New Delhi: The board of Tata Sons Ltd on Monday reappointed N Chandrasekaran as its executive chairman for another five-year term. In an official statement, Tata Sons said that the reappointment was ratified by the board.
“At its meeting on 11 February 2022, the Board of Tata Sons reviewed the last five years and considered the reappointment of its Executive Chairman N Chandrasekaran,” it said in a statement.
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 Chandrasekaran, it added.
He recommended his term be renewed for a further five-year period, according to Tata Sons.
The board members commended the performance of the Executive Chairman and unanimously approved the re-appointment of Chandrasekaran as the Executive Chairman for the next five years, Tata Sons stated. “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 said.
Recently, the Tata Group has regained control of Air India after 69 years.
“We are delighted to have Air India back at the Tata group and are committed to making this a world-class airline,” Mr Chandrasekaran had said.
He had also met Prime Minister Narendra Modi ahead of the official handover.
Tata group companies collectively employ over 800,000 people. Each Tata company or enterprise operates independently under the guidance and supervision of its own board of directors. There are 29 publicly-listed Tata enterprises with a combined market capitalisation of $314 billion (Rs 23.4 lakh crore) as on December 31, 2021.