportunities. He always had sought counsel of Ratan Tata on crucial plans and important policy matters. Chandrasekaran has also played a pivotal role in the victory of Tata Group in an intense legal battle with Cyrus Mistry, estranged shareholder of Tata Sons. The acquisition of Air India was also seen as a prime example of his leadership.
His term is ending in February 2022 and the term renewal happens a week before the term end of his Chairmanship. Chandrasekaran’s reappointment will help in stabilizing the company and win confidence of investors and stakeholders.
A senior official of Tata told ET that, “The chairman’s reappointment is a non-issue and will appear as a routine board agenda item in any of the forthcoming meets. The previous chairman’s ouster was an aberration in the holding company’s history and is certainly not comparable to the current chairman.”
Another insider told ET that, “Chandrasekaran has brilliantly managed equations within the group. He accepted the limitations group operations had and worked around it the way an architect handles the restoration of a heritage building. He has also worked on a decent chemistry with the chairman, with his personal support on many issues.”