The new Tata chief, N Chandrasekaran began his job chairing the Tata Sons Board meeting at Bombay House. In the board meeting he laid down the strategic priorities for the group.
Chandrasekaran served TCS for three decades as it rose to become the largest IT company in the country and also the crown jewel for Tata Sons -- the group holding company which is majority-owned by philanthropic trusts set up by the Tata family.
Chandra reached the group headquarters around 9:15 am and within a few minutes, Ratan Tata and other board members also arrived.
Chairing his first board meeting, Chandra 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...I look forward to working with my colleagues, the management teams and the Boards of the companies towards achieving these goals.”
Welcoming Chandra in his new role, 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.”
{{/usCountry}}Welcoming Chandra in his new role, 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.”
{{/usCountry}}Yesterday, Chandra chaired the TCS Board meeting which declared the country’s largest share buyback worth Rs 16,000 crore.
Chandra succeeds 79-year-old Ratan Tata, who had come back as the interim chairman of the group after a surprise ouster of Cyrus Mistry as the chairman on October 24 last year.
His removal led to a bitter corporate battle with Mistry coming out with not-so-palatable allegations about the functioning of the diversified group, including personal allegations against Ratan Tata himself.
The Tatas had rubbished all allegations and wrested control after removing Mistry from directorships at group companies and finally the holding company.
The group relies heavily on TCS and the acquired British automaker JLR, whereas other traditional businesses that made it a force to reckon with like steel, auto and hospitality, are not at the top of their mark, according to industry watchers.
Marathon runner Chandrasekaran is the first non-family and non-Tata to lead the conglomerate.
(With inputs from PTI)