N Chandrasekaran appointed chairman of Tata Sons

The Board of Directors of Tata Sons, at its meeting today, appointed N Chandrasekaran as executive chairman. This is as per the unanimous recommendation of the selection committee. Mr Chandrasekaran is to take charge from February 21, 2017.

The Board of Tata Sons said: “Mr Chandrasekaran has demonstrated exemplary leadership as the CEO and managing director of Tata Consultancy Services. We believe he will now inspire the entire Tata Group to realise its potential acting as leaders in their respective businesses, always in keeping with our value system and ethics and adhering with the practices of the Tata Group which have stood it in good stead.”

Mr Chandrasekaran, who has been with the Tata Group since he joined the company in 1987, was the CEO and MD of Tata Consultancy Services since 2009. The tech flagship of the Tata Group commands a market capitalisation of around $17 billion. TCS today also announced its third quarter results, posting close to 3 percent (sequentially) quarterly profits at Rs 6,778 crore – touching $1 billion mark in profits for the first time.

Mr Chandrasekaran was appointed as a director on the board of Tata Sons on October 25, 2016. Like his predecessors, Mr Chandrasekaran could become the de facto chairman of Tata Motors also. 

In what appears to be his first reaction to the appointment as Tata Sons chairman, he said, "The Tata Group is at inflection point; endeavour will be to help it progress with ethics, values that it has been built on," according to PTI.