|
Tata
Sons board adopts revised guidelines
June 27, 2005
The
board of Tata Sons has adopted revised guidelines for
the composition of the board of directors. These revisions
are to the policy last adopted in 2000 and reflect the
views of independent directors on the boards of major
Tata companies and take account of recent developments
in the regulatory environment relating to good corporate
governance. The revisions, inter alia, include:
- Creation
of nominations committees for the selection of new
directors based on certain criteria;
- Specification
of tenure for independent directors;
- Retirement
age has been maintained at 65 years for executive
/ whole time directors. The retirement age for non-executive
directors has been reverted to 75 years, thus allowing
the company to continue to benefit from the rich experience
of these directors, who add great value to the strategy
and direction of Tata Group companies.
The
revised guidelines are being circulated to the boards
of Tata companies for their consideration.
|
|
