After two long months of sacking the previous chairman, Cyrus Mistry, Tata Sons has finally found a new chairman to handle the reins of the Tata empire. Tata Sons named the TCS CEO and Managing Director, N. Chandrasekaran, its new chairman. After a board meeting held, the Tata group veteran popularly known as Chandra was decided to be the best replacement for the current interim Ratan Tata. The search panel had a deadline of four months in which they had to look for a chairman who would be the right choice to lead a massive empire.
Chandrasekaran has a Masters in Computer Application from Regional Engineering College, Trichy. He has in the past, has headed Tata group’s very successful software firm, Tata Consultancy Services. TCS, in the year 2015-16 has generated revenue of $16.5 billion and gained the tag of being one of most valuable countries in the Tata Group. In India, TCS has a market capitalisation of almost $70 billion.
His employment as the chairman will be an interesting proposition as it comes when Tatas are fighting a legal battle with Mistry since he has challenged his ouster in the court of law. In one of the most talked about boardroom battles, Ratan Tata, had removed Cyrus Mistry from the position of a chairman on the grounds of incapability of good leadership. Mistry, on the other hand, continued with the mudslinging and claimed that Ratan Tata’s interference in the company was way more than required which reduced his position to that of a lame duck chairman.
Chandrasekharan, in a recent statement claimed to be “humbled and honoured” to be chosen as the one who would lead the Tata Sons. He is also the first non-Parsi chairman of the Tata Sons.
“At the Tata Group, we are at an inflection point. I am aware that this role comes with huge responsibilities.” – Chandrasekaran