Mumbai: n Chandrasekan is set for the second term as Chair of the Sons Tata, the people close to the problem to the Toi, adding that the company’s board will consider the extension of his contract on Friday.
Chandrasekan is the first non-family professional executive for Sons Helmets.
The current period of time from the 58-year-old chairman, who has directed a car conglomerate to flight through the Covid crisis, ended on February 20.
Regardless of the removal, Tata Sons tends to consider triggering three members on the Board, said the source.
Addition will take the total board strength to 10 of seven.
There is speculation that the CEO of Tata Steel T V Narendran, 57, will be appointed to the Board in recognition of “Leadership Abilities”.
Under the server, Tata Steel is now a bright spot in a $ 103 billion conglomerate.
In the annual shareholders of Tata Steel met last year, the Chairman of the Emeritus Ratan Tata (who was also the Chair of the Emeritus of Tata Sons) praised the company’s stellar performance (he posted the highest operating profit in the fiscal year 2021).
He also acknowledged the achievement of Chandrasekkan, Narendran and others, “who looked into the future to take the leadership of the Tata Group where he hoped to be in the coming years”.
Narendran, who joined Tata Steel in 1988 after completing his MBA from IIM-Calcutta, would be the fifth executive of the conglomerate to be at the Tata Council after Chandrasekan, CFO Saurabh Company Agrawal, Ralf Spet (JLR Deputy Chair) and Bhaskar Bhat (Titan Director).
The source said two other members will represent the interests of Tata Trusts, which are shareholders of Sons Tata Control, on the Board.
At present, Tata Trust has two nominations in the Ajay Piramal and Venu Srinivasan industrialist.
While the pyramal is not the guardian of Tata Trust, Srinivasan, chairman of the TV Motor Company, is Deputy Chairperson of Tata Trust.
The Articles of Association of Tata Sons said that trust can nominate a third of the Director at the Conglomerate Central Company Council as long as it has at least 40%.
Two other members being considered are leading personality familiar and related to Tata Trust, said source.
One of them is a senior legal advisor and the other is retired bureaucrat.
Extension of Chandrase Leadership was significant because the Chairperson of Tata Sons was also the chairman of the company promoted by Tata Sons.
This will convince Tata Entities investors, including TCS heavyweight stock markets, from the stability of leadership and continuation of the strategy.
Chandrasekan was picked from TCS, the most profitable entity in the group, and made the Chairman of Tata Sons on February 21, 2017 after leaving Cyrus Mistry from the top post.
Furthermore, Chandrasekan was made by the chairman of several key companies such as TCS, Tata Motors, Tata Steel and India.