NEW DELHI: As expected, N Chandrasekaran will lead the salt-to-aeroplane conglomerate Tata Group for five more years. The board of Tata Sons, the holding company and promoter of $110 billion Tata group companies, on Friday announced extending the tenure of chairman N Chandrasekaran for a period of 5 years.
“Mr. Ratan N Tata who was a special invitee to this meeting expressed his satisfaction on the progress and performance of the Tata Group under the leadership of Mr. N Chandrasekaran. He recommended his term be renewed for a further five-year period. The board members commended the performance of the Executive Chairman and unanimously approved the reappointment of Mr. N Chandrasekaran as the Executive Chairman for the next five years,” the company said in a statement.
Chandrasekaran, whose present term as the chairman was scheduled to come to end this month, said, “It has been a privilege to lead the Tata Group for the last five years and I am delighted at the opportunity to lead the Tata Group for another five years, in its next phase.”
Chandrasekaran, a TCS veteran, had first joined the board of Tata Sons in October 2016 and was appointed Chairman in January 2017.