Tata Sons denies management rejig plan – Times of India
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MUMBAI: Tata Sons chairman N Chandrasekaran has said “no leadership structural changes are on the anvil” at the company and that “any such decisions, if relevant, are taken by the nomination and remuneration committee”.
Chandrasekaran was reacting to a Bloomberg News report that said Tata Sons is considering a historic revamp of its leadership structure by creating a CEO’s role to help improve corporate governance. “We are extremely disappointed with such stories that create disruption to regular operations,” he added.
Tata Trusts chairman Ratan Tata too expressed disappointment with the report that stated he is seen as critical in implementing the leadership revamp. Tata Trusts is the majority shareholder of Tata Sons, which runs the salt-to-software conglomerate that traces its roots back to 1868.
The report, citing people engaged in the deliberations, said the plan is to have a CEO guide the company’s sprawling businesses, while the chairman supervises the CEO’s functioning on behalf of shareholders. “Such speculation can only serve to cause disruption amongst a team that has been operating smoothly with impressive growth in market value,” Ratan Tata said.
The report also said that Tata Sons is considering renewing Chandrasekaran’s chairmanship term, which ends next February.
Chandrasekaran was reacting to a Bloomberg News report that said Tata Sons is considering a historic revamp of its leadership structure by creating a CEO’s role to help improve corporate governance. “We are extremely disappointed with such stories that create disruption to regular operations,” he added.
Tata Trusts chairman Ratan Tata too expressed disappointment with the report that stated he is seen as critical in implementing the leadership revamp. Tata Trusts is the majority shareholder of Tata Sons, which runs the salt-to-software conglomerate that traces its roots back to 1868.
The report, citing people engaged in the deliberations, said the plan is to have a CEO guide the company’s sprawling businesses, while the chairman supervises the CEO’s functioning on behalf of shareholders. “Such speculation can only serve to cause disruption amongst a team that has been operating smoothly with impressive growth in market value,” Ratan Tata said.
The report also said that Tata Sons is considering renewing Chandrasekaran’s chairmanship term, which ends next February.
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