N Chandrasekaran has been appointed today by the board of Tata Sons, the holding outfit of the Tata conglomerate, as its next chairman. He will succeed interim chairman Ratan Tata on February 21. Four-month deadline was decided to choose a successor. Chandrasekaran took the helm at a time when several companies in the conglomerate have seen profits come under pressure. Former chairman Mistry had warned of big loss of brand value and emphasized the need for governance reforms at Tata Sons, the charitable trusts that own two-thirds of the holding firm, and Tata group companies. Tata Sons has refused Mistry’s accusations.
Interesting thing is that N Chandrasekaran has been the CEO and Managing Director of Tata Consultancy Services since 2009. Since October 2016, he has also served on the board of Tata Sons.
In October, Tata Sons’ board set up a five-member selection committee in which Ratan Tata had to choose a new chairman within the next four months.
- At the age of 54-year-old marathoner joined TCS.
- In 1987 straight out he completed a Master’s in Computer Applications from the Trichy Regional Engineering College in Tamil Nadu.
- He became TCS’s Managing Director and Chief Executive in 2009, and is now serving his second 5-year term.
Former Tata Sons Chairmen List
Ratan N Tata (Chairman, Tata Sons: 1991 – 2012)
Cyrus P Mistry (Chairman, Tata Sons: 2012 – 2016)