Tata Sons, the holding company of the Tata Group, has once again appointed N Chandreshkaran as executive chairman today (February 11). Most of his first term was spent in a legal battle with Mistry.
Tata Sons, the holding company of Tata Group, has once again appointed Natarajan Chandrasekaran as executive chairman today (February 11). He has been assigned this post for the second time for five years. His reappointment at the Tata Sons board meeting on Friday also got the support of Ratan Tata, who is the chairman of the Tata Trusts. Ratan Tata was specially invited to this meeting and expressed satisfaction over the performance of the Tata Group under Chandrasekaran’s leadership in the last five years and recommended reappointment of the next term for the next five years.
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Last term was spent in legal battle with Mistry
The 58-year-old Chandrasekaran’s last stint at Tata Sons began at a time when the group was battling a leadership crisis and a crisis of trust following the departure of Cyrus Mistry. Most of his first term was spent in a legal battle with Mistry. Prior to that Chandrasekaran had made TCS beneficial to the Tata Group, due to which Tata had strong trust in him and he was brought in as Mistry’s successor. He joined the board of Tata Sons in October 2016 and became the chairman in January 2017, taking over the official charge in February 2017. Chandrasekaran is also the chairman on the boards of Tata Steel, Tata Motors, Tata Power and TCS. He is also called by the name of Chandra.
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The company took these important decisions under the leadership of Chandra
- Under Chandra, Tata sold the mobile phone business of Tata Teleservices to Bharti Airtel to cover losses.
- In May 2018, Tata Group made the biggest acquisition of all time when Tata Steel acquired Bhushan Steel for Rs 35,200 crore under insolvency process.
- Tata Sons was declared the winner of the bid in the Air India auction in October last year and now the Tata Group has three airlines – Tata SIA Airlines, AirAsia India and Air India – with a total market share of 25 per cent. Air India was earlier owned by the Tata Group, whose stake was bought by the government and once again it has now reached the hands of the Tata Group.
- Last year in 2021, Chandra started an acquisition strategy in the digital domain to launch Super Apps. Through this app, it will sell air tickets from salt to customers directly. In May 2021, Tata Sons bought Big Basket for Rs 9500 crore, beating Mukesh Ambani’s Reliance Retail, Walmart’s Flipkart and American giant Amazon.
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