Tata Sons, the primary trust company of the Tata Group, on Tuesday announced the formation of the Group Executive Council (GEC).
The GEC, chaired by Tata Sons Chairman Cyrus P. Mistry will comprise executives of Tata Sons and will provide strategic and operational support to the Chairman of Tata Sons.
The GEC, under the aegis of the Tata Sons Board, will now assume responsibility for all the roles earlier performed by the Group Corporate Centre (GCC) and the Group Executive Office (GEO).
The mandate of the GEC is to own and drive the delivery of the core purpose of Tata Sons, which is long term value creation for all stakeholders.
The agenda of the GEC includes, inter alia, return on investment with a long term perspective; support for and shaping of the agenda for philanthropy; preserving and enhancing the reputation of the Tata name; defining and driving a Tata way of working for group companies; and playing a proactive role so that the group fulfils its responsibility as a global corporate citizen.
The GEC will work closely with and partner the Boards, CEOs and senior management of the various Tata companies.
Members of the GEC will be assigned responsibilities by the Chairman of Tata Sons, lead various strategic functions besides also serving as nominees of Tata Sons on the Boards of Tata companies.
The initial membership of the GEC will include N. S. Rajan, who will lead the strategic function of Human Resources, Mukund Govind Rajan, who will oversee Brand, Communication, Ethics & CSR, and Madhu Kannan, who will head Business Development and Public Affairs.
Other appointees to the GEC will be announced in due course.
The Tata Group comprises over 100 operating companies in seven business sectors: communications and information technology, engineering, materials, services, energy, consumer products and chemicals.