Tata Sons may name new chairman on Thursday - Economic Times

Last Updated: Thu, Jan 12, 2017 17:13 hrs
Tata Motors logos are seen at their flagship showroom before the announcement of their Q3 results in Mumbai

MUMBAI  - India's $100 billion salt-to-software conglomerate Tata Sons is likely to name a new chairman as early as Thursday, the Economic Times reported, citing unnamed officials.

Tata Sons, the holding company of the listed Tata group companies in a business empire ranging from Jaguar Land Rover and steel mills to aviation and salt pans, ousted its chairman Cyrus Mistry in October, sparking a bitter public spat..

Tata Sons was holding a board meeting at 4 p.m. (1030 GMT), the newspaper said, adding that no agenda for the meeting had been announced.


The news came as Tata Consultancy Services Ltd, India's biggest software services company, reported its results on Thursday. TCS head N. Chandrasekaran has been widely rumoured to be one of the leading contenders to replace Mistry.

"Let's not speculate," Chandrasekaran said, when asked at a news conference after the TCS results if he was getting the Tata Sons chairman's role.

Ratan Tata, patriarch of one of India's most influential families, had taken over as interim chairman of Tata Sons after the board ousted Mistry.

In October, Tata Sons' board had set up a five-member selection committee that included Ratan Tata to choose a new chairman within the next four months.

When asked if Tata Sons was naming a new chairman on Thursday, a spokesman said the company would not comment on speculation.




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