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21
February 2017
Natarajan
Chandrasekaran on Tuesday took over as head of Tata Sons Ltd from Chairman
Emeritus Ratan N. Tata and chaired its first Board meeting. The Total Investment & Insurance
Solutions
"Chandrasekaran
chaired his first Board meeting as Chairman of Tata Sons Ltd," said the
principal investment holding firm in a statement here. The Total Investment & Insurance Solutions
Tata,
79, returned to head the holding firm as an interim Chairman after its previous
Chairman Cyrus Mistry, 48, was sacked on October 24, leading to a bitter
boardroom battle in the country's largest corporate house, with over 100 operating
firms. The Total Investment &
Insurance Solutions
"I
welcome Chandra, who has successfully displayed his leadership in his career at
Tata Consultancy Services (TCS). I am sure he will bring considerable value to
his leadership role in the Tata Group in the years ahead," said Tata on
the occasion. The Total Investment
& Insurance Solutions
Chandrasekaran,
54, was the Chief Executive Officer (CEO) and Managing Director of the Indian
IT bellwether (TCS) since 2009 prior to his appointment on January 12 to head
the holding firm of the $104-billion Tata Group. The Total Investment & Insurance Solutions
"In
my new role, I will focus on three strategic priorities: bring the group closer
to leverage its collective strength; reinforce a leader's mindset among the
operating firms and drive their operating performances across the group; bring
greater rigour to our capital allocation policies and deliver superior returns
to our shareholders," asserted Chandrasekaran. The Total Investment & Insurance Solutions
Chandrasekaran's
first Board meeting follows his appointment as Chairman of group operating
companies, including Tata Power, Tata Motors, Tata Steel and TCS.
"I
look forward to working with colleagues, management teams and Boards of the
companies towards achieving these goals," said Chandrasekaran in the
statement.
Noting
that it was an honour to lead the Tata Group on the eve of its 150th
anniversary, the new Chairman said the Group occupied a unique place in the
hearts and minds of millions of Indians and has an important presence the world
over. The Total Investment &
Insurance Solutions
"I
wish Chandra every success for the future," added Tata.
Founded
by Jamsetji Tata in 1868, the Tata Group is a global enterprise, which operates
in about 100 countries the world over to improve the quality of life of the
communities it serves through stakeholder value creation based on leadership
with trust. The Total Investment &
Insurance Solutions
As the
principal investment holding firm and promoter of Tata companies, 66 per cent
of its equity share capital is held by philanthropic trusts, which support
education, health, livelihood generation and art and culture. The Total Investment & Insurance
Solutions
The
Group employs about 660,000 people. Each of its company, or enterprise operates
independently under the guidance and supervision of its own Board of directors
and shareholders.
The
Group's 29 publicly-listed enterprises with a combined market capitalisation of
$116.41 billion include Tata Steel, Tata Motors, TCS, Tata Power, Tata
Chemicals, Tata Global Beverages, Tata Teleservices, Titan, Tata Communications
and Indian Hotels.The Total Investment
& Insurance Solutions
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