February 21, 2017
N Chandrasekaran chairs first board meeting as Chairman of Tata Sons
Mumbai: N Chandrasekaran today chaired his first board meeting as Chairman of Tata Sons, the principal investment holding company for more than 100 Tata operating companies.
|N Chandrasekaran, Chairman, Tata Sons, with Ratan N Tata|
Ratan N Tata, Chairman Emeritus of Tata Sons, said: “I welcome Chandra, who has successfully displayed his leadership in his career at Tata Consultancy Services. I am sure he will bring considerable value to his leadership role in the Tata group in the years ahead.”
Mr Tata added: “I wish Chandra every success for the future.”
Speaking ahead of the board meeting, Mr Chandrasekaran said: “In my new role, I will focus on three strategic priorities: bring the group closer together to leverage its enormous collective strength; reinforce a leader’s mindset among the operating companies and drive world-class operating performances across the group; bring greater rigour to our capital allocation policies and deliver superior returns to our shareholders. I look forward to working with my colleagues, the management teams and the boards of the companies towards achieving these goals.”
Mr Chandrasekaran added: “It is an honour to lead the Tata group as we near our 150th anniversary. The Tata group occupies a unique place in the hearts and minds of millions of Indians and also has established an important presence around the world.”
His inaugural board meeting as Chairman of Tata Sons follows his appointment as chairman of group operating companies including Tata Power, Tata Motors, Tata Steel and Tata Consultancy Services, where he was CEO from 2009-2017.
About the Tata Group
Founded by Jamsetji Tata in 1868, the Tata group is a global enterprise, headquartered in India, comprising over 100 independent operating companies. The group operates in more than 100 countries across six continents, with a mission 'To improve the quality of life of the communities we serve globally, through long-term stakeholder value creation based on Leadership with Trust'. Tata Sons is the principal investment holding company and promoter of Tata companies. Sixty-six percent of the equity share capital of Tata Sons is held by philanthropic trusts, which support education, health, livelihood generation and art and culture. In 2015-16, the revenue of Tata companies, taken together, was $103.51 billion. These companies collectively employ over 660,000 people. Each Tata company or enterprise operates independently under the guidance and supervision of its own board of directors and shareholders. There are 29 publicly-listed Tata enterprises with a combined market capitalisation of about $116.41 billion (as on March 31, 2016). Tata companies with significant scale include Tata Steel, Tata Motors, Tata Consultancy Services, Tata Power, Tata Chemicals, Tata Global Beverages, Tata Teleservices, Titan, Tata Communications and Indian Hotels.
Group Corporate Communications, Tata Sons
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