New Delhi: N Chandrasekaran was on Friday re-appointed as the chairman of Tata Sons for a term of five years. Tata Sons are the holding company of the Tata Group. Chandrasekaran’s reappointment for the second time got the support of Ratan Tata, chairman of the Tata Trusts. Tata Trusts holds a majority stake in Tata Sons.
Tata Sons said in a statement that its board of directors met on Friday to review the past five years and consider the reappointment of its executive chairman N Chandrasekaran. It said, “Ratan N Tata was a special invitee to this meeting. He expressed satisfaction over the progress and performance of the Tata Group under Chandrasekaran’s leadership. He recommended the extension of Chandrasekaran’s tenure for a further period of five years.
The Board of Directors praised the performance of the Executive Chairman and unanimously approved his reappointment as Executive Chairman for the next five years. Chandrasekaran (58) said, “It is an honor to have led the Tata group for the last five years. I am delighted to have the opportunity to lead the group in the next phase and for another five years.”
Chandrasekaran, popularly known as Chandra, took over the reins of Tata Sons in 2017 when the group was facing a leadership crisis. Much of his tenure went into a legal battle with his predecessor, Cyrus Mistry. Chandrasekaran joined the board of Tata Sons in October 2016 and was made the chairman in January 2017. He took over the official charge in February 2017.
