Mumbai: Chairperson of Tata Sons N Chandrasekan has said “There are no structural changes in leadership on the foundation” in the company and that “every decision like that, if relevant, taken by the Nomination and Remuneration Committee”.
Chandrasekan reacted to Bloomberg news reports that said Tata Sons considered the historical improvement of his leadership structure by creating the CEO role to help improve corporate governance.
“We were very disappointed with such stories that created a disturbance in regular operations,” he added.
Tata Trust Chairman Ratan Tata also expressed disappointment with a report stating that he was considered critical in implementing revamp leadership.
Tata Trusts is the majority shareholder of Tata Sons, which runs a salt-to-software conglomerate that tracks its roots back to 1868.
Reports, quotes people involved in deliberation, saying the plan is to have a broad business CEO guide.
, While the chairman oversees the CEO function on behalf of shareholders.
“Such speculation can only function to cause interference between teams that have operated smoothly with impressive market value growth,” said Ratan Tata.
The report also said that Tata Sons was considering updating the term leadership of Chandrasekan, which ended in February.
Tata Sons denied the management rejig plan
